Name
Global FinTech Guide
Country _ Name
Argentina
SectionTitle
Asset and portfolio management
Body
FinTechs belonging to this category offer asset and portfolio management services via an internet platform or software programs and usually manage and dispose of the assets of their customers long or short term according to their specifications without actually holding the property or the possession of those assets. FinTechs, which provide information about and access to overnight or time deposit accounts at national and foreign banks and which execute the transactions to these accounts, also belong to this category. Some FinTechs however only act on request of the customer.

Aside from that some FinTechs offer software or internet solutions enabling users to manage and plan their personal finances on their own by providing graphics, overviews and compilations of their financial data and sometimes indicating financial risks or opportunities, but without actually managing the assets.

Introduction

Attitude of the country towards modern asset and portfolio management services

Online broking and auto-trading platforms are growing fast in Latin America and in Argentina in particular. Financial services provided by companies within the WealthTech and InvestTech segment are experiencing high levels of adoption within the younger generations. Some of the most popular trading platforms in Argentina are InvertirOnline, Balanz Capital, Inviu, Cocos Capital, among others.

Legal affairs

Obligations and requirements to provide asset and portfolio management, or ancillary services described above

Consulting, broking, trading, and portfolio management are financial services activities governed by the Argentine Mutual Funds Law 24,083 (Ley de Fondos Comunes de Inversión) and the Argentine Capital Markets Law 26,831 (Ley de Mercado de Capitales). Depending on the type of investment advice or the financial services offered, the Argentine Capital Markets Law requires a special license to be issued by the National Exchange Commission (Comisión Nacional de Valores or 'CNV').
Depending on the type of financial services provided by online trading and broking platforms, these companies have to obtain a special license and registration before the CNV whether as Agentes de Compensación y Liquidación ('ALyCs'), Agentes Integrales de Negociación, Agentes de Colocación y Distribución Integral de Fondos Comunes de Inversión, Agentes Productores de Agentes de Negociación, as applicable.
Since March 2024, under Law 27,739 and CNV General Resolutions 994/2024 and 1058/2025, Virtual Asset Service Providers (VASPs or PSAVs) must register with the CNV, in addition to compliance with AML/CFT rules under the UIF . This new regime includes:

  • Mandatory CNV registration for individuals and companies engaged in crypto-asset activities (exchange, custody, transfer, trading) via the VASP Registry .
  • Clear entity eligibility and deadlines: natural persons until July 1, 2025; locally incorporated firms until August 1, 2025; foreign entities either integrating locally or registering as branch under Law 19,550 by September 1, 2025 .
  • Minimum net worth requirements ranging from USD 35k to USD 150k depending on service category, detailed in RG 1058 .
  • Operational and cybersecurity standards, including segregation of client crypto-funds, secure custody, auditing of IT systems, appointment of compliance and customer service officers .
  • Monthly and annual reporting obligations to CNV, detailing wallet addresses, client numbers, volumes, key assets; monthly by November 2025, full framework effective December 31, 2025 .
  • Prohibition of promoting crypto-assets as securities, unless publicly authorized under the Capital Markets Law .
  • Powerful enforcement tools: CNV may block non-registered VASPs, suspend or revoke registrations for non-compliance .
Thus, any FinTech involved in crypto trading, custody, or virtual asset services must comply with both the traditional Capital Markets and Mutual Funds licensing regimes, plus the new CNV VASP framework, including capital requirements, strong cybersecurity, governance, transparency, AML/KYC, separation of funds, and reporting.

Additional comments regarding the legal situation for asset and portfolio management services or what FinTech’s must be aware of in this business area

FinTechs must comply not only with CNV licensing but also with UIF AML/CFT programs (extended to VASPs via UIF 49/2024) and Argentina ’s data protection law (PDPL 25,326). The emergence of institutional crypto-custody services like Prosegur Crypto—registered under CNV VASP—highlights the rapid professionalization of the virtual asset industry. Ongoing oversight expansion, including tokenization, open finance frameworks, and enhanced consumer safeguards, makes this a dynamic regulatory environment for asset managers and fintechs


Economic conditions

Market size for asset and portfolio management services and biggest companies in this business area

Argentina ’s capital markets registered record-breaking activity in 2024–2025. The average daily traded volume on BYMA reached approximately USD 5.7 billion in 2024, rising to nearly USD 9 billion/day by December and showing a 57% year-on-year increase into early 2025. Investor accounts in the depository grew from 16.5 million in late 2024 to over 20 million by January 2025.
Fixed-income trading surged to USD 550 million per day by December—double the volume seen at the start of the year—while equities trading jumped from USD 28 million/day to USD 150 million/day. In the first half of 2024, total capital market turnover reached around USD 536 billion (MEP), a 91% rise over the previous year, and corporate issuances totaled USD 23.9 billion, more than doubling 2023 levels.
Key market operators continue to dominate sector volumes: Galicia Securities SA
leads in fixed-income trading, and top players in equities and advisory include Allaria Ledesma & Cía, InvertirOnline, Balanz Capital, and Cocos Capital.


Additional comments regarding the economic situation for asset and portfolio management services or what FinTech’s must be aware of in this business area

Traditional companies offering financial/broking services to retail investors are facing a rapid disruption of technology. Newly born Start-ups in the InvestTech segment are emerging in a context in which large groups of people – historically excluded from traditional financial services – are demanding democratisation in the access to consulting, broking, and financial services. This represents a great opportunity in emerging markets in Latin America and Argentina is not an exception.


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