Regulatory Alerts2023-11-16 | DOF 5708749Added
Office Memorandum Granting Authorization for the Organization and Operation of an Electronic Payment Funds Institution Named XC NETWORKS, S.A. de C.V., Electronic Payment Funds Institution
Authorization is granted for the organization and operation of XC NETWORKS, S.A. de C.V. as an Electronic Payment Funds Institution with indefinite duration and initial social capital of $41'225,000.00 MXN. The entity is domiciled in Ciudad Juárez, Chihuahua, and is authorized to perform services outlined in Articles 22 and 25 of the Law to Regulate Financial Technology Institutions, including the issuance and administration of electronic payment funds. The institution is subject to supervision by the National Banking and Securities Commission and the Bank of Mexico and must comply with applicable regulations regarding illicit resources and terrorism financing.
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