MEXC has appointed Vugar Usi as its new CEO, a move signaling the crypto exchange's intensified focus on global licensing, including compliance with the European Union's Markets in Crypto-Assets Regulation (MiCA).
Usi, who previously served as Chief Operating Officer at rival exchange Bitget, stated that MEXC plans to continue its low-fee trading strategy while expanding multi-asset access on its platform. He confirmed that obtaining a MiCA license is a "top strategic priority" for the company, with proactive preparations underway for establishing a compliant EU business entity.
This strategic push follows past regulatory scrutiny, including being flagged by Dutch authorities in September 2025 for operating without the required license. The pursuit of MiCA compliance highlights the increasing competition and political sensitivity surrounding crypto licensing in Europe.
Founded in 2018, MEXC has seen rapid growth, reporting daily trading volumes of approximately $2.2 billion. The exchange has also been recognized for its growth and has secured significant partnerships, including collaborations with blockchain security platform Hacken and The Open Network (TON), which received funding from MEXC Ventures.