Costa Rica“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 Costa Rica
We build the platform to tokenize bonds, shares and securitization notes in Costa Rica: investor onboarding, ERC-3643 tokens reconciled with the securities depository and scheduled distributions, coordinated with the law firm that structures the issuance under Law 7732 and SUGEVAL supervision.
Tokenize your asset
They trust Metlabs to tokenize their assets
Why Costa Rica
Why tokenize assets in Costa Rica?
Costa Rica has no DLT securities regime, but its securities law is broad: any tradable economic right that raises funds from the public is a security. In 2025 SUGEVAL decided to run a securities tokenization proof of concept. A tokenized issuance follows that law today, and registering virtual asset providers with SUGEF does not replace it.
$1M
private fundraising by an issuer or its group above which the offer must be accredited with SUGEVAL
SUGEVAL · Accredited private offers2025
year SUGEVAL decided to prepare a securities tokenization proof of concept
SUGEVAL · 2025 Strategic Plan2026
year registration of virtual asset providers with SUGEF took effect, which is not an operating license
SINALEVI · Law 10961What gets tokenized
Debt, equity and revenue: what gets tokenized in Costa Rica
Almost every tokenized issuance represents one of these three rights against the issuer. In Costa Rica the right determines the vehicle and the applicable law, and in a public offer the securities register is kept by a securities depository: the token mirrors it and is reconciled with it.
| Right | Debt | Equity | Revenue |
|---|---|---|---|
| What is issued | Bonds and other debt securities | Shares in a sociedad anónima | Securitization and 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 is paid from an asset's cash flows: rents, contract receivables or project income. |
| The token enforces |
|
|
|
| Issuer | Issuer authorized by SUGEVAL | Sociedad anónima | Trust or securitization company |
| Register | Authorized securities depository | Securities depository if offered | Authorized securities depository |
| Law | Law 7732 | Commercial Code and Law 7732 | Law 7732 and SUGEVAL Agreement 15-14 |
| How it is issued | In a public offer they are issued in series with SUGEVAL authorization, a prospectus and an external audit, and recorded in the National Securities and Intermediaries Register. In book-entry form, the register of private-sector securities is kept by authorized securities depositories. The law does not recognize a distributed ledger. | Quotas in an S.R.L. cannot be transferred by endorsement, cannot be publicly subscribed and require unanimity, or three quarters of the capital if the articles allow it, to be assigned to third parties. An S.A. can create share classes and require board approval to transfer registered shares. | The law treats any tradable economic right that raises funds from the public as a security, and SUGEVAL sets the criteria to decide it. In a public offer, cash flows are securitized through issuing trusts, run by trust companies subject to its regulation, or through registered securitization companies. |
Regulation
Regulation guide for Costa RicaWhich regulation applies to tokenization in Costa Rica?
A token representing a security follows Law 7732, the Securities Market Regulatory Law, and SUGEVAL supervises it: only parties it authorizes can make a public offer. Since September 19, 2026, Law 10961 has also required virtual asset service providers to register with SUGEF, a preventive registration that, according to the law itself, does not authorize them to operate.
Issuances recorded in the National Securities and Intermediaries Register are represented by electronic book entries or by certificates, and the register of private-sector securities is kept by authorized securities depositories, identifying the beneficial owner. The law does not recognize the distributed ledger: SUGEVAL is studying it through a proof of concept, which is not the same as authorizing a commercial platform.
Outside a public offer, SUGEVAL decides what counts as a private offer. If an issuer or its group raises more than one million dollars privately, it must accredit the offer with SUGEVAL, and that accreditation is not an authorization. We design the platform with the issuer's law firm, and authorized brokerage firms, custodians and securities depositories provide the regulated services.
Costa Rica
- Scope
- Costa Rica
- Authorities
- SUGEF, CONASSIF, SUGEVAL, UIF-ICD
- Latest regulatory change
- Sep 2026
Applicable frameworks
| Framework | Applies to | Key authorisations |
|---|---|---|
| Ley 10961 / artículo 15 quáter de Ley 7786 | Virtual asset business services | Preventive registration, not an operating licence |
| Ley 7732 / normativa SUGEVAL | Securities and participants by activity | Securities regime; no universal DLT permission |
Our legal partners
Methodology
How we tokenize an asset in Costa Rica, step by step
The four phases of our methodology, with the parties involved in Costa Rica. 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 a bond, a share or a securitization note. That sets the vehicle, a sociedad anónima or an issuing trust, the amount and whether the offer will be public or private.
The law firm classifies the token and prepares the issuance resolution, the prospectus and the external audit for SUGEVAL authorization, or the accreditation report if the offer is private. The issuance resolution sets the book-entry form of representation.
We configure the white label platform with your brand: investor onboarding with KYC, signature, payment and ERC-3643 tokens carrying the offer's rules. Reconciliation with the securities depository and the custodian, and coupon or distribution schedules, are custom development.
With the issuer and the brokerage firm placing the issuance, we prepare the offer page and measure the journey to a paid subscription. Afterwards, the platform handles distributions, mirrors transfers between verified investors and produces the reports.
Reviews in Costa Rica
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 Costa Rica?
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 cédula or DIMEX, KYB, AML (LC/FT) checks and a custodial wallet.
- End-to-end investmentE-signature and payment in dollars via SINPE or with stablecoin (USDT/USDC).
- ERC-3643 tokensEach subscription is issued under the rules of the SUGEVAL-accredited private offer.
- Issuer consoleProjects, investors, dollar reconciliation, coupons and reporting.
- Compliance and audit trailKYC, AML and signed consent 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 Costa Rica
What we are asked before a project starts.
Talk to our teamIs asset tokenization legal in Costa Rica?
It is possible within securities law. No rule prohibits tokenization and there is no specific regime: a token representing a security follows Law 7732, with SUGEVAL authorization if there is a public offer. Law 10961 requires virtual asset service providers to register with SUGEF, but that registration is not an operating license.
Can a limited liability company (S.R.L.) be tokenized in Costa Rica?
Its quotas cannot: the Commercial Code defines them as registered, bars transferring them by endorsement and requires unanimity of the members, or three quarters of the capital if the articles allow it, to assign them to third parties. It does not allow public subscription either. Tokenizing equity requires a sociedad anónima.
Does a private token offer need SUGEVAL authorization?
Not authorization, but there is oversight. SUGEVAL sets the criteria that separate private from public offers, and private offers by an issuer or its group above one million dollars must be accredited with it. Those securities cannot trade on the secondary market for registered securities.
Does VASP registration with SUGEF allow issuing investment tokens?
No. Law 10961 brings virtual asset service providers into the anti-money laundering regime and states expressly that registration does not authorize them to operate. If the token carries investment rights, the offer is analyzed with SUGEVAL, which retains its authority over securities.
Asset tokenization
Assets we tokenize in Costa Rica.
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 Costa Rica
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
SpainUnited StatesUAEUnited KingdomMexicoSingaporeAustraliaSwitzerlandColombiaArgentinaChilePeruPortugalGermanyHong KongBrazilEcuadorFranceIndiaPanamaAndorraAustriaBahrainBelgiumBoliviaCanadaCubaCyprusCzechiaDenmarkDominican RepublicEl SalvadorEstoniaFinlandGreeceGuatemalaHondurasHungaryIrelandIsraelItalyJapanKuwaitLiechtensteinLithuaniaLuxembourgMaltaMonacoMoroccoNetherlandsNew ZealandNicaraguaNigeriaNorwayOmanParaguayPolandPuerto RicoQatarRomaniaSan MarinoSaudi ArabiaSeychellesSouth AfricaSouth KoreaSwedenTurkeyUruguayVenezuela
