MEXC

Centralized cryptocurrency exchange offering spot and futures trading, earn products and a payment card, registered in Seychelles. It reports more than 40 million users in over 170 countries and regions.

Industry: Cryptocurrency exchange | Location: Victoria, Seychelles | Founded: 2018

About MEXC

MEXC is a centralized cryptocurrency exchange that offers spot and futures trading. Data providers list it as founded in 2018 and registered in Seychelles, with its address given as Victoria or on the island of Mahé depending on the source. Dealroom says the company was previously known as MXC Exchange and rebranded to MEXC Global in June 2021 as part of an international expansion. The exchange does not publicly name a founder or chief executive; third-party profiles give conflicting names, so none is listed here. User numbers vary by source. A March 2025 Cointelegraph review put MEXC at more than 10 million users in over 170 countries with more than 3,100 trading pairs. In a January 2026 annual report the company said it served 40 million users and had listed 2,287 projects in 2025, and that spot and futures volumes each grew more than 130 percent year on year. Those figures come from company press releases, and a statistics site cites 36 million registered users and about 2,448 pairs. A central part of the company's positioning is zero-fee trading. MEXC says it removed fees on 3,026 spot pairs and 203 futures pairs in 2025 and that users saved about USD 1.1 billion as a result. On security, MEXC publishes monthly proof-of-reserves reports audited by Hacken, built on Merkle tree verification. Its August 2026 report put the BTC reserve ratio at 288 percent and the USDT ratio at 115 percent. The company describes a USD 100 million Guardian Fund for user protection, which it plans to enlarge to USD 500 million over two years. These are the company's own statements. In the Gulf, a 2022 Gulf Today article reported that MEXC had entered the Middle East market and claimed a leading regional position by volume, citing licences in five countries. Regulators have since taken a harder line. In March 2026 Dubai's Virtual Assets Regulatory Authority (VARA) issued an investor alert saying that MEXC Estonia OÜ and MEXC Global LTD, operating as MEXC under the mexc.com domain, held no licence to provide virtual asset services in or from Dubai, and ordered them to stop. On 22 June 2026 VARA published a notice of fines against MX Global LTD, which operates as MEXC. It found that the entity had provided broker-dealer or exchange services to customers in Dubai without a licence from 2022 to April 2026 and had onboarded users without meeting UAE know-your-customer requirements. VARA said the company cooperated and complied with its cease-and-desist orders. CoinDesk's tag page also reports that Hong Kong's regulator said MEXC was operating without a licence.

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