One-liner: Spain's fintech regulatory sandbox — the espacio controlado de pruebas of Ley 7/2020 — where you can test a financial-innovation product with the actual supervisors (Banco de España, CNMV, DGSFP) watching, under a bespoke test protocol, before holding a full licence. Coordinated by the Secretaría General del Tesoro y Financiación Internacional.
What you get
- A controlled, time-limited live test of your financial innovation with direct supervisor engagement and a designated "monitor" per test.
- Regulatory learning and a strong credibility signal for investors/partners.
- Important: participation does not grant authorisation to operate — it is limited to the signed protocol.
Who it's for (access requirements — Art. 5)
- Projects of financial innovation "sufficiently advanced to be tested" — i.e. presenting a prototype with minimum functionality to verify its utility.
- The innovation must offer potential utility or added value (e.g. improved regulatory compliance, consumer benefit, efficiency gains, or advancing financial-market functioning), as judged by the competent authorities.
- Any promoter (established firm or startup) may apply; no prior licence required.
How to apply (Título II, Cap. I)
- Submit an access request to the Secretaría General del Tesoro by the admission deadline of a given call (the Tesoro sets periodic convocatorias — Art. 6.3).
- Prior evaluation (Art. 7): the relevant supervisors assess the project's innovative interest and readiness.
- Sign the test protocol (protocolo de pruebas) with the supervisors — it fixes the limited scope, duration, phases, safeguards and monitoring of the test. Testing begins once the required guarantees are in place.
- Two-year rule: projects are counted from the resolution date; admission tied to the call's deadline.
Safeguards during testing (Título II, Cap. II)
- Informed consent & data protection for participants; right of withdrawal (desistimiento);
- Promoter liability and damage guarantees; confidentiality guarantees;
- Continuous monitoring by the designated supervisor monitor; the test can be modified or halted.
Key facts
- Free. Governed by Ley 7/2020, de 13 de noviembre (medidas para la transformación digital del sistema financiero).
- Authority: Secretaría General del Tesoro y Financiación Internacional; supervisors Banco de España / CNMV / DGSFP.
- Cadence: periodic calls; the ~semi-annual (March/September) pattern is observed but should be reconfirmed each year
#status/verify.
Relations
- Partners with: National Regulatory Sandbox
- See also: Fintech (niche)
- See also: Startup Law (regulation)
- See also: Innsomnia