Project XBY

Latin America · GDP rank #12

Mexico

MX · MXN @ 0.0575/USD

A two-speed payments economy: SPEI handled more than 7.3 billion interbank transactions in 2025 and is on track to overtake card volume by 2026, while CoDi has been allowed to wind down in favour of DiMo's phone-alias overlay. Remittance inflows from the United States stayed the world's largest by absolute value but fell 4.6% in 2025 — the steepest annual decline in 16 years. The fintech sector regulated under the 2018 Ley Fintech has become the region's most active deposit-competition battleground after Brazil.

Tab 08

Pulse

The preceding ~90 days of macro, regulation, product, funding and milestone events. Each item is primary-sourced; no trade-press echo.

  1. 5 days agodata

    Nu Holdings Q1 2026: Mexico reaches breakeven at 15M customers

    Nu's Q1 2026 results put Mexican customers at 15 million, up from roughly 10.3 million at end-2025, with local operations reaching breakeven a year ahead of the Brazil playbook's pace. Group-level revenue cleared US$5bn for the first time. Nu is now the third-largest financial institution in Mexico by customer count.

    • #nubank
    • #fintech
    • #deposits
    • #breakeven

    Source: Nu Holdings

  2. 3 weeks agodata

    Banxico: Q1 2026 remittances up 1.4% to US$14.46bn after 2025 contraction

    Q1 2026 inflows totalled US$14.46 billion across 35.71 million transfers, up 1.4% year-on-year — the first quarterly rise after the 4.6% full-year drop in 2025. March posted US$5.39 billion, up 4.9%. Average transfer rose 5.6% to US$405; electronic transfers carried 99% of value.

    • #remesas
    • #banxico
    • #macro

    Source: Banco de México

  3. 6 weeks agomilestone

    DiMo crosses 11M users; Banxico standalone site goes live

    Banxico's standalone DiMo site went live alongside confirmation that user count had crossed 11 million in Q1 2026 across more than 20 participating institutions. CoDi remains in maintenance mode with no further feature investment, leaving DiMo as the consumer Pix-equivalent overlay on SPEI.

    • #dimo
    • #codi
    • #banxico
    • #adoption

    Source: Mexico Business News

  4. 7 weeks agodata

    Banxico confirms 2025 remittances fell 4.6% to US$61.8bn — biggest annual drop in 16 years

    Full-year 2025 inflows totalled US$61.8 billion, the largest annual decline since 2009. Electronic transfers accounted for 99.1% of total; account deposit grew to 50.4% of cash-out vs cash pickup at 49.6%. Banxico flagged peso revaluation and US labour-market softening as the principal drivers.

    • #remesas
    • #banxico
    • #macro

    Source: Mexico News Daily

  5. 2 months agodata

    Banxico: SPEI processed 7.3B+ transactions worth ~MX$600T in 2025

    Banxico's annual payment infrastructure report confirmed SPEI cleared more than 7.3 billion transactions in 2025 for roughly MX$600 trillion in value — 37% volume growth year-on-year. The governor reiterated SPEI is expected to overtake card-payment transaction volume by 2026.

    • #spei
    • #banxico
    • #data

    Source: Banco de México

  6. 3 months agoregulation

    Banxico opens consultation on SPEI 2.0 architecture and ISO 20022 migration

    Banco de México released for industry consultation the SPEI 2.0 design package, which moves the rail to ISO 20022 messaging, adds richer remittance data fields, and introduces a payment-confirmation API for merchant overlays. Consultation closes mid-year; first production milestones target 2027.

    • #spei
    • #banxico
    • #iso20022
    • #modernisation

    Source: Mexico Business News