Monaco“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 Monaco
In Monaco, Law 1.491 bars public offers of financial tokens: debt, shares or rights that work like a financial instrument. We review with the law firm whether a project fits a private offer with a label, and prepare the structure and technology for when the framework allows it.
Tell us about your project
They trust Metlabs to tokenize their assets
Current framework
Can assets be tokenized in Monaco?
Today, a token representing debt, shares or revenue that amounts to a financial instrument cannot be offered to the public in Monaco: Law 1.491 prohibits it. A narrow route remains, a private offer with a label from the Minister of State, along with a bill, No. 1131, that the National Council has not yet begun to examine in committee.
1.491
token offerings law: if the offer is made to the public, it cannot include financial tokens
Legimonaco · Law 1.491, art. 11131
bill on crypto-asset services received on August 6, 2026, still without a committee assigned
National Council · Oct 12, 2026What gets tokenized
Debt, equity and revenue: what gets tokenized in Monaco
Almost every tokenized issuance represents one of these three rights against the issuer. In Monaco, all three are usually financial tokens, and that decides whether an offer route exists: a private one does, a public one does not.
| Right | Debt | Equity | Revenue |
|---|---|---|---|
| What is issued | Bonds as financial tokens | Shares as financial tokens | 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 | Joint-stock company only | Monegasque joint-stock company | Company registered in Monaco |
| Register | Electronic token register | Electronic token register | Electronic token register |
| Law | Law 1.491, arts. 1 and 3 | Law 1.491, arts. 1, 3 and 4 | Laws 1.383 and 1.491 |
| How it is issued | A tokenized bond is a financial token: it has the characteristics of a financial instrument under the Commercial Code. Law 1.491 does not allow it to be offered to the public; only a private offer is possible, with a label from the Minister of State, through an authorized provider's platform. | Like debt, a tokenized share is a financial token and cannot be offered to the public. Only a joint-stock company registered in Monaco can make the private offer, and the funds raised are held in escrow in a dedicated account at a bank in the Principality for the duration of the operation. | If the right has the characteristics of a financial instrument, it is a financial token and the same ban on public offers applies. Only a utility token, which grants a right to use goods or services, can be offered to the public with a label, and such a token is no longer a revenue right. |
Regulation
Regulation guide for MonacoWhich regulation applies to tokenization in Monaco?
Law 1.491 on token offerings is explicit: when the offer is made to the public, it cannot include financial tokens, meaning tokens with the characteristics of a financial instrument. Debt, shares and most revenue rights are financial tokens. Monaco is not an EU member state and MiCA does not apply.
The route that remains is a private offer, under conditions set by sovereign ordinance. It needs a prior label from the Minister of State, after a reasoned opinion from a commission; only a joint-stock company registered in Monaco can make it, and it runs through the platform of a provider authorized under Law 1.528. The funds are held in escrow in a dedicated account in the Principality.
Bill 1131, dated July 28, 2026, was received by the National Council on August 6 and, as of October 12, has no committee or rapporteur assigned. It would replace Law 1.528, limit services to three and prohibit the issuance of crypto-assets; those that are financial instruments fall outside its scope. Monaco also remains under increased monitoring by the FATF.
While the framework takes shape, we can prepare a project's structure and technology with the law firm and check, at each stage, which route exists. Authorized entities provide the regulated services.
Monaco
- Authorities
- CCAF, AMSF, Ministry of State of Monaco
- Latest regulatory change
- Jul 2025
Key authorisations
- Ministerial approval according to services under articles 12 to 14
- CCAF approval for specified financial-token services
- Prior label for offerings within Law 1.491
Our legal partners
Methodology
How we tokenize an asset in Monaco, step by step
The four phases of our methodology, with the parties involved in Monaco. In such a narrow framework, the first question is whether a route exists, and the law firm answers it before anything is built.
We review the asset's title and cash flows, and decide with the issuer which right the token would represent. If it is debt, shares or revenue of a financial nature, it is a financial token and a public offer is not possible; that sets whether the project fits a private offer.
The law firm classifies the token, prepares the information document the label requires and the application to the Minister of State, and checks that the issuer is a joint-stock company registered in Monaco and that the platform is run by an authorized provider.
We configure the white label platform: investor onboarding with KYC, signature and ERC-3643 tokens that restrict transfers to investors admitted to the private offer. Integration with the authorized provider's platform and the dedicated account is custom development.
With the issuer and the authorized provider, we prepare the information document for subscribers and the onboarding journey through to subscription. After the issuance, the platform handles distributions, transfers between admitted investors and the annual information the law requires from the issuer.
Milestones
Tokenization milestones in Monaco
The dates of Monaco's current framework for tokens and digital assets, taken from our regulation guide. Each milestone links to its source.
See the full timelineToken offering statute
Law 1.491, subsequently amended, establishes offering approval through a label.
Law 1.491Digital asset services statute
Law 1.528 distinguishes approval according to activity and token.
Law 1.528Amended definitions published
Law 1.578 of 1 July amends digital provisions in Law 1.383.
Law 1.578
Reviews in Monaco
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?
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 texts across the investor portal.
- Investor onboardingSign-up, KYC, KYB and AML checks, and a custodial wallet per investor.
- End-to-end investmentE-signature and payment by SEPA transfer or stablecoin (USDC/EURC).
- ERC-3643 tokensEvery subscription is issued under the offering's rules.
- Issuer consoleProjects, investors, reconciliation, distributions and reporting.
- Compliance and audit trailKYC status per user 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 Monaco
What we are asked before a project starts.
Talk to our teamIs asset tokenization legal in Monaco?
Only in part. Law 1.491 allows token offers with a prior label, but if the offer is made to the public it cannot include financial tokens, and debt, shares or revenue rights of a financial nature are financial tokens. Those tokens can only be placed in a private offer, made by a joint-stock company through an authorized provider.
What is the label for a token offer in Monaco?
It is the prior administrative authorization Law 1.491 requires. The Minister of State grants it after a reasoned opinion from a commission chaired by the Government Counsellor-Minister for Finance and Economy, based on an information document that must be accurate, clear and not misleading. State services publish the list of labelled offers.
Who can a private token offer be addressed to?
The conditions separating a private offer from a public one are set by sovereign ordinance, and the law firm checks them case by case. The law sets the rest: a prior label, a joint-stock company registered in Monaco, an authorized provider's platform and funds held in escrow in an account in the Principality until the operation ends.
What would Bill 1131 change?
It is a bill, not a law: the National Council received it on August 6, 2026, and it has no committee or rapporteur yet. As drafted, it would replace Law 1.528, limit crypto-asset services to three and prohibit the issuance of crypto-assets. Crypto-assets that are financial instruments fall outside its scope.
Asset tokenization
Assets we tokenize in Monaco.
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.
Let's talk about your project in Monaco
Tell us which right you want to represent and we will review with the law firm which structure Monaco's framework allows today.
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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