Fintech in the dollarized economy of the Americas
Panama offers structural conditions that are unique in Latin America for fintech: the US dollar has been legal tender since 1904, eliminating FX risk, and there are no exchange controls. Its International Banking Center groups dozens of local and international banks under the supervision of the Superintendency of Banks of Panama (SBP), which also supervises e-money entities and payment services. Domestic digital adoption is growing fast, led by wallets like Yappy (Banco General), and the country has robust connectivity thanks to multiple submarine cables. Incentives include the SEM regime (reduced corporate income tax for regional multinational headquarters) and Ciudad del Saber for startups and R&D. Important regulatory note: Panama does NOT currently have a comprehensive digital-asset framework in force — the 2022 crypto bill (Bill 697) was declared unconstitutional by the Supreme Court on July 14, 2023, and a new bill (Bill 247, introduced in 2025) remains pending. Any business model involving crypto-assets should be verified with the SBP and local legal counsel before investing. This page is informational and does not constitute legal or tax advice.
Discover the main opportunity areas in this sector
Wallets, acquiring and B2B payments on a user base that has already adopted Yappy as the domestic standard.
High-volume dollar remittance corridors to and from the region, with room to cut costs via digital rails.
Dollar-denominated banking infrastructure for fintechs across Latin America, leveraging the International Banking Center.
Digital insurance distribution in a regional market with low penetration.
Alternative scoring and digital credit for SMEs and consumers outside traditional banking.
Our specialized advisors can guide you through the entire process of establishing in Panama
Contact Now* Information provided is for guidance purposes only. Consult legal and tax advisors to verify current conditions.
Last updated: 7/13/2026
