MSB Mexico
A Money Transmitter license permits a company to:
Transfer money or value: The company can operate in transferring funds domestically and internationally.
Issue and manage payment Instruments: This includes handling checks, money orders, and electronic transfers.
Provide remittance services: This license covers services for sending money abroad, a common need among immigrant communities.
Registration application process to operate as a Money Transmitter:
- Business Model
- Preparation of the infrastructure.
- Iteration of the documentation
- Coordination for obtaining the technical opinion.
- Written request (formal)
We will guide you through the services that your Money Transmitter can offer.
We will make recommendations for optimizing the platform in terms of the Law and its general provisions.
During preparation of the documentary/legal infrastructure, we will provide you with accelerators that will work under the Agile methodology.
*Accelerators are versions of the document that contain the minimum viable infrastructure. In parallel, we will train you to build the rest of the document so that you can launch it efficiently, with one-week sprints, as well as review it until you have the final version.
Other Requirements:
- Compliance Officer, certified by the National Banking and Securities Commission.
- Physical establishment
- Payment of official fees (2,900 EUR)
Third Party Requirements:
- Developers who can modify your platform for legal compliance;
- Personal data protection officer, risk management officer, managing director, chief information security officer.
*This can be you as there are no special requirements.
Money transmitter infrastructure with physical operations:
• 44.900 EUR
MTPO: Allows sending of resources (Fiat, BTC, Alt coins and Stable coins) with a physical branch and in-person clients
Money transmitter infrastructure with digital operations:
• 55.900 EUR
MTDO: Allows sending of resources (Fiat, BTC, Alt coins and Stable coins) with non-face-to-face digital operations (approximate monthly limit of USD 5K to 7K per user, regardless of the number of operations and is per month; limited to natural and legal clients of Mexican nationality; clients of foreign nationality will only be able to make purchases through physical/face-to-face channels).
