Chile has one of Latin Americas most complete fintech regulations: Law 21.521 (January 2023), implemented by the CMF through 2023-2024, created a regulatory perimeter where tokenization stopped being an experiment and became an institutional financial tool. The Chilean golden rule is the European one: the regime depends on the nature of the asset.
Tokenized securities: Securities Market Law + NCG 502
Tokens representing securities — shares, bonds, fund units — are governed by the Securities Market Law, General Rule (NCG) 502 and CMF supervision: prior authorisation, prudential standards and investor protection. The same «same instrument, same rules» logic we apply in Spain, with Chilean nomenclature.
Non-financial assets: the VASP route
Real estate, commodities or cultural goods can be tokenized under the Fintech Law with issuers and platforms registered as VASPs, meeting governance, transparency and AML obligations. Chile adds an Open Finance System regulated by the CMF — relevant for anyone building financial product on top of the tokens.
How we work with Chilean issuers
Asset classification first (security or not?), vehicle second, technology last — with the seven-layer platform and custody at the institutional level the CMF expects. The full regional map is in asset tokenization in Latin America.
Framework as of mid-2026. A project in Chile? Talk to us.