Prex
Regional prepaid (UY/AR/PE).
- Who holds it
- An e-money institution holds your balance in a safeguarding account — E-money (UY/AR/PE).
- The ledger
- The e-money institution’s own ledger.
- If it fails
- Safeguarded funds are returned in administration — ring-fenced, but access can be frozen and slow.
Derived from Prex’s regulation type and custody — a class of protection, not a guarantee. Limits and eligibility vary by scheme, balance and jurisdiction; confirm before you rely on it. What happens if a neobank shuts down →
The facts
| Category | traditional |
| HQ | Montevideo, UY |
| Founded | 2015 |
| Custody | Custodial |
| Regulation type | E-money institution |
| License detail | E-money (UY/AR/PE) |
| Card | MC · Prepaid |
| Stablecoins | No |
| KYC | Yes |
| Active regions | Latin America |
Verified links: official site ↗
Common questions about Prex
What is Prex?
Prex is a fiat neobank, headquartered in Montevideo, UY and founded in 2015. Your money is held custodially, so Prex or its partner bank holds the balance and you hold a claim on it. It is regulated as an e-money institution (E-money (UY/AR/PE)).
Does Prex have a card, and where can you use it?
It issues a Mastercard prepaid card. It is available in Latin America.
Does Prex require KYC?
Yes. Prex requires identity verification (KYC) to open an account, as a e-money institution.
Peers
Wise · Nubank · Banco Inter · PicPay · PagBank · Nequi
Prex appears in
Neobanks authorised as e-money institutions (48) · Neobanks available in Latin America (113) · Neobanks that issue a Mastercard (150)
Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.