Binance Launches Medá as Independent Payment Institution

Binance announced the creation of Medá, an Electronic Payment Funds Institution (IFPE) that will operate independently in Mexico under one of the company’s business units. The National Banking and Securities Commission (CNBV) authorized Medá in May 2022, making it the 31st entity approved under Mexico’s Fintech Law.

Binance said it plans to invest over the next four years to support Medá’s development. The initiative aims to increase access to digital financial services and create a bridge between traditional finance and virtual asset ecosystems.

Medá will be able to receive deposits and process withdrawals in Mexican pesos. It will also allow users to send and manage funds for transactions within Binance’s global network. Binance stated that Medá will operate with an independent management team to enhance regulatory compliance and operational standards in Mexico.

“In a highly concentrated market, Medá seeks to position itself as the leading fintech transaction processor in pesos, fostering competition that benefits consumers with better services at lower costs,” said Guilherme Nazar, Regional Vice President for Latin America, Binance.

The launch is part of Binance’s broader strategy to strengthen its regulatory position globally. The company holds licenses, registrations and authorizations in 22 jurisdictions, including France, Italy, Spain, Dubai, Japan, Brazil and Argentina.

Binance emphasized that the creation of Medá aligns with its commitment to financial security and compliance. The company invests in programs for prevention, detection and mitigation of illicit activities in cooperation with authorities worldwide.

Education will remain a key component of Binance’s strategy in Mexico through its Binance Academy platform, which offers free educational content in Spanish and more than 30 other languages, said directives. In 2024, over 44 million people participated in its courses and workshops, including programs in partnership with Mexican academic institutions such as UNAM, Tecnológico de Monterrey and Universidad Panamericana.

“Mexico’s population makes it a key market for expanding financial services access. We aim to promote secure and sustainable ecosystems that foster inclusion and economic development,” Nazar said.