Licenses
1. Brazil
1.1. VASPs (Virtual asset service providers)
As of today, Law No. 14,478/22 (Crypto Assets Law), enacted in December 2022, has not yet been fully implemented. Although the regulation has been in effect since 2023, certain aspects remain pending further definition by the Central Bank of Brazil, designated as the authority responsible for overseeing and regulating virtual asset service providers in the country, as per Decree No. 11,563/2023. One of the main unresolved issues is the requirements and processes for companies to obtain licenses to provide digital asset services. Recently, the Central Bank completed the first phase of a public market consultation and is engaging with key market players in Brazil to determine the best way to regulate and oversee this sector. According to the regulator, a second public consultation on the matter is expected in the second half of 2024, alongside plans to structure internal guidelines for stablecoin regulation. The Central Bank aims to finalize normative proposals by the end of 2024.
1.2. Payment institution
Transfero Instituição de Pagamento Ltda. operates as the payment institution of the Transfero group under CNPJ No. 47.133.056/0001-88. It is authorized by the Central Bank of Brazil to operate as a payment institution (https://www.bcb.gov.br/meubc/encontreinstituicao).
1.3. Asset management company
Transfero Gestora de Recursos Ltda., registered under CNPJ No. 42.155.153/0001-58, operates in Brazil as an asset management company regulated by the Brazilian Securities and Exchange Commission (CVM). It also adheres to self-regulation rules established by ANBIMA (https://sistemas.cvm.gov.br/?CadGeral).
2. Switzerland
2.1. Virtual asset service provider (VASP)
Transfero Swiss AG, a company incorporated in Zug, Switzerland, and registered under No. CHE-300.76.450, has been a member of the VQF SRO (Financial Services Quality Assurance Association) since 2021. It is classified as a virtual asset service provider (VASP), registered under No. 100930.
3. The Bahamas
3.1. Virtual asset service provider (VASP)
In The Bahamas, Transfero Digital Platform Ltd., incorporated under No. 209214B, recently received authorization in December 2023 from the Securities Commission of The Bahamas (SEC Bahamas) to operate as a virtual asset service provider and exchange under the Digital Assets and Registered Exchanges Act, 2020 (DARE Act).
3.2. Asset management company
Transfero Asset Management Ltd., another entity of the group, incorporated in The Bahamas and registered under No. 203877B, is authorized by the Securities Commission of The Bahamas to operate as an asset management company.
4. Argentina
4.1. Virtual asset service provider (VASP)
Transfero Pagamentos S.A., a company incorporated in Argentina and registered under CUIT No. 30-71704433-5, received authorization in 2024 from the National Securities Commission (CNV) to operate as a virtual asset service provider in the country.