MEXC
From Wikipedia, the free encyclopedia
MEXC (formerly MEXC Global) is a centralized cryptocurrency exchange founded in 2018. The platform offers trading services for digital assets, including spot trading, derivatives trading, and other cryptocurrency-related financial products.
| Company type | Private |
|---|---|
| Industry | Cryptocurrency exchange |
| Founded | 2018 |
| Products | Cryptocurrency trading, derivatives trading |
| Services | Spot trading, futures trading, crypto custody |
| Website | www |
The exchange operates internationally and lists a large number of digital tokens for trading. It is considered on of the largest cryptocurrency exchanges.[1][2][3][4] It is not authorized by tier-one financial regulators and primarily operates as an offshore exchange.[5] It has also been the subject of warnings by financial regulators in several jurisdictions regarding licensing and regulatory compliance.[6] It is listing thousands of tokens, but the liquidity for each token tends to be dispersed and shallow.[7]
History
Ownership and investors
MEXC is a privately held cryptocurrency exchange. Publicly available information about its shareholders, ultimate beneficial owners, and capitalization structure is limited, and the company has not published detailed disclosures about its ownership or equity financing in major financial filings. The group structure is opaque.
Regulatory problems
MEXC has been the subject of warnings by financial regulators in multiple jurisdictions regarding the provision of services without proper authorization.
In October 2023, Germany's financial regulator BaFin warned consumers that the platform may be offering cryptocurrency custody services in Germany without the required license.[1] In 2024, the Securities and Futures Commission of Hong Kong added MEXC to its alert list of suspicious virtual asset trading platforms, stating that it may have been operating without the necessary regulatory authorization. The platform allegedly attracted victims with free financial advice via social media, then directed them to deceptive websites posing as legitimate investment platforms.[10]
Japan’s Financial Services Agency has also issued warnings regarding the platform’s operation without the necessary registration required for cryptocurrency exchanges in the country.[11] Financial authorities in other jurisdictions (including Belgium, Dubai or United Kingdom) have also issued warnings about unlicensed cryptocurrency platforms offering services to local investors.[12][13][14][15][16]
In November 2023, Estonia’s FIU revoked the license of MEXC Estonia, which had previously processed payments for the exchange. The action formed part of a wider regulatory effort to strengthen oversight of virtual asset service providers.[5][17]