Office letter granting authorization for the organization and operation of an electronic payment funds institution to be named Klu Tech, S.A.P.I. de C.V., Electronic Payment Funds Institution

Official Gazette of the Federation: 16/11/2023

OFFICIAL LETTER granting authorization for the organization and operation of an electronic payment funds institution to be named Klu Tech, S

In the margin a seal with the National Shield, which says: United Mexican States.- TREASURY.- Secretariat of Treasury and Public Credit.- National Banking and Securities Commission.- Presidency.- Office Letter No.: P153/ 2021.

Subject:

Authorization for the organization and operation of an

electronic payment funds institution to

be named Klu Tech, S.A.P.I. de C.V., Institution

of Electronic Payment Funds.

KLU TECH, S.A.P.I. DE C.V.

Sierra Gorda No. 42, Floor 4,

Neighborhood Lomas de Chapultepec, Section 8, Postal Code 11000,

Miguel Hidalgo, Mexico City.

ATTENTION:

Mr. CARLOS FERNÁNDEZ LAFRAMBOISE

Mr. ISAAC KOHAB TRONLLAN

Legal Representatives

With a document presented on September 25, 2019, Bitrus Wallet, S.A.P.I. de C.V.

(Klu Tech or the

company) requested from the National Banking and Securities Commission (Commission) authorization to organize and

operate as an Institution of Electronic Payment Funds to be named Klu Tech, S.A.P.I. de C.V.,

Institution of Electronic Payment Funds, attaching for this purpose the corresponding supporting information and documentation.

As a background, it should be noted that this Commission prevented Klu Tech within the established period in the

Law for Regulating Financial Technology Institutions, in order to address various observations and

recommendations in relation to its authorization request, granting it the requested extension to

this authority.

In relation to the above, Klu Tech sent various documentation and information in order to give

response to the aforementioned prevention. Likewise, this authority required Klu Tech various

complementary documentation and information in order to be in conditions to attend its request for

authorization, so that, that company attended the request for complementary information and sent

updated documentation and information in relation to its file. The company requested an extension

to the resolution period and an extension for the processing which were granted.

On the matter, the Interinstitutional Committee in session held on June 7, 2021, based

on articles 11 and 35, in relation to article 22 of the Law for Regulating Financial Technology Institutions and,

CONSIDERING

FIRST.- That the documentation and information presented on the occasion of the authorization request

for the organization and operation of the electronic payment funds institution to be named Klu Tech,

S.A.P.I. de C.V., Institution of Electronic Payment Funds, complies with the requirements provided in article

22, in relation to article 39 of the Law for Regulating Financial Technology Institutions and with the

articles 3, 4 and 6 of the General provisions applicable to Financial Technology Institutions.

SECOND.- That from the analysis of the documentation and information received it was concluded that from the

legal, financial and operational point of view it is appropriate to grant the requested authorization, so 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 for Regulating Financial Technology Institutions, approve by

unanimity the authorization for the organization and operation of an Institution of Electronic Payment Funds

to be named Klu Tech, S.A.P.I. de C.V., Institution of Electronic Payment Funds, in the terms of the

proposal presented to the Committee. " .

The previous agreement is adopted without prejudice to the other authorizations that on the occasion of the described act

must be obtained from the National Banking and Securities Commission, in terms of the applicable provisions,

as well as the exercise of the powers attributed to the Commission itself during the organization process of

Klu Tech, S.A.P.I. de C.V., Institution of Electronic Payment Funds, in which all

the conditions and requirements that the Commission itself imposes on it must be fulfilled.

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

CONDITIONS

FIRST.-

The name of the company shall be Klu Tech, S.A.P.I. de C.V., Institution of Electronic

Payment Funds.

SECOND.-

It shall have its corporate domicile in Mexico City.

THIRD.-

Its duration shall be indefinite.

FOURTH.-

The amount of its minimum initial share capital must be at least the equivalent in

national currency to 700,000 Investment Units (UDIs).

FIFTH.-

Its corporate purpose shall correspond to the realization of all activities in currency

national contemplated in articles 22 and 25, sections I, II, III, IV, VII, VIII, IX, X and XIII

of the Law for Regulating Financial Technology Institutions .

SIXTH.-

The authorization referred to in this office letter is, by its own nature,

non-transferable.

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, of the

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

EIGHTH.-

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

of electronic payment that the institution provides by virtue of this authorization, as

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

general, will be subject, in what is not expressly indicated in this office letter, to the Law for

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

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

issues the Bank of Mexico and to the other norms and provisions in force and those that

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

operations with resources of illicit origin and financing of terrorism, which by its

nature are applicable.

In relation to the above exposed, Klu Tech must observe the terms and attend the obligations

contained in office letter P154/2021 dated June 10, 2021.

The present, is issued based on articles 16, sections I and XVII of the Law of the Commission

National Banking and Securities and 12 and 41, section I of the Internal Regulations of the Commission National Banking and Securities.

Sincerely,

Mexico City, June 10, 2021.- President, Juan Pablo Graf Noriega .- Signature.

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