Tuesday, February 7, 2023

Authorized, the first fintech of 2023

National Culinary and Stock Commission (CNBV) published this Monday the first official letter in line with the 2023 authorizations monific operate as collective financial institution (IFC), and Guarantee Mozper to start activities like electronic payment fund institute (IFPE) is also known in the context of legislation to regulate financial technology institutions Le Fintech,

as i guessed economist Last week, the definitive support of these two companies was given at the most recent meeting of the Inter-Institutional Committee, which is composed of CNBV officials, finance secretary why bank of mexico,

With the approval of these entities since the Fintech Law came into force in March 2018, 46 companies are authorized to operate under the terms of the Fintech Law, of which 29 are IFPE compliant and 17 are IFC compliant.

In the case of IFPE, the process took 421 days from the time the unit submitted its document to obtain authorization on November 24, 2021, while for IFC the resolution time was 1,209 days after the request was made for obtaining the guarantee. , 2019.

For the Mozart entity, the official letter details that the amount of its minimum share capital will be equal to 500,000 investment units (UDIs) in the national currency, while the Monific document details that its authorized initial share capital will be 3 million 400,000 pesos.

Since December 2022, the authority has issued more letters related to crowdfunding fintech, with IFC publishing number three, so the streak of authorized entities continues in less than a month.

During 2022, the CNBV issued 22 authorization letters to financial technology institutions to operate in accordance with the FinTech Law, down from 24 approved during 2021.

Nation World News Desk
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