How membership is reviewed and documented

The membership review process

Membership begins with an eligibility inquiry. We review the applicant's legal entity, permissions and proposed contribution. Suitable applicants may agree a memorandum of understanding to organize further review, followed by restricted diligence and the applicable definitive documents. Approved members then complete operational onboarding before any payment route is activated. Continuing membership is subject to ongoing monitoring and an annual review.

Submitting an inquiry or signing a memorandum of understanding does not reserve a seat, authorize payment activity or commit either party to invest. Any rights arise only under the applicable approved agreements. This is an invitation to inquire only.

The memorandum of understanding

After a suitable eligibility review, Soberana and the applicant may sign a memorandum of understanding to organize the next stage of diligence. It records what each side will review, who will participate and how confidential information will be handled. It does not commit either side to an investment, reserve a seat or authorize payment operations. Any final relationship remains subject to approval and the applicable definitive agreements.

What to expect:

• Understand the proposed review process and the information each side will provide.
• Agree the participants and practical milestones for diligence.
• Protect confidential information under the applicable signed terms.
• Identify the approvals needed before any final agreement.
• Retain the ability to stop discussions, subject to the provisions expressly stated to be binding.

Membership standards

Membership is built through operation. Applicants describe the payment activity, local capabilities and operating standards they can contribute. The proposed network relationship is designed around sustained performance and accountable service. Participation and any associated rights remain subject to approval and definitive agreements.

Liquidity is planned route by route. Each payment route needs an agreed settlement process, sufficient available funding and procedures for exceptions. Activation depends on the participating entities, permissions and operating arrangements. Joining does not provide unrestricted funding or access to every market.

Evidence can be reused where permitted. Members may share permitted compliance evidence under documented arrangements. Each institution makes its own acceptance decisions and remains responsible under its applicable law. Shared evidence does not confer a license to operate elsewhere.

Definitive membership agreements

After diligence and approval, the definitive membership documents set out the operating relationship, responsibilities, review process and arrangements for each approved payment route. Operational onboarding follows before services begin. Any investment arrangement is reviewed and documented separately. Membership, access and any rights are proposed, subject to counsel and definitive agreements.

Markets & Regulatory Landscape

A payment system, a regulated institution and a customer-facing service are different things. Describing a familiar rail does not establish an applicant's permission to access it. Holding a payments authorization does not automatically authorize virtual-asset activity. This guide distinguishes those categories across Colombia, Mexico, Brazil, the United States, Ecuador and Peru, with additional European Union context.

Membership Criteria Overview

The proposed membership assessment asks whether a specific institution can contribute to a responsible operating network. It examines the legal entity, the activities it intends to perform, the evidence supporting those activities and the people accountable for delivery. It contains no scoring weights, numerical thresholds, promised allocation or financial commitment.