MEXC Appoints New CEO Vugar Usi: MiCA-Focused

MEXC appointed Vugar Usi as CEO on Wednesday. This appointment took place as the exchange intensifies its efforts to obtain global licenses, including under the European Union's Markets in Crypto-Assets Regulation (MiCA) framework. Usi joined the company as Chief Operating Officer at the end of 2025 and previously held the same position at rival Bitget.

Vugar Usi's Leadership Vision and Goals

In his new role, Usi stated that they aim to expand multi-asset access on the platform while maintaining the low-fee trading model. Speaking to Cointelegraph, the CEO emphasized that the MiCA license application is the company's top strategic priority. He expressed that they are preparing to establish a fully compliant business unit in the EU. This strategy aims to strengthen MEXC's competitive advantage in popular assets like AB detailed analysis.

MiCA License Process and Netherlands Warnings

MEXC was labeled non-compliant by Dutch authorities in September 2025 for offering services without a license. MiCA introduces standards for crypto services across the EU, highlighting the license requirement. Under Usi's leadership, the company is targeting the European market by complying with these regulations. This step stands out as a common response from global exchanges to regulatory pressures.

MEXC's Market Leadership and Growth Dynamics

Founded in 2018, MEXC is one of the world's fastest-growing centralized exchanges with a daily trading volume of approximately 2.2 billion dollars according to CoinGecko data. It ranks in the top three alongside Binance and Gate in the CryptoQuant Exchange Leader Index. The platform, which stands out with low fees and a wide range of assets, attracts users with products like AB futures. Usi's appointment will consolidate this growth momentum with licensed operations.

This development reflects MEXC's efforts to balance growth with regulatory compliance.