InvestChile Publishes E-Book on New Fintech Law in Chile
The guide has been prepared by the South American country's Foreign Investment Promotion Agency. It contains the main guidelines to promote this area of the financial industry.
SANTIAGO, Chile, January 26, 2023 (Newswire.com) - From this year, Chile has had a new law to regulate and promote the Fintech industry. And so that the information is readily and quickly available to foreign investors, InvestChile has published its new e-book "Fintech Law: Keys to the new regulations for the sector in Chile."
The guide has been prepared by the South American country's Foreign Investment Promotion Agency. It contains an overview of the industry and its main stakeholders, both in Chile and in the region, as well as the objectives, definitions and principles of the new law, and much more.
The new law aims to update the local financial regulations, considering the progress made, as well as new technological stakeholders, alternative transaction systems, intermediation and credit consultancies, and specification of the rules of open finance.
The expectation is that this will help the growth of the Fintech industry in Chile by providing greater clarity on the rules and regulations that govern the sector. It is also hoped that the country will consolidate its position as a leading hub for Fintech innovation in Latin America, and that it can attract more investors.
In 2021, there were more than 150 companies from the sector in Chile, with almost 50% of them expanding their operations internationally, mainly to Peru, Mexico, Colombia and Argentina.
If you are interested in finding out more, you can download the e-book here.