MEXC Global, a user-friendly cryptocurrency exchange, aims to further comply with laws and regulations in different countries to accelerate crypto adoption and boost trader confidence.
With a recovering global economy bouncing after being shredded by the COVID-19 pandemic, investors are seeking alternatives, and most are flocking to find refuge in crypto. According to a recent Finbold report, there are over 295 million crypto users as of the end of 2021, representing a 178 percent jump from 2020. The number is expected to increase in the days ahead, especially in 2022, as crypto’s profile rises due to increasing adoption and exemplary performance over the past 18 months.
In anticipation, MEXC Global is strategically adopting an approach aimed at significantly building user trust and confidence by being compliant with existing laws and guidelines set by regulators in leading jurisdictions, especially in the U.S., Europe, and Asia.
MEXC Global Compliance Roadmap
As of mid-July 2022, MEXC Global had obtained three compliance licenses. The first license was acquired in 2019. Under the guidance of FinCEN, the exchange obtained the U.S. MSB permit. Later, in March 2020, the exchange got approvals from the Australian chief regulator, AUSTRAC. In the same year, the exchange was accepted as a member of Switzerland’s VQF, an association that complies with FINMA’s laws.
These three major milestones further propelled MEXC Global’s profile in the highly competitive crypto trading scene, drawing investors and traders. By adhering to laid out laws, mostly tuned to protect investors against rogue exchanges and funds, users are free to register with the exchange because permits are issued first after thorough vetting and meeting bare minimums. By being readily accessible, MEXC Global is effectively one of the drivers of crypto adoption.
Their decision to seek regulatory approval significantly raises the exchange’s credibility and boosts user confidence. By complying with applicable laws, users are typically protected against unforeseen circumstances such as hacks that might significantly impact liquidity and even permanently damage reputation.
Partnership with Established Payment Processors
MEXC Global has also partnered with traditional financial processors such as Visa and MasterCard, availing traditional and familiar payment methods to crypto users who may want to leverage these processors’ infrastructure when depositing or withdrawing funds. Their partnership is timely and follows MEXC Global’s successful launch of the Global Bank Transfer Program (GBTP). Under this program, the exchange’s clients in Europe and the United States can readily deposit and withdraw USD via SWIFT and Fedwire networks. Those using this system can transact for free and conveniently on MEXC Global.
MEXC Global has also launched an over-the-counter (OTC) payment system and a peer-to-peer trading portal that enables its customers to use approved third-party platforms such as Simplex and Banxa.
To complement their global compliance drives, MEXC Global uses a highly efficient matching engine that can process 1.4 million transactions per second. Moreover, the exchange takes the security of its clients’ funds seriously by adopting enterprise-grade security measures such as fund segregation and using multi-sig cold wallets.