According to online reports, Binance has established Medá, a regulated electronic payment fund institution (IFPE) in Mexico, and plans to invest more than 1 billion pesos (approximately US$53 million) in it over the next four years. Officials said Medá will provide fiat currency deposit and withdrawal services, operated by an independent vertical team, focusing on promoting the development of Binance financial technology services throughout Latin America and setting a new benchmark for innovation, compliance and user trust.