Structure

Structure and country network

Know-how is held centrally. The Programme is operated in-country. The line between them is the point of the structure.

The structure exists to keep two things separate: the ownership of know-how, which is held centrally, and the operation of the Programme, which happens in-country. Every company above the local program provider is non-operating.

Contracts with banks are signed only at the local program provider. Income flows upward as royalty and licensing fees; capital flows downward as shareholder funding.

Each level

Digital Local Currency Limited: The parent, registered in England and Wales. Owns the Programme’s know-how, intellectual property and technology, sets group governance, and licenses downward. It has no external clients and no operations of its own.
Regional program managers: AmericaPay Limited, AfricaPay Limited, ArabPay Limited, AsiaPay DLC Limited and EuropePay DLC Limited. Direct subsidiaries of the parent, each responsible for governance of its region. Non-operating.
Country program managers: One per country, beneath the relevant regional company. TurkiyePay Limited sits under EuropePay DLC Limited, and the same pattern applies elsewhere. Non-operating.
Local program providers: A joint venture in each country, formed between the country program manager and a qualified local partner. This is the only entity in the structure that operates, the only one that contracts with member banks, and the only one that interacts with any external party.
Functional subsidiaries: Digital Local Currency Studio Limited operates the group’s publishing and media function. Digital Local Currency Tech Limited holds and develops the Programme’s technology.

How income moves

All external revenue originates at the local program provider, from its agreements with member banks. From there it moves upward as royalty and know-how licensing fees: local program provider to country program manager, to regional program manager, to the parent. Capital moves in the opposite direction as shareholder funding. These are the only money flows involving group companies, and they are entirely intercompany.

What no group company does

No company in the structure holds, receives, transfers, settles or controls customer or third-party funds. None operates client, safeguarding, pooled, escrow or nominee accounts. None issues wallets, electronic money, cards, tokens or any other monetary instrument. None operates payment rails or correspondent networks, and none is licensed, registered or authorised by any financial regulator, central bank or payment services authority anywhere, nor has any such application in progress.