Uruguay“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 Uruguay
We build the platform to tokenize corporate bonds, shares and revenue rights in Uruguay: investor onboarding, ERC-3643 tokens and the register of each issuance, coordinated with the law firm that structures it under Securities Market Law 18,627 and Central Bank of Uruguay supervision.
Tokenize your asset
They trust Metlabs to tokenize their assets
Why Uruguay
Why tokenize assets in Uruguay?
Since 2024, Uruguayan law has recognized book-entry securities issued and transferred on DLT, subject to requirements set by the Central Bank of Uruguay, and in 2026 the BCU approved its framework for virtual asset service providers. On crowdfunding platforms, companies can issue equity, debt or hybrid securities. What each issuance still has to settle is which decentralized register the supervisor will accept.
75M UI
maximum annual sales for a company to issue on a crowdfunding platform
BCU · Circular 2484, 20252026
year the BCU approved its authorization framework for virtual asset service providers
BCU · Circular 2507What gets tokenized
Debt, equity and revenue: what gets tokenized in Uruguay
Almost every tokenized issuance represents one of these three rights against the issuer. In Uruguay the right determines the vehicle, the applicable law and who keeps the securities register, and it is settled before the network or the token standard.
| Right | Debt | Equity | Revenue |
|---|---|---|---|
| What is issued | Obligaciones negociables (corporate bonds) | Shares in a sociedad anónima | Financial trusts 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 receives a share of an asset's cash flows: rents, harvests, energy sold or contract receivables. |
| The token enforces |
|
|
|
| Issuer | Commercial companies and cooperatives | S.A.; an SAS, with no public offer | Financial trustee or company |
| Register | Registrar entity | Share ledger or registrar entity | Registrar entity |
| Law | Law 18,627 | Law 16,060 and Law 18,627 | Law 17,703 and Law 18,627 |
| How it is issued | They are securities and, when offered to the public, must be in book-entry form; since 2024 those entries can be kept on DLT under BCU requirements. The issuance document names a single registrar entity. An SAS that issues bonds must follow the rules for public corporations. | Quotas in an S.R.L. cannot be represented by negotiable instruments, and assigning them to third parties requires 75% of the capital or unanimity, so they cannot be the token. An S.A. can keep book-entry shares in its share ledger, and an SAS cannot offer its shares to the public. | The securities law covers any credit or investment right, so a revenue right offered to the public is usually a security. The local vehicle is the financial trust: an authorized trustee ring-fences the asset and issues participation certificates on its cash flows, which the law treats as negotiable instruments. |
Regulation
Regulation guide for UruguayWhich regulation applies to tokenization in Uruguay?
A token that represents a security follows Securities Market Law 18,627 and is supervised by the Financial Services Superintendency of the BCU. The virtual asset service provider (VASP) license under Circular 2507 is a separate authorization: it covers the provider, excludes instruments with their own regime and does not, by itself, permit any issuance.
The 2024 amendment recognizes book-entry securities on a decentralized register, but it leaves their requirements to BCU regulation, and each issuance has a single registrar entity named in the issuance document. That recognition does not validate any particular network, issuer or digital document. To offer the securities to the public, both the issuer and the issuance must first be recorded in the Securities Market Register.
There are three routes to investors: a registered public offer, under the general or simplified regime; a private issuance, placed only directly with specific persons, with no advertising or stock exchange listing; or an authorized crowdfunding platform, which also acts as registrar entity and paying agent. We design the technical side with the law firm that structures the issuance, and authorized entities provide the regulated services.
Uruguay
FavourableScore79
- Authorities
- Central Bank of Uruguay, SSF and UIAF
- Latest regulatory change
- Aug 2026
Key authorisations
- Prior SSF VASP authorisation and declaration of activities
- Securities framework for instruments and services outside the VASP licence
- Application transition for existing operators until 31 March 2027
Our legal partners
Methodology
How we tokenize an asset in Uruguay, step by step
The four phases of our methodology, with the parties involved in Uruguay. The law firm and our engineering team work in parallel from the asset review to investor acquisition.
We review the asset's title, collateral and cash flows, and decide with the issuer whether the token will be a corporate bond, a share or a participation certificate. That sets the vehicle, an S.A. or a financial trust, the amount and the rules of the issuance.
The law firm classifies the token, drafts the issuance document and chooses the route: a public offer registered with the BCU, a private issuance or a crowdfunding platform. The document names the registrar entity that will keep the securities' book entries.
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 registrar entity's records and coupon or distribution schedules are custom development.
With the issuer and, where there is one, the securities intermediary or platform 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 Uruguay
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 Uruguay?
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 ID card (cédula), KYB, AML checks and a custodial wallet.
- End-to-end investmentElectronic signature and bank transfer in dollars or stablecoin (USDT/USDC).
- ERC-3643 tokensEach subscription is issued under the rules of the BCU-registered public offering.
- Issuer consoleProjects, investors, dollar reconciliation, coupons and reporting.
- Compliance and audit trailKYC and AML 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 Uruguay
What we are asked before a project starts.
Talk to our teamIs asset tokenization legal in Uruguay?
Yes. Since 2024, Law 18,627 has recognized book-entry securities on a decentralized register, issued and transferred on DLT, provided they comply with the law and BCU regulation. What requires authorization is the activity: offering securities to the public requires recording them in the Securities Market Register, and providing regular virtual asset services requires the VASP license.
Can an S.R.L. be tokenized in Uruguay?
Its quotas cannot: Law 16,060 bars representing them as negotiable instruments, caps the company at fifty members and requires the consent of 75% of the capital, or unanimity with five members or fewer, to assign quotas to third parties. An S.R.L. can issue tokenized corporate bonds or convert into an S.A. to tokenize shares.
Which companies can issue on a crowdfunding platform in Uruguay?
Resident and non-resident companies with annual sales of up to 75 million indexed units, and no outstanding issuances under the general or simplified regime. They can issue equity, debt or hybrid securities, and financial trusts also qualify if their initial assets do not exceed that amount. The platform is the registrar entity, so the token has to reconcile with its records.
Do you need a VASP license to tokenize an asset?
Not to issue a security: Circular 2507 excludes activities involving instruments subject to special regulation, and securities follow Law 18,627. Anyone regularly providing exchange, transfer or custody of virtual assets does need it, including through smart contracts. The VASP license does not cover issuing stable virtual assets either.
Asset tokenization
Assets we tokenize in Uruguay.
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 Uruguay
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
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