The Cuban regime has authorized the U.S. company Cubamax Travel Inc. to operate in Cuba as a money transmitter, even allowing it to deliver cash in dollars to beneficiaries within the country, as outlined in Resolution 135/2025 of the Central Bank of Cuba (BCC), published this Tuesday in the Official Gazette.
The provision, signed by Juana Lilia Delgado Portal, the president minister of the BCC, grants Cubamax the permission to "channel funds through Cuban financial institutions for deposit into accounts, debit or prepaid cards," as well as to "deliver cash in national currency or foreign exchange to the beneficiaries."
The official text clarifies that Cubamax, based in Hialeah, Florida, and holding a money transmitter license issued by the Office of Financial Regulation of the United States, will be allowed to operate without being established as a legal entity in Cuba, provided it meets the oversight, transparency, and cybersecurity requirements mandated by the Central Bank.
An economic and political permit
The decision marks a significant shift in the regime's financial policy, which has maintained restrictions on the entry of cash foreign currency into the country for years, particularly U.S. dollars, under the argument that Washington's sanctions hindered their international use. Now, it represents yet another step towards the polarization of the Cuban economy.
The authorization for Cubamax seems to open a new avenue for capturing remittances from the United States, the country from which most of the money sent to Cuban families originates. This move suggests another attempt by the government of Miguel Díaz-Canel to appropriate and collect foreign currency and channel monetary flows under state control.
According to the resolution, Cubamax must designate a representative residing in Cuba, maintain cybersecurity and data protection systems, and submit to the jurisdiction of Cuban courts, in addition to informing users about fees, commissions, and risks. In other words, under state control at all times.
Despite the potential impact of this decision, the resolution published by the BCC omits key information that will determine its real implications for Cuban families. It does not specify the service fees or commissions, whether there will be transaction limits and what those limits will be, the delivery times, or the geographical availability of the operations. It is also unclear whether the beneficiaries will be able to actually receive the dollar bills or if the deliveries will be made in Cuban pesos at the official exchange rate.
By leaving these aspects open to future administrative decisions, the Central Bank retains a wide margin of discretion regarding the operation of the system. In practice, this means that users will be completely dependent on the conditions imposed by the regime itself, with no clear regulatory framework or guarantees of transparency in the process.
Resolution 135/2025 will come into effect five business days after its publication in the Official Gazette, that is, during the first week of January 2026.
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