Electronic payment funds institutions authorised under the Ley Fintech. This page sets out the authorisations a stablecoin business needs in Mexico, who grants each one and what it covers, alongside how many companies hold them today. The figures come from the registers Anvesan reads and are updated as those registers change.
These 50 authorisations belong to 50 companies. The company-level records are in Atlas Pro.
One authorisation can cover several activities, so these figures overlap.
The main activities a stablecoin business may carry out, and the authorisation each one requires. A business carrying out several activities may need more than one licence.
No bespoke crypto-custody licence exists. Credit institutions and ITFs are barred by Banxico Circular 4/2019 from custodying virtual assets for the public. Non-financial firms may custody crypto/keys commercially, but doing so triggers AML obligations as a vulnerable activity under LFPIORPI Art. 17 fr. XVI (virtual-asset intermediation), requiring SAT padron registration, KYC and avisos. Fiat (e-money) custody by contrast requires an IFPE authorisation.
Mexico has no dedicated crypto-exchange/VASP licence. Non-financial exchanges may buy/sell crypto for the public provided they do not take peso/FX deposits (which would be banking/IFPE activity). Operating a crypto exchange is a vulnerable activity under LFPIORPI Art. 17 fr. XVI, requiring SAT AML compliance. Holding customer fiat for the ramp pushes the operator toward an IFPE licence under the Ley Fintech.
Fiat payments / stored value require an IFPE authorisation from CNBV under the 2018 Ley Fintech, or a bank licence. This is the core licence a stablecoin-adjacent payments business actually needs, but it covers peso/FX e-money, not crypto: Banxico Circular 4/2019 bars the IFPE from public-facing virtual-asset operations. Crypto-denominated value transfer is not regulated as money transmission (crypto is not legal tender) and instead triggers LFPIORPI AML obligations.
There is no crypto-specific card regime. Issuing payment cards / loading stored value is done by a bank or by an IFPE under the Ley Fintech; IFPEs may issue cards tied to electronic-payment-fund balances. Cards must be denominated in peso/FX e-money, not stablecoins, because Circular 4/2019 prohibits regulated issuers from public crypto operations. Card-network/BIN access runs through Banxico-supervised payment-card networks.
Cross-border value transfer and remittance for the public is performed by banks, IFPEs (with specific Banxico cross-border/FX-wallet authorisation), or Transmisores de Dinero (money transmitters) registered with CNBV (and SAT) under the LGOAAC and supervised for AML. Stablecoin-based cross-border settlement is not regulated money transmission per se (crypto is not legal tender), but the crypto leg triggers LFPIORPI Art. 17 fr. XVI VASP AML obligations and the fiat payout leg requires a money-transmitter/IFPE/bank licence.
The statutory clock is the formal decision period, where the regulator publishes one. “Observed” is the real-world timeline reported by applicants, not a figure the regulator sets. Capital is the regulatory minimum, not legal or advisory fees. Where a figure is not yet available, we show “Unavailable”; where one exists but Anvesan has not verified it, we show “Not sourced”.
The Atlas column maps a licence to a tracked licence family only where the two are the same thing. Where they are not, it reads Not mapped, and the family counts are in Authorisations by licence above.
The CNBV has a maximum of 180 natural days to resolve an application, and must issue any prevención, its request to correct the file, within 90 natural days. Authorisation carries the favourable opinion of the Ministry of Finance and the Bank of Mexico. Anvesan has not established a statutory deadline, so we do not infer one.
The sector average to an electronic payment funds institution authorisation is about 787 days. Faster outcomes are claimed by advisers for well-prepared files; Anvesan has not verified them and does not quote them.
| Electronic payment funds institutionroughly MXN 35 million, indexed to inflation | 5,000,000 UDIS |
|---|
The UDI is an inflation-indexed unit, so the peso figure moves. Virtual-asset operations need separate Bank of Mexico authorisation on top.
Application fee Not sourced. CNBV charges are set annually under the Federal Fees Law rather than as one published application fee, so there is no single figure to quote.
The CNBV has a maximum of 180 natural days to resolve an application, and must issue any prevención, its request to correct the file, within 90 natural days. Authorisation carries the favourable opinion of the Ministry of Finance and the Bank of Mexico. Anvesan has not established a statutory deadline, so we do not infer one.
The sector average to an electronic payment funds institution authorisation is about 787 days. Faster outcomes are claimed by advisers for well-prepared files; Anvesan has not verified them and does not quote them.
| Electronic payment funds institutionroughly MXN 35 million, indexed to inflation | 5,000,000 UDIS |
|---|
The UDI is an inflation-indexed unit, so the peso figure moves. Virtual-asset operations need separate Bank of Mexico authorisation on top.
Application fee Not sourced. CNBV charges are set annually under the Federal Fees Law rather than as one published application fee, so there is no single figure to quote.
The CNBV has a maximum of 180 natural days to resolve an application, and must issue any prevención, its request to correct the file, within 90 natural days. Authorisation carries the favourable opinion of the Ministry of Finance and the Bank of Mexico. Anvesan has not established a statutory deadline, so we do not infer one.
The sector average to an electronic payment funds institution authorisation is about 787 days. Faster outcomes are claimed by advisers for well-prepared files; Anvesan has not verified them and does not quote them.
| Electronic payment funds institutionroughly MXN 35 million, indexed to inflation | 5,000,000 UDIS |
|---|
The UDI is an inflation-indexed unit, so the peso figure moves. Virtual-asset operations need separate Bank of Mexico authorisation on top.
Application fee Not sourced. CNBV charges are set annually under the Federal Fees Law rather than as one published application fee, so there is no single figure to quote.
The CNBV has a maximum of 180 natural days to resolve an application, and must issue any prevención, its request to correct the file, within 90 natural days. Authorisation carries the favourable opinion of the Ministry of Finance and the Bank of Mexico. Anvesan has not established a statutory deadline, so we do not infer one.
The sector average to an electronic payment funds institution authorisation is about 787 days. Faster outcomes are claimed by advisers for well-prepared files; Anvesan has not verified them and does not quote them.
| Electronic payment funds institutionroughly MXN 35 million, indexed to inflation | 5,000,000 UDIS |
|---|
The UDI is an inflation-indexed unit, so the peso figure moves. Virtual-asset operations need separate Bank of Mexico authorisation on top.
Application fee Not sourced. CNBV charges are set annually under the Federal Fees Law rather than as one published application fee, so there is no single figure to quote.
The CNBV has a maximum of 180 natural days to resolve an application, and must issue any prevención, its request to correct the file, within 90 natural days. Authorisation carries the favourable opinion of the Ministry of Finance and the Bank of Mexico. Anvesan has not established a statutory deadline, so we do not infer one.
The sector average to an electronic payment funds institution authorisation is about 787 days. Faster outcomes are claimed by advisers for well-prepared files; Anvesan has not verified them and does not quote them.
| Electronic payment funds institutionroughly MXN 35 million, indexed to inflation | 5,000,000 UDIS |
|---|
The UDI is an inflation-indexed unit, so the peso figure moves. Virtual-asset operations need separate Bank of Mexico authorisation on top.
Application fee Not sourced. CNBV charges are set annually under the Federal Fees Law rather than as one published application fee, so there is no single figure to quote.
The CNBV has a maximum of 180 natural days to resolve an application, and must issue any prevención, its request to correct the file, within 90 natural days. Authorisation carries the favourable opinion of the Ministry of Finance and the Bank of Mexico. Anvesan has not established a statutory deadline, so we do not infer one.
The sector average to an electronic payment funds institution authorisation is about 787 days. Faster outcomes are claimed by advisers for well-prepared files; Anvesan has not verified them and does not quote them.
| Electronic payment funds institutionroughly MXN 35 million, indexed to inflation | 5,000,000 UDIS |
|---|
The UDI is an inflation-indexed unit, so the peso figure moves. Virtual-asset operations need separate Bank of Mexico authorisation on top.
Application fee Not sourced. CNBV charges are set annually under the Federal Fees Law rather than as one published application fee, so there is no single figure to quote.
The CNBV has a maximum of 180 natural days to resolve an application, and must issue any prevención, its request to correct the file, within 90 natural days. Authorisation carries the favourable opinion of the Ministry of Finance and the Bank of Mexico. Anvesan has not established a statutory deadline, so we do not infer one.
The sector average to an electronic payment funds institution authorisation is about 787 days. Faster outcomes are claimed by advisers for well-prepared files; Anvesan has not verified them and does not quote them.
| Electronic payment funds institutionroughly MXN 35 million, indexed to inflation | 5,000,000 UDIS |
|---|
The UDI is an inflation-indexed unit, so the peso figure moves. Virtual-asset operations need separate Bank of Mexico authorisation on top.
Application fee Not sourced. CNBV charges are set annually under the Federal Fees Law rather than as one published application fee, so there is no single figure to quote.
The CNBV has a maximum of 180 natural days to resolve an application, and must issue any prevención, its request to correct the file, within 90 natural days. Authorisation carries the favourable opinion of the Ministry of Finance and the Bank of Mexico. Anvesan has not established a statutory deadline, so we do not infer one.
The sector average to an electronic payment funds institution authorisation is about 787 days. Faster outcomes are claimed by advisers for well-prepared files; Anvesan has not verified them and does not quote them.
| Electronic payment funds institutionroughly MXN 35 million, indexed to inflation | 5,000,000 UDIS |
|---|
The UDI is an inflation-indexed unit, so the peso figure moves. Virtual-asset operations need separate Bank of Mexico authorisation on top.
Application fee Not sourced. CNBV charges are set annually under the Federal Fees Law rather than as one published application fee, so there is no single figure to quote.
The CNBV has a maximum of 180 natural days to resolve an application, and must issue any prevención, its request to correct the file, within 90 natural days. Authorisation carries the favourable opinion of the Ministry of Finance and the Bank of Mexico. Anvesan has not established a statutory deadline, so we do not infer one.
The sector average to an electronic payment funds institution authorisation is about 787 days. Faster outcomes are claimed by advisers for well-prepared files; Anvesan has not verified them and does not quote them.
| Electronic payment funds institutionroughly MXN 35 million, indexed to inflation | 5,000,000 UDIS |
|---|
The UDI is an inflation-indexed unit, so the peso figure moves. Virtual-asset operations need separate Bank of Mexico authorisation on top.
Application fee Not sourced. CNBV charges are set annually under the Federal Fees Law rather than as one published application fee, so there is no single figure to quote.
Regulatory changes only: what is being decided, by whom, and when. Company-level licence changes are tracked in Atlas Pro. Reviewed 10 September 2026.
The CNBV has previewed a regulatory review covering both crypto-assets and open finance, describing the sector as entering a maturity phase. Industry is pushing for streamlined licensing, a wider catalogue of permitted activities and the pending open-finance rules. Substantial progress is anticipated from late 2026 into 2027.
What changes The current route to a licence averages about two years. A streamlined licensing tier is the single change that would move that figure.
CNBV, Fintech Mexico Festival 2026
Atlas tracks 50 authorisations across 50 companies in Mexico, read from official registers and checked on 21 September 2026. Of those, 50 are licensed, 0 are in the pipeline, and 0 have ended.
CNBV. The framework is Ley Fintech and the IFPE licence.
This page lists 9 authorisations, each with the regulator that grants it and what triggers the requirement. Which one applies depends on the activity.
It depends which authorisation. The licence table carries the statutory decision period where a law sets one, the timeline applicants report in practice, and the minimum capital for each. Where a regime is not yet in force, we show “Unavailable”.