Uruguay is the Southern Cone country that legislated virtual assets in an orderly way: Law 20.345 placed providers under the Central Bank and made clear that a virtual asset that is a security follows the Securities Market Law. With institutional stability, a mature trust industry and a financial-hub vocation, it is one of the most predictable jurisdictions in the region for structuring.
The framework: Law 20.345, BCU and SSF
Law 20.345 brought virtual assets into the perimeter of the Central Bank of Uruguay: virtual asset service providers (PSAV) need a licence and supervision by the Financial Services Superintendence (SSF), with anti-money-laundering and user-protection duties. Virtual assets that are securities — the case of almost all investment tokenization — are governed by Law 18.627 on the securities market and the same SSF: issuer registration, investor information and, if there is a public offering, its requirements.
The vehicle: the Uruguayan trust
Law 17.703 on trusts is one of the most used in the region: financial trusts that issue securities backed by the trust estate, with professional trustees registered with the BCU. It is the Uruguayan variant of the Latin American fideicomiso and the natural vehicle for representing the trust's participation certificates or debt securities in tokens.
What is being tokenized
Real estate (Montevideo and Punta del Este attract regional capital), agriculture and livestock — Uruguay exports cattle traceability and tokenizing farm income fits naturally — and mid-size corporate debt. The reading for an issuer: the country offers framework, trustee and local institutional investors; what it demands is doing it to public-offering standards from day one.
How we work with issuers in the country
The anatomy does not change from country to country: classification of the asset, a vehicle with segregated assets, a token with transfer restrictions, verified identity on every transfer and serious custody — the seven-layer platform we build, with the local legal layer on top and a local counsel alongside. The full map of the region is in tokenization in Latin America.
Framework described as of mid-2026; regimes change — check the current status before structuring. Project in Uruguay? Talk to us.