Momo Narrowbank

M-BANCO (or Mobile Money Corp, “MOMO”) is a narrowbank – a regulated Digital Bank, offering services as Payments, Transfers, Remittances, Exchange Savings, and loans with an account at the Central Banks to hold all of its account holders’ monies. The Fiat deposits are converted into equivalent e-currency through its B4P (Banking for People) mobile platform. Account-holders may use their e-currency at any time for any transaction or cash in/out through M-BANCO’s network of independent Xchanges (agents), which act as “branches or ATMs.” MOMO’s business model aims to provide everyday financial services, i.e, Instantaneous payments, remittances, foreign exchange, savings, insurance to any person or business, including unbanked, underbanked, and emigrants with limited or no access to the traditional banking system. McKinsey has assessed the B4P platform for the US FED. MOMO’s Business Model has been accepted and supported by the Monetary and Finance Regulatory authorities in El Salvador (Financial Inclusion Law Decree 72), Colombia (Law 1735), and the US FED Board of Governors (Docket D.O. No 1735). MOMO H.Q. is located in New York (USA) and is operational in El Salvador; and will be operating in Colombia and the USA by the end of 4Q 2021.