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 — SHCP — MX

Official Gazette of the Federation: 16/11/2023

OFFICE MEMORANDUM granting authorization for the organization and operation of an electronic payment funds institution to be named XC NETWORKS, S

In the margin a seal with the National Shield, stating: United Mexican States.- TREASURY.- Secretariat of Finance and Public Credit.- National Banking and Securities Commission.- Presidency.- Office Memorandum No.: P156/ 2021.

Subject:

Authorization for the organization and operation of an

electronic payment funds institution to

be named XC NETWORKS, S.A. de C.V.,

Electronic Payment Funds Institution.

XC NETWORKS, S.A. DE C.V.

Montes Urales No. 754, Floor 3,

Lomas de Chapultepec Neighborhood, Postal Code 11000,

Miguel Hidalgo, Mexico City.

ATTN.:

Citizen CARLOS MARTÍN CASTAÑEDA MÁRQUEZ

Legal Representative

With documents presented on September 25 and 26, 2019, XC NETWORKS, S.A. de C.V. (XC

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

and operate as an Electronic Payment Funds Institution to be named XC NETWORKS, S.A. de C.V.,

Electronic Payment Funds Institution, attaching thereto the corresponding supporting information and documentation.

As a background, it should be noted that this Commission prevented XC NETWORKS within the period

established in the Law to Regulate Financial Technology Institutions, in order that it attend to various

observations and recommendations in relation to its authorization request, granting thereto the

requested extension to this authority.

In relation to the above, XC NETWORKS sent various documentation and information in order to give

response to the prevention referred to above. Likewise, this authority required from XC NETWORKS, various

complementary documentation and information in order to be in conditions to attend to its authorization request, so that, that society attended to the complementary information requirement and sent

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

to the resolution period which was granted.

On the matter, the Interinstitutional Committee in session held on June 14, 2027, 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 on the occasion of the authorization request

for the organization and operation of the Electronic Payment Funds Institution to be named

NETWORKS, S.A. de C.V., Electronic Payment Funds Institution, complies with the requirements provided in

article 22, in relation to article 39 of the Law to Regulate Financial Technology Institutions

and with articles 3, 4 and 7 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

" FIRST.- 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, approve by

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

to be named XC Networks, S.A. de C.V., Electronic Payment Funds Institution, 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 own Commission during the organization process of

XC NETWORKS, S.A. de C.V., Electronic Payment Funds Institution, in which all

conditions and requirements that the own Commission imposes on it shall be met.

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

BASES

FIRST.

The name of the society will be XC NETWORKS, S.A. de C.V., Electronic Payment Funds

Institution

SECOND.

It will have its social domicile in Ciudad Juárez, Chihuahua.

THIRD.

Its duration will be Indefinite.

FOURTH.

The amount of its initial authorized social capital will be $41'225,000.00 (forty-one

million two hundred twenty-five thousand pesos 00/100 National Currency.).

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 the services established in article 25, sections I, III, IV, VII, VIII, IX and X

of the referred Law to Regulate Financial Technology Institutions.

SIXTH.

The authorization referred to in this office memorandum 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 that it carries out, as well as its organization and operation in

general, will be subject, in what is not expressly indicated in this office memorandum, 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 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 their

nature result applicable.

In relation to the above exposed, XC NETWORKS, S.A. de C.V., Electronic Payment Funds

Institution must observe the terms and attend to the obligations contained in Office Memorandum No. P157/2021

dated June 17, 2021.

The present, 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, June 17, 2021.- President, Juan Pablo Graf Noriega .- Signature.

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BY DATE

INDICATORS

Exchange Rate and Rates as of 26/08/2026

DOLLAR

16.9460 UDIS

8.807698 TIIE 28 DAYS

6.7559% TIIE 91 DAYS

6.7931% TIIE 182 DAYS

6.8474% TIIE FUNDING

6.50%

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