NVIO: First Regulated Fintech in Mexico
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NVIO: First Regulated Fintech in Mexico

Photo by:   Nicholas Cappello, Unsplash
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By MBN Staff | MBN staff - Thu, 12/03/2020 - 10:35

In early 2021, NVIO will officially start operations as the first regulated fintech, after having completed its auditing process by the National Banking and Securities Commission (CNBV) and Banxico. "We are very excited, as we are offering users a new way to manage their money through a 100 percent Mexican platform, without commissions, with absolute control 24 hours a day and all from one place, using their computer or smartphone," said NVIO Director of Risk and Corporate Affairs Felipe Vallejo in a statement. 

Due to the pandemic, Mexican financial authorities carried out the first audit to initiate operations of a Financial Technology Institution (ITF) remotely. This authorization from the CNBV allows NVIO to offer services involving the issuance, management, redemption and transmission of electronic payment funds through computer applications, interfaces, websites or any other electronic or digital communication media.

NVIO was the first of the 85 Fintech companies to apply to the CNBV. Sixty applications were submitted as Electronic Payment Fund Institutions and 25 as crowdfunding companies. In November 2019, Bitso changed its name to NVIO, which is currently chaired by José Pablo González and directed by Daniel Vogel.

More news below:

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Photo by:   Nicholas Cappello, Unsplash

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