Andorra“One of the pioneering firms in web3 solutions, digital assets and tokenization, recognized for its innovation and solid reputation across Spain and Latin America.”
Jorge CorredorLawyer, Rincón Cuéllar & Asociados
Asset tokenization in Andorra
We build the platform to tokenize debt, shares and revenue rights in Andorra: investor onboarding, ERC-3643 tokens and a connection to the shareholder register, coordinated with the law firm that structures the issuance under Law 24/2022 or financial regulation.
Tokenize your asset
They trust Metlabs to tokenize their assets
Why Andorra
Why tokenize assets in Andorra?
Andorra has had its own digital asset law since 2022, and the AFA has already authorized five entities to hold digital assets in custody and handle orders. That law leaves financial instruments out: bonds and shares follow financial and company law. Where it fully applies is to tokens that are not securities, such as a revenue right that does not amount to a financial instrument.
5
entities authorized by the AFA as participants in the digital representation of assets
AFA · Oct 12, 2026€2M
amount per issuance up to which a digital asset needs no AFA authorization, though it must be registered
Law 24/2022, art. 4€8M
maximum per issuance over 12 months in a public offer open to retail investors, capped at 150 of them
Law 24/2022, art. 4What gets tokenized
Debt, equity and revenue: what gets tokenized in Andorra
Almost every tokenized issuance represents one of these three rights against the issuer. In Andorra, the right also decides whether the issuance falls under Law 24/2022 on digital assets or under financial regulation, and which register governs the token.
| Right | Debt | Equity | Revenue |
|---|---|---|---|
| What is issued | Bonds and notes | Shares and holdings | Revenue rights |
| The investor receives | The investor lends to the issuer and receives interest and, at maturity, the principal. | The investor joins the share capital: dividends, voting rights and a share of any sale or liquidation. | The investor receives a share of the income from an asset: rents, energy sold, sales or royalties. |
| The token enforces |
|
|
|
| Issuer | Andorran company | S.A. or S.L. | Registered Andorran company |
| Register | No DLT regime of its own | Shareholder register | DLT (Law 24/2022, art. 5) |
| Law | Law 7/2024 (financial instrument) | Law 20/2007 on companies | Law 24/2022 or Law 7/2024 |
| How it is issued | A bond is a transferable security and therefore a financial instrument under Law 7/2024, and Law 24/2022 excludes issuances that are. The token follows general financial regulation: company law does not regulate bonds and there is no register of securities on DLT. | Every transfer of shares or holdings must be made by public deed before an Andorran notary, who sends it to the Companies Register, and the directors enter the buyer in the shareholder register. The token can reflect the holding, but it does not replace that deed. | Classification is decided case by case, because Law 7/2024 reads financial instrument in its broadest sense. If the right is not one, it is a digital asset under Law 24/2022: a public issuance needs AFA registration and authorization, except up to €2M, which is only registered. |
Regulation
Regulation guide for AndorraWhich regulation applies to tokenization in Andorra?
It depends on the right the token represents. Law 24/2022 regulates the digital representation of assets and those who provide it, under the supervision of the Andorran Financial Authority (AFA), but it excludes issuances that are financial instruments under Law 7/2024. Andorra is not an EU member state: MiCA does not apply and an Andorran authorization is not a European passport.
A public issuance of digital assets needs prior AFA registration and authorization. Up to €2 million no authorization is required, but the issuer registers it with the same documentation as a public offer and the AFA monitors it in the same way. If the offer is open to retail investors, it allows up to 150 of them and €8 million per issuance over 12 months.
When the asset requires a deed, a book entry or an official register, the law requires the digital register to interoperate with it: the token proves the holding, it does not replace the title. Custody and order reception are provided by entities entered in the AFA register, and filings reach the authority through a digital overseer. We coordinate the structure with the law firm that signs it.
Andorra
FavourableScore75
- Authorities
- Andorran Financial Authority (AFA)
- Latest regulatory change
- May 2024
Key authorisations
- AFA authorisation and registration for covered activities
- Issuance procedure according to asset, offering and statutory exceptions
- Digital overseer and required guarantees before commencing activities
Our legal partners
Methodology
How we tokenize an asset in Andorra, step by step
The four phases of our methodology, with the parties involved in Andorra. The law firm and our engineering team work in parallel from the asset review to investor acquisition.
We review the asset's title, encumbrances and cash flows, and decide with the issuer whether the token will be debt, shares or a revenue right. That sets whether the issuance follows financial regulation or Law 24/2022, and the vehicle: an Andorran S.A. or S.L.
The law firm classifies the token, prepares the issuance prospectus and checks whether it fits the authorization exemption or needs AFA authorization. If the right requires a notarial deed or an official register, it designs how that formality is integrated with the digital register.
We configure the white label platform with your brand: investor onboarding with KYC, signature, payment and ERC-3643 tokens carrying the offer's rules, such as the cap on retail investors. The shareholder register connection and payment schedules are custom development.
With the issuer and the AFA-registered entity that provides custody or receives orders, we prepare the offer page and measure the journey to a paid subscription. After the issuance, the platform handles distributions, transfers between verified investors and reporting.
Milestones
Tokenization milestones in Andorra
The dates that set Andorra's digital asset framework, taken from our regulation guide. Each milestone links to its source.
See the full timelineDigital asset representation statute
Law 24/2022 establishes participant and issuance rules.
Law 24/2022, consolidatedParticipant authorisation guide
AFA sets out authorisation, registration and commencement.
AFA · Participants guideFinancial references amended
Law 7/2024 amends financial-instrument references in Law 24/2022.
Law 24/2022, consolidated
Reviews in Andorra
What do our clients think of Metlabs?
“We structured the tokenization of real estate projects with them, and I value the team's ability to understand our corporate needs and genuinely solve them.”
Joan MejíaManager, GLOBYNE
“They advised us on the feasibility of tokenizing real estate assets in Uruguay with direct, cordial treatment. A professional team, responsive and always available.”
Álvaro Silva SantamaríaCEO, Sp Inmuebles
“Great professionals at structuring tokenized projects, with technical command and attention to detail that inspire full confidence at every stage of the work.”
Francisco BetancourtVerified Google review
“As a blockchain lawyer, I value their experience and professionalism in consulting and executing tokenization projects. Technology partners you can fully trust.”
Vanessa RivasBlockchain lawyer, El Salvador
“Great professionals, very attentive to their clients and always mindful of every detail. Working with their team has been a genuine pleasure from start to finish.”
CriptorentVerified Google review
“A very professional yet approachable company that empathizes with your doubts and needs. Highly recommended for entrepreneurs with a tokenization project.”
Javier EspasaTokenization entrepreneur
“Exceptional in every sense. From legal support I value their rigor and transparency: working with Metlabs means professionalism, innovation and security.”
Pedro A. Agúndez MéndezGoogle Local Guide
“Excellent service across blockchain development, asset tokenization and consulting. A very professional team that I recommend wholeheartedly, without reservation.”
José Luis DíazVerified Google review
“I have worked with them on several projects and they are very professional. A guarantee that everything turns out perfectly. Without a doubt, 100% recommended.”
Ignacio Fernández JiménezVerified Google review
“One of the pioneering firms in web3 solutions, digital assets and tokenization, recognized for its innovation and solid reputation across Spain and Latin America.”
Jorge CorredorLawyer, Rincón Cuéllar & Asociados
“Great professionals at structuring tokenized projects, with technical command and attention to detail that inspire full confidence at every stage of the work.”
Francisco BetancourtVerified Google review
“A very professional yet approachable company that empathizes with your doubts and needs. Highly recommended for entrepreneurs with a tokenization project.”
Javier EspasaTokenization entrepreneur
“I have worked with them on several projects and they are very professional. A guarantee that everything turns out perfectly. Without a doubt, 100% recommended.”
Ignacio Fernández JiménezVerified Google review
“We structured the tokenization of real estate projects with them, and I value the team's ability to understand our corporate needs and genuinely solve them.”
Joan MejíaManager, GLOBYNE
“As a blockchain lawyer, I value their experience and professionalism in consulting and executing tokenization projects. Technology partners you can fully trust.”
Vanessa RivasBlockchain lawyer, El Salvador
“Exceptional in every sense. From legal support I value their rigor and transparency: working with Metlabs means professionalism, innovation and security.”
Pedro A. Agúndez MéndezGoogle Local Guide
“They advised us on the feasibility of tokenizing real estate assets in Uruguay with direct, cordial treatment. A professional team, responsive and always available.”
Álvaro Silva SantamaríaCEO, Sp Inmuebles
“Great professionals, very attentive to their clients and always mindful of every detail. Working with their team has been a genuine pleasure from start to finish.”
CriptorentVerified Google review
“Excellent service across blockchain development, asset tokenization and consulting. A very professional team that I recommend wholeheartedly, without reservation.”
José Luis DíazVerified Google review
Platform
What does our white label tokenization platform include in Andorra?
The investor portal, ERC-3643 tokens and issuer console, under your brand. Out of the box it handles onboarding, signing, payment and distributions; anything else your issuance needs, such as a local payment method or a connection to your bank or custodian, we build on the same platform.
Request a demo
- Your brand and domainYour visual identity and legal notices across the investor portal.
- Investor onboardingSign-up, KYC with passport, KYB, AML/CFT (BC/FT) checks and a custodial wallet.
- End-to-end investmentE-signature and payment in euros by SEPA transfer or with stablecoin (USDT/USDC).
- ERC-3643 tokensEvery subscription is issued under the rules of an offer to professional clients.
- Issuer consoleProjects, investors, euro reconciliation, distributions and reporting.
- Compliance and audit trailKYC and BC/FT file per investor, and an exportable audit log.
Institutional custody, integrated
We integrate custody and key management providers through their APIs, including Fireblocks, BitGo, Coinbase Prime, Anchorage Digital, Copper and Ledger Enterprise. Depending on the provider and model, keys are managed with MPC or multisig so that none depends on a single device. If the token is a security, custody on behalf of clients is provided by an authorized entity.
FAQ
Frequently asked questions about tokenization in Andorra
What we are asked before a project starts.
Talk to our teamIs asset tokenization legal in Andorra?
Yes. Law 24/2022 regulates the digital representation of assets and requires a license from anyone providing it as a professional activity. Tokens that are financial instruments, such as a bond, fall outside that law and follow Andorran financial regulation. What needs AFA authorization is the activity and, above €2 million, the public issuance.
Can an Andorran company be tokenized?
Its shares or holdings can be reflected in a token, but company law requires every transfer to be made by public deed before an Andorran notary and the buyer to be entered in the shareholder register. The token evidences the holding within the system; the deed is still what transfers title.
How much can be raised without AFA authorization?
Up to €2 million per issuance, if the token is a digital asset under Law 24/2022: the issuer needs no authorization, but registers the issuance with its documentation and the AFA supervises it. A public offer open to retail investors is limited to 150 of them and €8 million per issuance over 12 months.
Does an Andorran authorization allow the token to be offered in the EU?
No. Andorra does not apply MiCA and an AFA authorization is not a European passport. Offering the issuance to residents of another country also requires complying with that country's rules, and Andorran law itself makes offers to professionals conditional on their being authorized under the law of their residence as well.
Asset tokenization
Assets we tokenize in Andorra.
Asset tokenization
Articles on tokenization
Real Asset Tokenization: How RWA Tokenization Works
How to structure an RWA project: holder rights, issuance, recordkeeping, payments and recovery. What blockchain adds and what depends on the legal arrangement.
What are the differences between security tokens and utility tokens?
How to distinguish financial rights from service access, what legal classification examines and why a token’s name does not determine its regulation.
OpenZeppelin and ERC-3643: how a security token is built
What OpenZeppelin libraries and ERC-3643 controls provide, and what a securities issuance also requires: rights, permissions, operations and review.
Tokenize your asset in Andorra
Tell us which right you want to issue and we will propose the technical structure, timeline and phased budget.
Where we are
We're your tokenization company in:
Metlabs Offices
Av. García Sabell, 1, Edificio Proa 15009 A Coruña, Spain
We tokenize assets in
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