CryptoSlate
MEXC is withdrawing from France, its fourth country-level retreat since September, as CEO Vugar Usi pursues a broader trading-platform strategy. The exchange said it will gradually end French services, automatically close outstanding positions by Jan. 22, 2027, and stop withdrawals on March 5. Earlier exits covered the Netherlands, Russia and Belarus.
Why it matters
France's AMF blacklisted MEXC in June 2024 for offering financial services without the required authorization. Europe's MiCA framework adds pressure on crypto service providers to obtain authorization, making regulatory access a constraint on MEXC's plans to serve customers across asset classes.
The exchange is directing affected French customers toward EU-regulated platforms, but users must open accounts and transfer their holdings themselves. Positions still open on Jan. 22 will be settled automatically based on prevailing market conditions and available liquidity, which could mean losses or additional fees. Assets left after the withdrawal deadline will go to a regulated custodian that MEXC has not identified.
Market impact
MEXC is trying to turn its base of about 40 million users, more than 90% of them retail, into an audience for products beyond crypto. Its September report showed tokenized US stock spot volume up 81% month over month and AI-related tokenized equities and ETFs up 88%. The exchange says it offers more than 200 tokenized US equities and over 450 stock and index futures pairs, alongside RealStocks access to more than 7,000 US stocks and ETFs.
Those expansion efforts also include exploratory partnership discussions with Payward, Kraken's parent, on market access, trading infrastructure and liquidity. No definitive agreement or operational integration has been announced. For MEXC, the test is whether new products and partnerships can offset the loss of access in markets where regulatory requirements are tightening.
Frequently asked questions
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Which countries has MEXC withdrawn from since September?
MEXC's retreats cover the Netherlands, Russia, Belarus and France.
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When will MEXC close French positions and end withdrawals?
MEXC says outstanding positions will be closed automatically by Jan. 22, 2027, and withdrawals will end March 5.
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What could happen to open positions when MEXC closes them?
Positions will be settled based on prevailing market conditions and available liquidity, which could expose customers to losses or additional fees.
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Why is France a significant market exit for MEXC?
France's AMF blacklisted MEXC in June 2024 for offering financial services without required authorization, while MiCA adds authorization requirements for crypto service providers.
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What is MEXC doing to expand beyond crypto trading?
MEXC is growing tokenized stock and other traditional-market products and has discussed a potential partnership with Payward, Kraken's parent. No definitive deal has been announced.
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