Prex Prex
A plan byPrex
Prex is a multi-country fiat digital wallet for LATAM, with over 2.2 million users and SBS regulation in Peru. The service remains fiat-focused and offers no native crypto features, though it is still expanding.
Prex
- Price
- Free
- Issuance fee
- Free
- FX markup
- 0%
- Cashback
- 0%
- Cashback currency
- Nessuno
- Required staking
- Nessuno
- Net annual cost
- Free
What's included
- Prepaid AR
- P2P
- Mobile recharge
Data & conditions
| Account fee | Free |
|---|---|
| IBAN | condiviso |
| Multi-currency | No (single currency) |
| Outbound transfers to third-party IBANs | No |
| Utility direct billing | No |
| SEPA direct debit (SDD) | No |
| On-chain crypto withdrawal | No |
| Interest on balance | 0% |
| ATM withdrawal | not declared |
| Fund custody | Custodial (platform holds funds) |
| KYC | Full |
| Supported countries | LATAM · 4+ countries |
| Regulator | None |
| OAM Italy registration | No |
| Segment | B2C |
| MiCA / License status | None SBS Peru |
Strengths
- 2,2M+ users; digital wallet fiat multi-country LATAM; SBS Peru regulated.
- No notable sovereignty advantage documented.
Weaknesses
- No crypto native; fiat-focused.
- Custodial: the platform holds your funds and can freeze or lose them.
- Full KYC required: verified identity, zero pseudonymity.
- Subject to regulation (SBS Peru): reporting to authorities and freezes on order.
Verdict
Prex convinces as a multi-country fiat wallet with over 2.2 million users and SBS regulation in Peru that provides a concrete regulatory anchor, hence the solid B band. The limit for crypto seekers is that the service stays entirely fiat-focused, with no native features: useful for money management and remittances, less so for anyone wanting digital-asset exposure.
On the crypto-native lens Prex has little to offer: no native crypto, custodial custody and full KYC make it effectively a traditional digital account. There is no self-custody, on-chain layer or advanced privacy to weigh, so the verdict diverges sharply from the more favourable protection rating.
Promp's editorial rating based on real fees and net annual cost. Promp reviews third-party products independently.
"Sovereignty" rating: score computed on privacy/anonymity (30%), fund control (20%), censorship resistance (20%), trustless/auditability (20%) and costs (10%). Same data, different weights.
FAQ
Is Prex a real bank?
Prex is a digital financial service. The deposit-protection scheme is not documented for this service; check the official terms.
Can I send transfers to third-party IBANs with Prex?
The ability to send transfers to third-party IBANs is not documented; check the official website.
Does Prex support direct debits and utility billing?
SEPA direct debit (SDD): not documented. Utility-bill domiciliation: not documented.
Which fiat currencies does Prex support?
The number of supported fiat currencies is not documented. Multi-currency accounts: not documented.
Can I withdraw crypto on-chain from Prex?
On-chain crypto withdrawal is not documented; check the official website.
Sources
- Official service page Plans & pricing · Regulatory framework Data verified on Jun 13, 2026
- prexcard.com.ar Multi-currency · FX markup · Cashback Data verified on Jun 15, 2026
- fintechfuturo.com Founded · On-chain crypto withdrawals Data verified on Jun 14, 2026
- latamfintech.co Variante regionale.regulator locale Data verified on Jun 14, 2026
Show 5 more sources
- pitchbook.com Company type · Latest funding round Data verified on Jun 14, 2026
- revistabusiness.com.pe Investors Data verified on Jun 14, 2026
- prex-uruguay.updatestar.com Monthly fee Data verified on Jun 13, 2026
- startupsuruguay.com Founders Data verified on Jun 13, 2026
- trustpilot.com Trustpilot reviews Data verified on Jun 13, 2026