New MEXC CEO Vugar Usi drives push for European MiCA licensing
Cryptocurrency exchange MEXC named Vugar Usi as its chief executive and revealed strategies to grow its zero-fee trading services while seeking MiCA compliance in the European Union.
On Wednesday, MEXC named Vugar Usi as its chief executive officer, promoting the senior executive as the cryptocurrency exchange accelerates its efforts to secure worldwide regulatory licenses, including authorization under the European Union's Markets in Crypto-Assets Regulation (MiCA) regulatory framework.
According to MEXC, Usi came aboard as the company's chief operating officer in the latter part of 2025, having previously held an identical role at competing cryptocurrency exchange Bitget.
Speaking about his new leadership position, Usi indicated that MEXC intends to maintain its commitment to low-fee trading while simultaneously broadening multi-asset accessibility across the exchange platform.
Speaking with Cointelegraph, the chief executive revealed that MEXC is currently pursuing licensing pathways on a global scale, which includes obtaining a MiCA license within the European Union.
The transformation at MEXC arrives in tandem with a comprehensive brand refresh, underscoring an industry-wide movement toward "everything exchange" frameworks as competition intensifies from decentralized alternatives.
MiCA license a "top strategic priority"
With operations spanning numerous regions around the world, MEXC "consistently maintains a close watch" on the worldwide regulatory environment, Usi explained to Cointelegraph.
"The MiCA license application is a top strategic priority for the company," he said, noting that the organization is undertaking proactive preparations to build a fully compliant business entity inside the European Union.
Further specifics regarding its MiCA licensing strategy were not disclosed by MEXC. The exchange currently carries a non-compliant designation from European regulatory bodies following Dutch authorities' decision to flag the trading platform in September 2025 for offering cryptocurrency services within the Netherlands while lacking the necessary operating license.
Several leading exchanges continue navigating Europe's MiCA regulatory process, demonstrating just how competitive and politically charged the licensing competition has evolved. Binance, recognized as the world's largest cryptocurrency exchange based on reported trading volume, submitted its MiCA license application in Greece during January.
MEXC posts rapid growth in crypto market
Established in April 2018, MEXC has risen to become among the most rapidly expanding centralized exchanges on a global scale, recording daily trading volumes of approximately $2.2 billion, based on data from CoinGecko.
Cryptocurrency analytics service CryptoQuant identified MEXC as one of the top three exchanges within its Exchange Leader Index alongside Binance and Gate, while the platform also secured a position among those demonstrating the most substantial growth alongside Gate and Coinbase.
The exchange has established significant partnerships, including an auditing partnership with blockchain security platform Hacken. MEXC has also maintained close cooperation with The Open Network (TON), which received financial backing from the exchange's investment division, MEXC Ventures, during late 2023.