Spain - Regulator for your fintech

Are you looking for an EU regulator to secure your operations in the EEA region? Why not Spain?

Fintech in Spain

Spain became one of the most active fintech ecosystems in Europe - it has a vast experience in PSPs authorisations, offers tax exemptions to lower business costs as well as some additional benefits compared with other jurisdictions. The Spanish market is a highly developed payment market with great perspectives.

According to the latest Fintech Radar report by Finnovista, the number of Spanish fintechs increased by 16% in 2019. The fintech sector in Spain showed sustainable growth in recent years in both the number of companies and attracted private investments. Now the Spanish fintech ecosystem is gaining strength and there are nearly 400 fintech startups with a dramatic increase from 50 fintech startups reported just five years ago. In fact, FinTech firms raised 192.93 million euros in 2019.

According to European Central Bank data, in 2019, a record number of 50 companies received Payment Institution licenses in Spain, thus taking the first place in the EEA & UK area and overtaking the British regulator FCA by 2 licenses. For Electronic money licenses, Spain takes 4th place in the EU & UK area after Great Britain, Lithuania, and Ireland. These figures show Spain's Rise as a Fintech Hub. According to Findexable's the Global Fintech Index 2020, Spain takes 13th place in Fintech Global ranking.

Spain actively works on fintech industry development and plans to launch a regulatory "sandbox" for financial technology companies. It will be a trial and error testing space, where fintech projects can be undertaken with real clients without compromising financial regulation. It is expected to launch the sandbox later this year.

Read our article about how to obtain a license in Spain here.

Regulatory bodies of Spain

Bank of Spain

The Bank of Spain is the central national bank. Together with the European Central Bank, it is the supervisory authority of the Spanish banking system.


The Spanish Securities Market Commission (Comisión Nacional del Mercado de Valores) (CNMV) is the supervisory authority in charge of the supervision and inspection of the securities markets in Spain and of the activity of all those who intervene in said market.


The Executive Service of the Commission for the Prevention of Money Laundering and Monetary Infringements (Servicio Ejecutivo de la Comisión de Prevención de Blanqueo de Capitales e Infracciones Monetarias) is in charge of supporting the Commission for the Prevention of Money Laundering and Monetary Infringements, which is attached to the Bank of Spain.

If you are planning to start your fintech business in the EEA and need assistance in licensing, please contact Advapay. 

About: Advapay provides Core Banking platform, consulting and licensing for fintechs and digital banks.