Panama“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 Panama
We build the platform to tokenize bonds, shares and trust certificates in Panama: investor onboarding, ERC-3643 tokens and the issuer's register of holders, coordinated with the law firm that structures the offer under Decree-Law 1 of 1999 and the supervision of the SMV.
Tokenize your asset
They trust Metlabs to tokenize their assets
Why Panama
Why tokenize assets in Panama?
Panama has no virtual asset law, but its securities market law allows book entries whose ownership is recorded in the issuer's register, and the SMV distinguishes cryptocurrencies from rights against an issuer. A debt, equity or revenue token therefore fits within the securities regime. What is missing is express recognition of the distributed ledger.
25
maximum offerees in a private placement exempt from registration, with no more than ten buyers in a year
SMV · Decree-Law 1 of 19992025
year of the SMV opinion that separates cryptocurrencies from credit or participation rights against an issuer
SMV · Opinion 04-20252023
year the Supreme Court declared the virtual asset bill unconstitutional
Judiciary · Ruling of Jun 6, 2023What gets tokenized
Debt, equity and revenue: what gets tokenized in Panama
Almost every tokenized issuance represents one of these three rights against the issuer. Panamanian law includes all three in its definition of a security, so the right determines the vehicle 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 negotiable commercial paper | Shares in a sociedad anónima | Trust and participation certificates |
| 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 cash flows of an asset contributed to a trust: rents, sales or contract receivables. |
| The token enforces |
|
|
|
| Issuer | SMV-registered or exempt issuer | Sociedad anónima | Trust company licensed by the SBP |
| Register | Issuer's register or depository | Issuer's register or depository | Issuer's register or depository |
| Law | Decree-Law 1 of 1999 | Decree-Law 1/1999 and Law 47/2013 | Law 1 of 1984 and Decree-Law 1/1999 |
| How it is issued | To offer them to the public, the issuer registers the offer with the SMV and a prospectus. The law allows book entries whose ownership is recorded only in the register kept by the issuer or its agent, and securities traded on an exchange are first deposited with a central custodian. The distributed ledger is not expressly recognized. | Shares are securities. Since Law 47 of 2013, anyone holding bearer shares must hand them to an authorized custodian, so the token is built on registered shares. Outside a private placement or another exemption, an offer to residents is registered with the SMV. | The securities law names participation, securitization and trust certificates as securities. The asset goes into a trust run by a trust company licensed by the Superintendency of Banks, which issues certificates on its cash flows; offering them to the public follows SMV rules. |
Regulation
Regulation guide for PanamaWhich regulation applies to tokenization in Panama?
Panama has neither a virtual asset law nor a DLT securities regime. A token representing a credit or participation right against an issuer is analyzed under Decree-Law 1 of 1999, the securities market law, and the SMV supervises it. Banks and trust companies answer to the Superintendency of Banks, and there is no general virtual asset service provider license.
The law allows securities represented by book entries whose ownership is recorded in the register of the issuer or its agent, and requires them to be deposited first with a central custodian if they trade on an organized market. That the register can be a DLT network is not expressly recognized, and the law firm validates it for each issuance. The SMV's Opinion 04-2025 on a non-custodial platform applies only to the facts described to it.
An offer to persons domiciled in Panama is registered with the SMV unless exempt: a private placement, institutional investors on the SMV's terms or other exemptions it sets by agreement. Brokering securities in or from Panama requires a broker-dealer or investment adviser license, even if the investors are abroad. We design the platform with the issuer's law firm, and licensed broker-dealers, trust companies and depositories provide the regulated services.
Panama
- Authorities
- SMV for securities and activities within its remit; SBP for banking, trusts and assigned preventive supervision; UAF for financial intelligence
- Latest regulatory change
- Jul 2026
Key authorisations
- Activity-specific SMV licences for business in or from Panama
- Banking, trust and payment permissions according to model
- No general VASP licence established; administrative opinion is not a licence
Our legal partners
Methodology
How we tokenize an asset in Panama, step by step
The four phases of our methodology, with the parties involved in Panama. 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 registered share or a trust certificate. That sets the vehicle, a sociedad anónima or a trust, the amount and who the offer is addressed to.
The law firm classifies the token, drafts the issuance documents and decides whether the offer is registered with the SMV with a prospectus or fits an exemption. It also sets who keeps the register of holders: the issuer, its agent or a securities depository.
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 number of offerees in a private placement. Reconciliation with the register of holders and payment schedules are custom development.
With the issuer and the broker-dealer placing the issuance, we prepare the offer page and measure the journey to a paid subscription. Afterwards, the platform handles distributions, transfers between verified investors and reporting.
Reviews in Panama
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 Panama?
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 on the investor portal.
- Investor onboardingSign-up, KYC with cédula or passport, KYB, AML/CFT checks and a custodial wallet.
- End-to-end investmentE-signature and payment in dollars via ACH or with stablecoins (USDT/USDC).
- ERC-3643 tokensEach subscription is issued under the rules of the offer registered with the SMV.
- Issuer consoleProjects, investors, dollar reconciliation, distributions and reporting.
- Compliance and audit trailKYC and AML/CFT 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 Panama
What we are asked before a project starts.
Talk to our teamIs asset tokenization legal in Panama?
No law prohibits it and none regulates it specifically: the virtual asset bill was declared unconstitutional in 2023. A token representing a security follows the securities market law, with the offer registered with the SMV or exempt, and brokering requires a broker-dealer license.
Can bearer shares be tokenized in Panama?
Not as instruments passed from hand to hand: since Law 47 of 2013, every owner of bearer shares must appoint an authorized custodian to keep the certificates. An equity token is built on registered shares, with ownership recorded in the register kept by the issuer, its agent or a securities depository.
How many investors can an offer reach without registration in Panama?
The law exempts an offer made to no more than twenty-five persons that results in sales to no more than ten within a year, unless the SMV sets other numbers. Offers to institutional investors can also be exempt on its terms. Outside those cases, an offer to residents is registered with a prospectus.
Does selling tokens only to foreign investors avoid Panamanian regulation?
Not entirely. An offer to persons domiciled outside Panama is not considered made in Panama, but brokering securities from the country still requires a broker-dealer or investment adviser license. The offer is also subject to the rules of each investor's country.
Asset tokenization
Assets we tokenize in Panama.
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.
Real estate tokenization companies and platforms
How to compare tokenized real estate platforms and companies by role, rights, integration and operations, separating technology, issuance and distribution.
Tokenize your asset in Panama
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 KongBrazilEcuadorFranceIndiaAndorraAustriaBahrainBelgiumBoliviaCanadaCosta RicaCubaCyprusCzechiaDenmarkDominican RepublicEl SalvadorEstoniaFinlandGreeceGuatemalaHondurasHungaryIrelandIsraelItalyJapanKuwaitLiechtensteinLithuaniaLuxembourgMaltaMonacoMoroccoNetherlandsNew ZealandNicaraguaNigeriaNorwayOmanParaguayPolandPuerto RicoQatarRomaniaSan MarinoSaudi ArabiaSeychellesSouth AfricaSouth KoreaSwedenTurkeyUruguayVenezuela
