Liechtenstein“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 Liechtenstein
We build the platform to tokenize bonds, shares and revenue rights in Liechtenstein: investor onboarding, ERC-3643 tokens and an on-chain ledger of uncertificated securities, coordinated with the law firm that structures the issuance under the TVTG, the PGR or MiCA.
Tokenize your asset
They trust Metlabs to tokenize their assets
Why Liechtenstein
Why tokenize assets in Liechtenstein?
Liechtenstein has had a civil law on tokens, the TVTG, since 2020: a token can represent a claim, a membership right or a right in a thing, and disposing of the token disposes of that right. The PGR also lets an issuer keep its ledger of uncertificated securities on-chain. The country is in the EEA, not the EU, and has applied MiCA since February 2025.
2020
year the TVTG, the law on tokens and trustworthy technology service providers, entered into force
FMA · Jan 1, 2020CHF 5M
total price up to which a public token offering outside MiCA needs no basic information document
TVTG, Art. 31 · 20262025
year Liechtenstein began applying MiCA, through the national law that brought it forward within the EEA
FMA · Feb 1, 2025What gets tokenized
Debt, equity and revenue: what gets tokenized in Liechtenstein
Almost every tokenized issuance represents one of these three rights against the issuer. The right determines the vehicle, the applicable law and who keeps the register, and it is settled before the network or the token standard.
| Right | Debt | Equity | Revenue |
|---|---|---|---|
| What is issued | Bonds and notes | Shares in an AG | 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 | AG or GmbH | AG only | AG or GmbH |
| Register | Uncertificated securities ledger | Uncertificated securities ledger | Ledger if it is a security |
| Law | PGR (§ 81a SchlT) and TVTG | PGR and TVTG | TVTG, securities law or MiCA |
| How it is issued | They are issued as uncertificated securities (Wertrechte) when the terms of issue provide for it. The issuer keeps the ledger where they arise and change hands; if it keeps it on trustworthy technology, transfers follow the TVTG. The ledger must prevent the issuer from altering creditors' rights on its own. | An AG's articles can provide for shares as uncertificated securities on an on-chain ledger. Holdings in a GmbH do not work as a freely transferable token: their assignment requires a notarized deed, entry in the shareholder register and, unless the articles say otherwise, the consent of three quarters of the members. | Classification is decided case by case: a financial instrument follows securities rules; a crypto-asset, MiCA; if it is neither, the TVTG requires a basic information document to offer it publicly. Contractually, it takes the form of a profit-sharing arrangement (Art. 688 PGR) or a silent partnership. |
Regulation
Regulation guide for LiechtensteinWhich regulation applies to tokenization in Liechtenstein?
It depends on the right the token represents and on the activity. The TVTG provides the civil basis: what a token is, how it is disposed of and what effect that has on the right it represents. If the token is a financial instrument, EEA securities rules apply, with the FMA as the authority; if it is a crypto-asset, MiCA, which the country has applied since February 1, 2025.
Where the law does not make the right pass with the token, the obligor must secure it with measures that rule out a competing disposal of the right (Art. 7 TVTG). For bonds and shares, the PGR makes that link through the issuer's ledger of uncertificated securities. Anyone who brings tokens into circulation for clients and ensures their legal effect is a tokenization service provider and must register with the FMA, which supervises on an incident basis rather than continuously.
A public offer of securities needs a prospectus approved by the FMA or an exemption under the EU Prospectus Regulation. For tokens outside MiCA, the TVTG requires a published basic information document and notice of the issuance to the FMA, unless the offer targets fewer than 150 people or does not exceed 5 million francs. Since July 2, 2026, former TVTG registrations no longer cover MiCA services. We coordinate the structure with specialist law firms, and authorized entities provide the regulated services.
Liechtenstein
FavourableScore95
- Authorities
- FMA, according to the applicable financial or registration regime
- Latest regulatory change
- Sep 2026
Key authorisations
- TVTG registration for activities within its scope
- MiCA CASP authorisation or Article 60 notification where applicable
- Additional financial permissions according to instruments and services
Our legal partners
Methodology
How we tokenize an asset in Liechtenstein, step by step
The four phases of our methodology, with the parties involved in Liechtenstein. 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 the vehicle, an AG or a GmbH, the amount and the rules of the issuance.
The law firm classifies the token as a security, a MiCA crypto-asset or another TVTG token, drafts the terms of issue or the articles clause for uncertificated securities, and chooses the route: FMA-approved prospectus, exemption or an offer with a basic information document.
We configure the white label platform with your brand: investor onboarding with KYC, signature, payment and ERC-3643 tokens carrying the offer's rules. The permissions of the contract that keeps the securities ledger are designed to rule out issuer interventions the terms do not provide for, as the PGR requires.
With the issuer and, where there is one, the placing entity, 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.
Reviews in Liechtenstein
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 Liechtenstein?
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 or Identitätskarte, KYB, SPG checks and a custodial wallet.
- End-to-end investmentE-signature and payment in francs by bank transfer or with stablecoin (USDC/EURC).
- ERC-3643 tokensEvery token is recorded in the uncertificated securities ledger under the offer rules.
- Issuer consoleProjects, investors, Swiss franc reconciliation, interest payments and reporting.
- Compliance and audit trailKYC and SPG 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 Liechtenstein
What we are asked before a project starts.
Talk to our teamIs asset tokenization legal in Liechtenstein?
Yes. Since 2020 the TVTG has recognized that a token can represent claims, membership rights or rights in things, and the PGR lets an issuer keep its ledger of uncertificated securities on-chain. What requires FMA registration or authorization is the activity: bringing tokens into circulation for clients, holding them in custody or providing MiCA services.
Can holdings in a Liechtenstein GmbH be tokenized?
Not as a freely circulating token. Their assignment requires a notarized deed, notice to the members and entry in the shareholder register and, unless the articles say otherwise, the consent of three quarters of the members. Equity is tokenized through an AG with uncertificated shares; a GmbH can still issue tokenized debt.
How much can be raised without a prospectus in Liechtenstein?
It depends on what the token is. For a security, the threshold is set by the EU Prospectus Regulation, which Liechtenstein applies as an EEA member, and the law firm confirms it for each offer. If it is neither a security nor a MiCA crypto-asset, the TVTG waives the basic information document for offers to fewer than 150 people or of up to 5 million francs.
Does the token give ownership of the property?
Only if the right represented is ownership and its formalities are met. Under the TVTG, disposing of the token disposes of the right it represents, but a property still follows the registration rules of the place where it sits. In a typical issuance, the token is a bond, a share in the owning company or a right to its rents.
Asset tokenization
Assets we tokenize in Liechtenstein.
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 Liechtenstein
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 KongBrazilEcuadorFranceIndiaPanamaAndorraAustriaBahrainBelgiumBoliviaCanadaCosta RicaCubaCyprusCzechiaDenmarkDominican RepublicEl SalvadorEstoniaFinlandGreeceGuatemalaHondurasHungaryIrelandIsraelItalyJapanKuwaitLithuaniaLuxembourgMaltaMonacoMoroccoNetherlandsNew ZealandNicaraguaNigeriaNorwayOmanParaguayPolandPuerto RicoQatarRomaniaSan MarinoSaudi ArabiaSeychellesSouth AfricaSouth KoreaSwedenTurkeyUruguayVenezuela
