// Regulation

Vision without regulation
is speculation.

Every product in the Kabal ecosystem operates through the entity and legal framework that applies to it. Here is the complete map—with no fine print.

🇸🇻 EL SALVADOR · CNAD

Kabal Bridge S.A. de C.V.

PSAD Structurer — digital-asset services

Digital Asset Service Provider authorized by El Salvador's National Digital Assets Commission (CNAD) under the Digital Asset Issuance Law. It structures third-party issuances; the issuer is always the client entity.

License PSAD-0056 · Resolution CNAD-CD-274-2025 · June 18, 2025
🇵🇦 PANAMA

Kabal Trade Finance S.A.

International trade financing

Operates international trade financing backed by electronic Bills of Lading, with cross-border coverage from Panama. It is an operating subsidiary of Crossbridge Technologies, the group's technology and operations holding company.

Foreign-source income · Panamanian territorial regime
🇭🇳 HONDURAS

Kabal Capital S.A. de C.V.

Private non-bank lender

Originates SME lines (Flex, Crece, Cash) in Honduras as a private credit entity. It does not accept public deposits and is not an institution supervised by CNBS; it operates under the applicable commercial and consumer-protection framework.

Financing SMEs since 2021 · +L200M placed as of June 30, 2026
🇺🇸 UNITED STATES · FinCEN

BIVO Inc.

Money transmitter — operates Kabal Send

Kabal Send remittances are operated by BIVO Inc., a money transmitter registered with FinCEN. Every transfer runs through regulated U.S. rails with compliance monitoring per transaction.

NMLS 2572288 · Registered with FinCEN
What this means for you: when you use a Kabal product, you contract with the entity identified for that product under the laws of its jurisdiction. No credit product or digital-asset transaction constitutes a public securities offering; access to tokenized opportunities is private and subject to eligibility. This page is informational and is not legal or financial advice.