MEXC has appointed Vugar Usi as chief executive as the crypto exchange accelerates efforts to secure global licences, including compliance with the European Union’s MiCA framework.
Usi, who joined MEXC as chief operating officer in late 2025 after a similar role at Bitget, will lead the company’s push to expand its regulatory footprint while maintaining its low-fee trading model.
“The MiCA license application is a top strategic priority for the company,”
Usi said, adding that MEXC is preparing to establish a fully compliant entity within the European Union.
The strategy comes as MEXC seeks to broaden its platform into a multi-asset “everything exchange” model, reflecting intensifying competition from both centralised and decentralised trading platforms.
The company is currently flagged as non-compliant by Dutch regulators after offering crypto services in the Netherlands without the required licence, underscoring the urgency of its regulatory push.
MEXC operates globally and is targeting MiCA approval alongside rivals such as Binance, highlighting the increasingly competitive and politically sensitive race for European licences.
Founded in 2018, MEXC has reported daily trading volumes of about $2.2 billion and has been ranked among the fastest-growing exchanges by CryptoQuant, supported by partnerships including Hacken and The Open Network.