Just after the fifth anniversary of the enactment of the Law to Regulate Financial Technology Institutions, known as fintech lawthe authority has granted the final guarantee to Capital Funding Lab and expansiveto operate under the protection of this regulatory framework and thus become the 50th and 51st firms to obtain final authorization.
In the next few days, the National Baking and Stock Commission (CNBV) would publish in the Official Gazette of the Federation (DOF) the letters corresponding to the authorizations of these two firms to operate as collective financing institutions, under this law.
This Tuesday, March 28, the Inter-Institutional Committee, made up of authorities from the CNBVBank of Mexico (Banxico) and the Secretariat of Finance and Public Creditresolved the authorization of these two companies to join the regulated fintech world, which is made up of 32 electronic payment fund institutions and 19 collective funding institutions, if the endorsement of these two firms is counted.
The fintech law It was promulgated in March 2018 and despite the fact that there has been a delay in authorizations, the number of regulated fintechs already exceeds the current number of banking institutions in operation, which are 50.
Expansive is a crowdfunding platform focused on financing real estate projects and joins the universe of firms in this market, where M2Crowd, 100 Ladrillos, Arces.mx, Topkapital and Monific are located.
Likewise, it is expected that in the coming weeks the final guarantees for Briq.mx and PM2.mx, which are also focused on real estate crowdfunding, will also be published.
For its part, Capital Funding Lab is a platform focused on collective funding for both individuals and SMEs.
With these authorizations, it is expected that at least a dozen more requests will be resolved favorably in the coming weeks.
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