ERIR register in Spain: authorised entities and issuances

As of 2 October 2026, the official register of Spain’s securities regulator (CNMV) lists one authorised ERIR: URSUS-3 CAPITAL, A.V., S.A., the first to be registered (November 2024). The register records 21 issuances under that ERIR between 7 February 2025 and 31 July 2026, with a combined amount of €77.9 million as stated in the entries. The full list and a CSV are below.

An ERIR (Entidad Responsable de la Inscripción y el Registro) is the entity that keeps the legal register of transferable securities issued on distributed ledger technology (DLT) in Spain. Think of it as the DLT equivalent of a registrar or transfer agent. This list is checked against the official source. Last verified: 2 October 2026.

Entities registered as ERIR

Announced, not yet registered

On 22 May 2026, the Spanish financial press reported that Bestinver Securities had obtained CNMV authorisation to act as an ERIR, alongside a technology alliance with Token City (Bolsamanía, 22 May 2026). As of 2 October 2026 it does not yet appear in the CNMV register, so it is not in the table. We will add it once it is registered.

The register page is titled «Entities and infrastructures designated as ERIR», but on the verification date it only shows the investment firms section, with one entity. You can check the live status in the CNMV register of entities and infrastructures designated as ERIR.

Registered issuances

Every tokenised issuance that goes through an ERIR leaves a public entry at the CNMV. We have collected all of them in one table: 21 entries, all under URSUS-3, retrieved on 2 October 2026. You can download the full dataset as CSV (21 rows, UTF-8), including the verbatim text of each entry.

Totals by year

Totals by instrument type

What the data shows

• Debt dominates: 17 of the 21 issuances are bonds (obligaciones; 3 of them described as non-convertible), accounting for 84.5% of the amount. The other 4 are shares.
• Size: the median amount is €4,229,700, ranging from €50,000 to €7,962,816.
• Special purpose vehicles: 10 of the 21 issuers have «SPV» in their name, and 6 entries belong to HAUSERA PROPERTY MANAGER SPV companies.
• Timing: the median gap between the issuance being recorded at the Commercial Registry (Registro Mercantil) and the CNMV entry is 81 days (range 30 to 241). The register does not explain each gap, but it is a useful figure when planning an issuance timeline.
• Pace: 7 entries in 2025 and 14 so far in 2026. The latest is dated 31 July 2026; none were recorded in August or September.

For an issuer, the practical reading is that, so far, the most common route in Spain has been debt issued through a special purpose vehicle. If you are weighing that route, our guide on how to issue a security token in Spain walks through each step.

Full list

Source: CNMV, «Emisiones inscritas de URSUS-3 CAPITAL, A.V., S.A.» (page 1, page 2 and page 3), retrieved on 2 October 2026. Issuer names are shown exactly as the CNMV publishes them. These are third-party issuances taken from a public register; we do not present them as HokenFi clients or case studies.

Method: what is counted and where it comes from

• Single source: the list of registered issuances of URSUS-3 in the CNMV official register, which on the retrieval date is the entity listed there as an ERIR. No press or platform data is used.
• What each row is: an entry that records, in the CNMV official register, the ERIR as the entity responsible for registering one specific issuance. The CNMV itself states that this registration does not mean it has validated the terms of the issuance or the information provided by the issuer.
• Dates: each row’s date is the one the CNMV shows on the entry. The Commercial Registry date is taken from the text of the entry.
• Amount: the amount stated in the entry. For bonds, it is the issuance amount. For shares, it may refer to the share capital represented rather than money raised: in one case, 5,000,000 class B shares representing 50% of the capital, for €50,000. That is why we say «amount stated», not «capital raised».
• Not included because the CNMV does not publish it on this page: ISIN, maturity, interest rate, blockchain network, placement agent or number of investors. Only two entries carry an issuance code (FDX001 and FDX002).
• CSV columns (in Spanish): fecha_registro_cnmv (CNMV entry date), erir, emisor (issuer), instrumento (obligaciones = bonds, acciones = shares), instrumento_literal (wording in the entry), importe_eur (amount in euros), isin_o_codigo (ISIN or issuance code, only when published), fecha_inscripcion_registro_mercantil (Commercial Registry date), texto_cnmv (verbatim entry, in Spanish), fuente_url (source page) and fecha_consulta (retrieval date).
• Reuse: the CSV is published under CC BY 4.0. Please cite «HokenFi, based on the CNMV register». We re-extract the full CNMV list and update the verification date at each review.

What this register is

When a transferable security is represented on distributed ledger technology, Spain’s Securities Markets and Investment Services Act (Law 6/2023) requires a responsible entity to record and keep the register: the ERIR, set out in Article 8 and developed by Royal Decree 814/2023. The listing of these entities in the CNMV official register follows Royal Decree 815/2023, which governs the regulator’s official registers; that is why each entry cites its Article 2(b). The two are separate pieces: Royal Decree 814 defines the role; Royal Decree 815 sets up the register where it is recorded.

The law requires the ERIR to be an entity authorised to provide safekeeping and administration of financial instruments (Article 126(a) of Law 6/2023): in practice, credit institutions and investment firms such as broker-dealers and brokers. When the securities are admitted to trading on a trading venue, that responsibility falls on the market infrastructure authorised by the CNMV (Article 8(5)). For the full picture of the role, see what is an ERIR and our overview of security token regulation in Spain.

What does NOT appear in this register

• DLT TSS (DLT trading and settlement system): a market infrastructure under the EU DLT Pilot Regime (Regulation (EU) 2022/858), not an ERIR. Securitize Europe Brokerage and Markets was the first Spanish entity authorised as a DLT TSS (November 2025).
• CASPs (crypto-asset service providers): they operate under MiCA, which excludes financial instruments from its scope. Their register is a different one.

Why it matters to an issuer

The ERIR is what gives a tokenised issuance full legal effect in Spain: it establishes who the holder is, makes the holding enforceable against third parties and keeps a traceable record of transfers. Choosing one is a central decision, alongside the legal qualification of the security token and the prospectus regime. With so few ERIRs registered so far, it pays to confirm availability and timelines at the start of the project, not at the end. For the wider market context, see regulated asset tokenization in Spain in 2026.

How to cite this dataset. You may reuse the data and the CSV with attribution (licence CC BY 4.0): “HokenFi (2026). ERIR-registered issuances in Spain, based on the CNMV register. https://hokenfi.com/en/erir-register-spain/”.

This content is educational. It is not legal, tax or investment advice. Check the current version of each rule on EUR-Lex and the relevant national gazettes.

HokenFi is a software and infrastructure provider; it does not provide regulated services (CASP, investment firm, financial advisor or ERIR). This article is for information only and is not financial or legal advice.