Crypto exchange Binance has introduced Medá, a newly authorised electronic payment funds institution in Mexico. 

The company plans to invest over $53m over a four-year period, aiming to strengthen the connection between traditional financial services and the digital asset space. 

Medá will function independently from Binance, focusing on providing services for peso transactions and bridging the gap between conventional financial systems and the growing digital asset market, the crypto platform said in a statement.  

The institution will be monitored by Mexican financial regulators, enabling users to manage their fiat funds within Binance’s ecosystem.  

Binance regional vice president for Latin America Guilherme Nazar said: “In a highly concentrated market, Medá aspires to become the leading alternative in the financial technology space as a processor of transactions in Mexican pesos. 

“Recognising that increased competition benefits consumers, Medá will provide the Mexican population with access to higher-quality financial technology services at more affordable costs.” 

Nazar added: “We believe in the importance of fostering safe and sustainable ecosystems that create broader opportunities for all Mexicans in terms of social and economic development.  

“Binance’s goal is to establish Mexico as a fintech innovation hub through this new independent vertical, while promoting synergy between traditional finance and emerging technologies.” 

The company also emphasised its education initiatives, with the Binance Academy offering free educational resources in numerous languages. 

In 2024, the platform attracted over 44 million learners globally, including those from “leading” Mexican academic institutions. 

Binance already has licences and permits in 22 countries, including key markets like France, Italy, Spain, Dubai, Japan, Brazil, and Argentina. 

In May, Binance signed an agreement with the National Agency for Investments of the Kyrgyz Republic, introducing Binance Pay in the region.