Peer to peer lending is a relatively new concept in Uruguay, but
its growth has prompted the first signs of a regulatory
framework.
Like other countries in South America, Uruguay has seen a spurt
in peer to peer lending over the past five years, as entrepreneurs
developed this type of non-traditional platform, and new players
came into the market. It has offered different investment options,
rates of return, business models and a wide variety of assets to
invest in.
As this type of business consolidates and becomes more popular,
its growth is hand-in-hand with the evolution of specific
regulations for this type of application.
Now, the Central Bank of Uruguay has begun exploratory work for
future regulations, aimed at establishing financial transparency
and a clear means of identifying who is behind the lender and the
borrower.
