Morocco“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 Morocco
We analyze what can be done in Morocco under the current framework: today there is no route to offer investment tokens to the public, and bill 42.25 has not been enacted. With the law firm, we prepare the asset's structure and the 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 Morocco?
Today there is no route to offer investment tokens to the public in Morocco. Bank Al-Maghrib, the AMMC and the Office des Changes prohibit the use of virtual currencies and restated it in April 2022, and digital asset bill 42.25 has not been enacted. What exists is crowdfunding under Law 15-18, which makes no provision for tokens.
2022
year of the latest joint warning by Bank Al-Maghrib, the AMMC and the Office des Changes against the use of virtual currencies
Office des Changes · Apr 5, 202242.25
number of the digital asset bill, with a presentation note dated August 5, 2025 and not yet enacted
SGG · preliminary draft2021
year of Law 15-18, which regulates crowdfunding through investment, lending or donation
AMMC · Law 15-18What gets tokenized
Debt, equity and revenue: what gets tokenized in Morocco
Almost every tokenized issuance represents one of these three rights against the issuer. In Morocco none of them has a tokenized route today; the table summarizes what the law says about each.
| Right | Debt | Equity | Revenue |
|---|---|---|---|
| What is issued | Crowdfunding loans | Equity stakes | Revenue rights |
| The investor receives | The investor lends to the project owner and is repaid, with or without interest, under the platform's terms. | The investor joins the capital of a commercial company: dividends, voting rights and a share of any sale. | The investor would receive a share of the income from an asset: rents, energy sold, sales or royalties. |
| The token enforces |
|
|
|
| Issuer | Project owner on a platform | Moroccan commercial company | No route for an offer |
| Register | Platform's account keeper | Company register | No regime |
| Law | Law 15-18 (2021) | Law 15-18 (2021) | Bill 42.25, not in force |
| How it is issued | No tokenized route. The law allows loans to be raised from the public through the platform of a crowdfunding company (SFC) approved by Bank Al-Maghrib, with per-contributor caps set by regulation. It makes no provision for representing the loan as a token. | No tokenized route. Investment crowdfunding takes the form of a direct or indirect stake in the capital of a commercial company, through a platform approved by the AMMC. The law does not provide for representing that stake as a token. | A revenue token that is not a financial instrument would fall under bill 42.25, which is not yet law. Today no regime allows it to be offered to the public, and the financial authorities maintain the ban on using virtual currencies. |
Regulation
Regulation guide for MoroccoWhich regulation applies to tokenization in Morocco?
Today, no specific regulation. Bank Al-Maghrib, the AMMC and the Office des Changes prohibit the use of virtual currencies, and bill 42.25, which would regulate digital assets, has still not been enacted. The guide notes that this ban does not by itself extend to developing blockchain software, but there is no route to offer investment tokens.
Bill 42.25 would give the AMMC authority to license service providers and share with Bank Al-Maghrib the supervision of asset-referenced tokens; it excludes financial instruments, unique NFTs and decentralized finance. It would take effect on publication in the Bulletin officiel, with an eighteen-month transition period that has not yet started.
Any transaction involving funds follows the 2026 general foreign exchange instruction, applied by the Office des Changes since January 1, which is not an authorization for digital assets. While the framework stays as it is, we prepare with the law firm the map of the asset's rights, participants and flows, and the technology, without budgeting for a license that does not yet exist.
Morocco
- Authorities
- AMMC and Bank Al-Maghrib according to activity; Office des Changes; ANRF for financial intelligence
- Latest regulatory change
- Jan 2026
Key authorisations
- Bill 42.25 service licence: operational availability unconfirmed
- Sectoral financial permissions according to the instrument
- Compliance with applicable foreign-exchange rules
Our legal partners
Methodology
How we tokenize an asset in Morocco, step by step
The four phases of our methodology, with the parties involved in Morocco. Under the current framework, the work stays in the first two and in preparing the technology; there is no tokenized offer to launch.
We review the asset's title, encumbrances and cash flows and the right the issuer would want to offer: debt, equity or revenue. That shows which route it would have today without tokens, such as crowdfunding, and what would depend on bill 42.25.
The law firm checks the right and the flow of funds against the rules in force: Law 15-18, the foreign exchange instruction and the authorities' warning. It follows the progress of bill 42.25 without treating its text or transition period as current permissions.
We can have the white label platform ready: investor onboarding with KYC, signature and ERC-3643 tokens carrying the offer's rules. It is not put into production for investors in Morocco until a legal route allows it.
Under the current framework there is no tokenized fundraising to launch. If the framework opens, this phase would cover the offer page, the journey to subscription and, after the issuance, distributions, transfers between verified investors and reporting.
Reviews in Morocco
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 Morocco
What we are asked before a project starts.
Talk to our teamIs asset tokenization legal in Morocco?
Today there is no route to offer investment tokens to the public. Bank Al-Maghrib, the AMMC and the Office des Changes prohibit the use of virtual currencies, as they restated in their statement of April 5, 2022, and digital asset bill 42.25 has not been enacted. The ban does not by itself cover developing blockchain software.
What does bill 42.25 say?
It proposes that the AMMC license digital asset service providers and that Bank Al-Maghrib supervise the issuance of asset-referenced tokens; it excludes financial instruments, unique NFTs and decentralized finance. It would take effect on publication in the Bulletin officiel and provides for an eighteen-month transition, which has not started.
Can crowdfunding be used in Morocco?
Yes, in the form set by Law 15-18: raising funds from the public through equity investment, lending or donation on the platform of a company approved by the AMMC or Bank Al-Maghrib, with per-contributor caps set by regulation. The law makes no provision for representing those stakes or loans as tokens.
What can be prepared in the meantime?
The asset review, the map of rights, participants and flows of funds, and the technology, for when the framework allows it. A license under bill 42.25 cannot be budgeted for, a token offer cannot be launched, and any currency flow follows the foreign exchange instruction in force.
Asset tokenization
Assets we tokenize in Morocco.
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 Morocco
Tell us which right you want to issue and we will analyze with the law firm what the framework allows today and what is worth preparing.
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 SalvadorEstoniaFinlandGreeceGuatemalaHondurasHungaryIrelandIsraelItalyJapanKuwaitLiechtensteinLithuaniaLuxembourgMaltaMonacoNetherlandsNew ZealandNicaraguaNigeriaNorwayOmanParaguayPolandPuerto RicoQatarRomaniaSan MarinoSaudi ArabiaSeychellesSouth AfricaSouth KoreaSwedenTurkeyUruguayVenezuela
