MEXC's New Leadership Charts Course for EU Compliance as Exchange Hunts Global Licenses

MEXC has appointed Vugar Usi as CEO, marking a significant leadership shift as the exchange accelerates its pursuit of regulatory licenses across major markets, particularly the European Union's MiCA framework. Usi, who previously served as chief operating officer at rival exchange Bitget, joined MEXC in the same COO capacity in late 2025 before his promotion this week.

The move signals MEXC's intensifying focus on compliance and institutional legitimacy amid intensifying competition in the crypto trading landscape. According to Usi, the exchange plans to maintain its signature low-fee trading model while simultaneously expanding multi-asset access across its platform—a strategy reflecting the broader industry shift toward "everything exchange" positioning.

MiCA Compliance: A Strategic Imperative

For MEXC, securing MiCA licensing in the EU represents more than regulatory checkboxes—it's a top strategic priority. Usi confirmed to Cointelegraph that the company is engaged in active preparations to establish a fully compliant business entity within European jurisdictions. "The MiCA license application is a top strategic priority for the company," he stated, emphasizing MEXC's commitment to navigating the evolving global regulatory landscape.

The timing matters. European regulators currently flag MEXC as non-compliant following Dutch authorities' action in September 2025, when they cited the platform for operating crypto services in the Netherlands without proper licensing. This regulatory pressure underscores why compliance has become non-negotiable for exchanges seeking sustained growth and institutional partnerships.

MEXC isn't alone in this race. Binance, the world's largest exchange by reported volume, filed for MiCA licensing in Greece this January, demonstrating how competitive—and politically nuanced—Europe's licensing process has become.

The Growth Story Behind the Compliance Push

MEXC's leadership restructuring occurs against a backdrop of impressive market performance. Founded in April 2018, the exchange has emerged as one of the fastest-growing centralized exchanges globally, reporting daily trading volumes around $2.2 billion per CoinGecko data. That growth trajectory matters: CryptoQuant's Exchange Leader Index ranks MEXC among the top three exchanges alongside Binance and Gate.io, with particularly strong momentum in crypto derivatives trading.

The exchange has built credibility through strategic partnerships, including blockchain security audits via Hacken and meaningful collaboration with The Open Network (TON). MEXC Ventures even backed TON's funding round in late 2023, signaling the exchange's confidence in emerging blockchain ecosystems.