Spain’s Fintech Sector: A Thriving Hub of Innovation
Spain has become a key player in Europe’s fintech ecosystem, offering strong digital infrastructure, a skilled workforce, and an innovation-friendly legal environment. If you’re looking to launch or invest in a fintech company in Spain, understanding the main types of fintech activities is the first step.
Let’s break down the core categories of fintech businesses legally recognized and regulated in Spain.
📚 Main Types of Fintech Activities in Spain
1. Payment Services (PSPs & EMIs) 💳
These include companies that process electronic payments and issue digital money.
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🏦 Regulated by the Bank of Spain
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💼 Must obtain a license as a Payment Institution (PSP) or Electronic Money Institution (EMI)
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🔐 AML/CFT compliance is mandatory
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📱 Examples: Mobile wallets, neobanks, remittance services
2. Crowdfunding Platforms (PFPs) 🤝
Platforms that connect investors and projects.
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📜 Regulated under Law 5/2015 and supervised by the CNMV (Spanish Securities Commission)
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🔍 Two types: Equity crowdfunding and peer-to-peer lending
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💰 Subject to investment limits and transparency rules
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👥 Must operate through a licensed Participatory Financing Platform (PFP)
3. Digital Lending Platforms 💸
Offer loans to consumers or businesses using online technology.
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📝 Often structured as PFPs or collaborate with credit institutions
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📊 Use of alternative data and AI for credit scoring
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⚖️ Must comply with consumer credit and data protection laws
4. Crypto Asset Services 🪙
Companies involved in buying, selling, or safekeeping digital assets.
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🧾 Regulated under Law 10/2010 (AML/CFT)
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📍 Must register with the Bank of Spain as a crypto asset service provider
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🔐 Strict KYC/AML policies required
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🔎 Tax obligations for crypto transactions
5. Insurtech 🛡️
Combining insurance with technology to deliver policies, claims, and underwriting.
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🧠 Use of AI, IoT, and automation
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📋 Must comply with insurance distribution regulations
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🧑💻 Includes online brokers, automated comparison tools, and claim apps
6. Wealthtech & Robo-Advisors 📈
Digital platforms offering automated investment advice and portfolio management.
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🏛️ Supervised by the CNMV
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⚠️ Must be licensed as investment advisors or partner with licensed entities
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📱 Apps use algorithms to personalize investment strategies
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💼 Subject to MiFID II requirements
7. Regtech 🧾
Helps other financial firms comply with legal and regulatory obligations using software and automation.
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🔐 Focuses on KYC, transaction monitoring, and fraud prevention
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📉 Reduces compliance costs for banks, insurers, and fintechs
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⚙️ Not always regulated directly but must follow data protection and cybersecurity laws
8. Neobanks & Digital Banking 🏦
Fully digital banks offering accounts, cards, loans, and more without physical branches.
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✅ Require full banking license or partnership with a traditional bank
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📱 App-driven interfaces with strong UX
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🔒 Must comply with banking and consumer protection regulations
9. Blockchain-as-a-Service (BaaS) ⛓️
Provide backend blockchain infrastructure for third parties.
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🛠️ Used by fintechs, real estate firms, supply chains
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📜 May require licenses if offering financial products
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🧩 Often integrated with smart contracts and tokenization platforms
⚖️ Key Regulatory Bodies in Spain
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CNMV (Comisión Nacional del Mercado de Valores) – supervises securities markets and investment services
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Banco de España – oversees financial institutions, PSPs, and crypto providers
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SEPBLAC – monitors anti-money laundering compliance
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AEPD – Spanish Data Protection Authority (for GDPR-related matters)
🚀 Spain’s Fintech Sandbox
Spain offers a regulatory sandbox for fintech startups to test innovations under regulatory supervision without full licensing—ideal for:
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Blockchain products
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AI-driven financial tools
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Decentralized finance (DeFi)
🧑⚖️ How Borderless Lawyers Can Help
We help fintech founders and investors:
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📋 Choose the right structure and licensing path
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✍️ Prepare documentation for CNMV/Bank of Spain
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🔐 Implement GDPR and AML compliance
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🌐 Expand internationally from Spain
✅ Ready to Launch Your Fintech Business in Spain?
Whether you’re building a payments app, robo-advisor, or crypto exchange, Spain’s fintech landscape offers immense opportunities—if you navigate the legal framework correctly.