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Equity Requirements For Fintech

Author:Mr Fernando Erana and Carlos Ugalde
Profession:Solcargo
 
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The provisions published on September 10th, in the Mexican Official Gazette (the "Provisions") mention the minimum equity requirements a fintech must comply with, depending on the activities they intend to carry out, pursuant to the following:

Collective Financing Institutions

Electronic Payment Funds Institutions

One type of Operation according to the following:

Collective Financing Institutions: debt, capital or co-ownership or royalties. Electronic Payment Funds Institutions: authorized to perform operations in national currency and no other additional operations. 500,000 UDIS

(approx. $3'050,000 MXN)

500,000 UDIS

(approx. $3'050,000 MXN)

Two or more types of operation

700,000 UDIS

(approx. $4'270,000 MXN)

700,000 UDIS

(approx. $4'270,000 MXN)

Virtual assets, operations with foreign currency

700,000 UDIS

(approx. $4'270,000 MXN)

700,000 UDIS

(approx. $4'270,000 MXN)

Operate, design or market financial instruments derivatives that have virtual assets as underlying assets.

700,000 UDIS

(approx. $4'270,000 MXN)

700,000 UDIS

(approx. $4'270,000 MXN)

Clearinghouse in the networks of means of disposal

N/A

700,000 UDIS

(approx. $4'270,000 MXN)

Regardless being authorized to perform only one type of operation, fintech that have obtained the registration of their debt securities in the National Securities Registry of the CNBV must comply with a minimum equity of 700,000 UDIS (approx...

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