Authorization for the Organization and Operation of Trafalgar Digital, S.A. de C.V., Electronic Payment Funds Institution — SHCP — MX

DOF: 18/03/2021

OFFICE notice by which the authorization for the organization and operation of an electronic payment funds institution to be named Trafalgar Digital, S.A. de C.V., Electronic Payment Funds Institution, is made known.

A seal bearing the National Coat of Arms appears at the margin, stating: United Mexican States.- TREASURY.- Ministry of

Finance and Public Credit.- National Banking and Securities Commission.- Presidency.- Office No.: P035/ 2021.

Subject:

Authorization for the organization and operation of

an electronic payment funds institution to

be named Trafalgar Digital, S.A. de C.V.,

Electronic Payment Funds Institution.

TRAFALGAR DIGITAL, S.A. DE C.V.

Río Marne No. 23,

Renacimiento Neighborhood, Postal Code 06500,

Cuauhtémoc, Mexico City

TO:

MR. JOSÉ PORFIRIO SÁNCHEZ TALAVERA BEILES

MR. ERIK GARCÍA BALCAZAR

Legal Representatives

With a writing presented on August 27, 2020, Trafalgar Digital, S.A. de C.V. requested from the National Banking and Securities Commission (Commission) authorization to organize and operate as an electronic payment funds institution to be named Trafalgar Digital, S.A. de C.V., Electronic Payment Funds Institution, accompanying the request with the corresponding supporting information and documentation.

As background, it should be noted that this Commission warned Trafalgar Digital, S.A. de C.V. within the timeframe established in the Law to Regulate Financial Technology Institutions, so that it addressed various observations and recommendations regarding its authorization request.

In relation to the above, Trafalgar Digital, S.A. de C.V. submitted various documents and information in order to respond to the aforementioned warning.

Regarding this matter, the Interinstitutional Committee in session held on March 4, 2021, based on articles 11 and 35, in relation to articles 22 and 25 of the Law to Regulate Financial Technology Institutions, and

CONSIDERING

FIRST.- That the documentation and information presented in connection with the authorization request for the organization and operation of the electronic payment funds institution to be named Trafalgar Digital, S.A. de C.V., Electronic Payment Funds Institution, complies with the requirements provided for in article 22, in relation to article 39 of the Law to Regulate Financial Technology Institutions and with articles 3, 4 and 6 of the General Provisions applicable to Financial Technology Institutions, as well as with the rest of the regulation that corresponds to it by its nature;

SECOND.- That from the analysis of the received documentation and information it was concluded that from the legal, financial and operational point of view it is appropriate to grant the requested authorization, therefore the following was adopted:

AGREEMENT

"SEVENTH. - The members of the Interinstitutional Committee, based on articles 11 and 35, in relation to article 22 of the Law to Regulate Financial Technology Institutions," authorize the

organization and operation of an Electronic Payment Funds Institution to

be named Trafalgar Digital,

S.A. de C.V., Electronic Payment Funds Institution, under the terms of the proposal presented to the

Committee. "

The foregoing agreement is adopted without prejudice to the other authorizations that must be obtained from the National Banking and Securities Commission in connection with the described act, in accordance with the applicable provisions, as well as the exercise of the powers attributed to said Commission during the organization process of

Trafalgar Digital, S.A. de C.V., Electronic Payment Funds Institution, in which all conditions and requirements imposed by the Commission itself must be met.

The entity whose organization and operation is authorized will be subject to the following:

BASES

FIRST.-

The name of the company will be Trafalgar Digital, S.A. de C.V., Electronic Payment Funds

Institution.

SECOND.-

It will have its corporate domicile in Mexico City.

THIRD.-

Its duration will be indefinite.

FOURTH.-

The amount of its initial social capital will be $24,000,000.00 (twenty-four million 00/100

M.N.), represented by 240,000 ordinary shares Series A and Series B, with nominal value

of $100.00 (one hundred Pesos 00/100 M.N), each, of which 60,000 are representative

of the fixed social capital without right of withdrawal and 180,000 representative of the variable social

capital.

FIFTH.-

Its corporate purpose will correspond to the activities indicated in article 22 of the Law to

Regulate Financial Technology Institutions and will carry out the operations and the

provision of services established in article 25, sections I, III, IV, VII, IX, X and XIII

of the aforementioned Law to Regulate Financial Technology Institutions.

SIXTH.-

The authorization referred to in this office notice is, by its very nature,

intransmissible.

SEVENTH.-

The institution will be subject to the supervision of the National Banking and Securities Commission

and of the Bank of Mexico, in the exercise of their respective attributes, as well as,

the other competent financial authorities in the terms that the laws provide.

EIGHTH.-

The services consisting of the issuance, administration, redemption and transmission of electronic

payment funds that the institution provides by virtue of the present authorization, as well

as the other operations it carries out, just like its organization and operation in

general, will be subject, in what is not expressly stated in this office notice, to the Law to

Regulate Financial Technology Institutions, to the rules and general provisions applicable to Financial Technology Institutions issued by the

National Banking and Securities Commission, to the provisions regarding its operations

issued by the Bank of Mexico and to the other current norms and provisions and those that are

issued in the future by any competent authority, including those related to

operations with resources of illicit origin and terrorism financing, that by their

nature result applicable.

In accordance with what is established in article 69, section VI of the Law to Regulate Financial Technology

Institutions, the present authorization may be revoked if Trafalgar Digital, S.A. de C.V., Electronic Payment Funds

Institution does not begin operations within a period of six months counted from the notification of the

present authorization.

For the purposes of the above, Trafalgar Digital, S.A. de C.V., Electronic Payment Funds

Institution must certify to this Commission at least thirty business days in advance of the start of its

operations, compliance with the requirements established in article 40 of the Law to Regulate Financial

Technology Institutions.

Finally, in a separate office notice, this Commission will make known to said society the various

documentation and information that Trafalgar Digital, S.A. de C.V., Electronic Payment Funds Institution

must certify to this authority in accordance with what is established in article 40 of the Law to Regulate

Financial Technology Institutions.

This is issued based on articles 16, sections I and XVII of the Law of the National Banking and Securities Commission and 12 and 41, sections I and III of the Internal Regulations of the National Banking and Securities Commission.

Respectfully

Mexico City, March 5, 2021. - The President, Juan Pablo Graf Noriega. - Rubric.

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