MEXC appointed Vugar Usi as CEO on Wednesday, elevating the executive as the exchange steps up its push for global licensing, including under the European Union’s Markets in Crypto-Assets Regulation (MiCA) framework.
MEXC said Usi joined the company as chief operating officer in late 2025 after previously serving in the same position at rival exchange Bitget.
In his new role, Usi said MEXC plans to preserve its low-fee trading focus while expanding broader multi-asset access on the platform.
The CEO told Cointelegraph that MEXC is actively pursuing licensing opportunities globally, including a MiCA license in the EU.
MEXC’s changes come alongside a broader brand update, highlighting an industry-wide shift toward “everything exchange” models amid growing competition from decentralized rivals.
MiCA license a “top strategic priority”
Operating across multiple regions worldwide, MEXC “consistently maintains a close watch” on the global regulatory landscape, Usi told Cointelegraph.
“The MiCA license application is a top strategic priority for the company,” he said, adding that the company is engaged in proactive preparations to establish a fully compliant business entity within the EU.
MEXC did not provide additional details on its MiCA licensing plans. The company is currently labeled non-compliant by European regulators after Dutch authorities flagged the platform in September 2025 for providing crypto services in the Netherlands without holding the required license.
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Some major exchanges are still working through Europe’s MiCA process, showing how competitive and politically sensitive the licensing race has become. Binance, the world’s largest exchange by reported volume, applied for a MiCA license in Greece in January.
MEXC posts rapid growth in crypto market
Founded in April 2018, MEXC has emerged as one of the fastest-growing CEXs globally, with reported daily trading volumes of around $2.2 billion, according to CoinGecko.
Crypto analytics platform CryptoQuant named MEXC as one of the top three exchanges in its Exchange Leader Index alongside Binance and Gate, with the exchange also ranking among those with the strongest growth alongside Gate and Coinbase.
Related: Binance led Q1 crypto derivatives as Hyperliquid cracked top 10: CoinGlass
The company has scored major partnerships, including an auditing collaboration with the blockchain security platform Hacken. MEXC also closely collaborated with The Open Network (TON), which secured funding from its venture arm, MEXC Ventures, in late 2023.
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