MEXC appointed Vugar Usi as CEO on Wednesday. The exchange is strengthening its focus on obtaining licenses worldwide, including compliance with MiCA in the European Union.
Usi joined the company at the end of 2025 as chief operating officer. Before that, he held a similar position at the Bitget exchange.
In his new role, he intends to maintain a focus on low fees while expanding the range of available assets.
MEXC also continues to work on obtaining licenses in various countries, including MiCA in the EU.
All these changes coincide with a brand update. Exchanges in general are moving away from a narrow model and toward universal platforms amid competition with DeFi.
MiCA License Is a Priority
MEXC operates in several regions and closely monitors regulatory changes. According to Usi, obtaining a MiCA license is now one of the company’s key objectives.
He noted that the team is already preparing to launch a fully compliant structure in the European Union.
At the same time, details about the licensing process at MEXC have not been disclosed. Currently, the platform is considered non-compliant with European regulators. In September 2025, Dutch authorities indicated that the exchange provided services in the country without the necessary license.
Overall, the process of obtaining a MiCA license remains complex even for major players. For example, Binance applied for a license in Greece in January, showing how competitive the race to enter the European market has become.
MEXC Continues Rapid Growth
MEXC launched in 2018 and has grown significantly since then. The exchange now handles daily volumes of about $2.2 billion, according to CoinGecko.
CryptoQuant ranks it among the largest players. In their Exchange Leader Index MEXC is in the top 3 along with Binance and Gate.
At the same time, the exchange remains among the leaders in growth rates along with Gate and Coinbase.
The company is actively expanding partnerships. Among them is cooperation with the cybersecurity platform Hacken, which specializes in auditing.
MEXC also works closely with the The Open Network ecosystem. At the end of 2023, the project received investment from the venture arm MEXC Ventures.
How MiCA Is Changing the Crypto Exchange Market
MiCA is gradually becoming the entry point to the European market. Without a license, operating in the EU is becoming increasingly difficult, while with one, an exchange gains legal status and access to major clients, including institutions.
That is why a European license is especially important for exchanges right now. Without it, operating in the EU is more difficult, while with it, it is easier to establish a foothold in the market and avoid risks from regulatory claims.
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For users, the difference is also noticeable. Licensed platforms have higher requirements for transparency and handling client funds. But due to new rules, some features may disappear, and some platforms may prefer to leave the market altogether if they are not ready to adapt.
Essentially, MiCA is already changing the very approach to operating in Europe. Now, a strong brand alone is not enough. An exchange needs not only to attract users but also to fit into strict regulatory frameworks.
Why Centralized Exchanges Are Changing Strategy
Exchanges have long moved beyond simple trading. Increasingly, they are not just a platform for transactions, but a full-fledged service with various tools and assets in one place.
At the same time, some liquidity is gradually moving to DeFi. There, users have more control over their funds, which forces centralized exchanges to expand functionality and retain audiences within their platforms.
Against this backdrop, competition has become tougher. Exchanges are revising fees, adding new products, and entering new regions more actively. Now, it is important not only where to trade, but also what else the platform can offer the user.
What This Means for the Market in the Near Future
Pressure from regulators is already starting to be felt. Exchanges that do not manage to adapt to new requirements risk losing access to certain markets or facing restrictions.
Because of this, the behavior of the platforms themselves is changing. Some are actively obtaining licenses and building operations according to the rules, while others are moving to more flexible jurisdictions.
For users, the difference is becoming more noticeable. There are platforms with clear rules and restrictions, and there are more flexible services with more opportunities but also more risks.
