El Salvador-based financial infrastructure company Monetae announced on October 9, 2026, that the Superintendencia del Sistema Financiero (SSF) has authorized the integration of a licensed electronic money provider into its group. The approval, granted on September 29, 2026, approves the name change of Transferencias de El Salvador, S.A. to Sociedad Proveedora de Dinero Electrónico Monetae Pagos Integrados, S.A. The move allows Monetae to add electronic money, payments, and transfers to its existing regulated digital asset and Bitcoin services.
Regulatory Approval and Integration Timeline
Monetae announced the acquisition agreement for the full share capital of Transferencias de El Salvador in March 2026. At that time, the electronic money provider was part of the AirPak group, a regional financial services operator recognized for its remittance network. Six months after the original agreement, the SSF authorization converts the purchase into an operational integration, subject to the corresponding administrative procedures and approvals.
Strategic Rationale
The operation is part of Monetae's vision to build regulated financial infrastructure for the next generation of financial services in El Salvador. The company says paying in a store, sending money, receiving remittances, or buying digital assets often forces users to move between separate apps and systems. By integrating an electronic money provider, Monetae aims to reduce that journey to a single experience within the regulatory framework.
A Unique Regulatory Combination
With this approval, Monetae consolidates a regulatory stack that no other independent fintech in El Salvador currently holds. Its group companies now operate under the supervision of the National Commission of Digital Assets (CNAD), the Central Reserve Bank (BCR), and the SSF. The combined licenses cover digital asset service providers, Bitcoin service providers, and electronic money providers, allowing digital money, payments, and digital assets to coexist under one architecture.
Expanding Products and Financial Inclusion
A Sociedad Proveedora de Dinero Electrónico (SPDE) is an SSF authorized and supervised entity that provides electronic money, which is 100% backed at the Central Reserve Bank and convertible to cash. With the acquisition of Transferencias de El Salvador, Monetae can gradually develop payment and transfer solutions for individuals, merchants, and businesses. The company also sees the infrastructure as a step toward financial inclusion for Salvadorans who currently operate outside the formal financial system.
Leadership Perspectives
Eduardo Saca Bahaia, CEO of Monetae, described the approval as a historic milestone and the transition from intention to infrastructure. He emphasized that the company is building with institutions, not outside them, to create regulated financial infrastructure for the new era of finance. Raúl Madriz, Director of Product, added that managing money should be as simple as using it, and that Monetae exists to provide clear, secure, and regulated financial services.
Operational Continuity and Next Steps
The SSF approval does not affect the current operations or services of Monetae or Transferencias de El Salvador. Both entities continue to function normally and without changes for their users while the integration process advances. Monetae will communicate new service channels, access to information, and product or brand updates as the process moves forward and the corresponding authorizations are obtained.
By incorporating an authorized electronic money provider under its own brand, Monetae strengthens its position as the most regulated independent fintech in El Salvador. The transaction addresses fragmentation in digital financial services by combining electronic money, payments, and digital assets within a unified regulatory framework. It also supports broader financial inclusion, with future product expansion expected to take place gradually under the supervision of the country's financial authorities.