Binance has announced the launch of Medá, a new fiat channel in Mexico, as part of a planned investment of more than USD 53 million over four years.
Following this announcement, Medá, an authorised and regulated Electronic Payment Funds Institution (IFPE), will provide fiat deposit and withdrawal services, and it will be operated independently, fostering optimised practices in Mexico for healthy and proper development between traditional finance and digital assets ecosystems.
The strategy reflects on Binance’s commitment to the region of Mexico, while also aiming to expand financial inclusion, education, and compliance. The company will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the local industry as well.
More information on Binance’s launch of Medá
According to the official press release, Medá has been authorised and supervised by Mexican financial authorities in order to handle peso deposits and withdrawals, offering users the possibility to access, send, and leverage their fiat funds for transactions within the Binance ecosystem. At the same time, Medá is set to help ensure sustainable growth and foster healthy and proper development between the traditional financial sector and the emerging digital-asset ecosystem.
Medá aims to become a trusted alternative in the financial technology space as a processor of transactions in MXN. In addition, by recognising that increased competition benefits consumers, Medá will provide clients in the region with access to secure and improved financial technology services at more affordable costs.
Furthermore, through continued investment, education, and compliance, Binance is set to remain committed to optimising the way Mexico builds a safe, sustainable, and inclusive digital economy for its customers and businesses.
