BVPASA’s future: regional integration, innovation, and sustainability
BVPASA’s future: regional integration, innovation, and sustainability
BVPASA aims to become a regional connector between Paraguay and other Latin American exchanges. It is developing interoperable technology, harmonized regulatory standards, and partnerships with neighboring markets such as Argentina, Bolivia, and Peru.
The exchange is also committed to expanding the sustainable bond market, exploring asset tokenization, and widening SME and fintech access to capital. Financial inclusion, social impact, and transparency remain central to its institutional vision.
A dynamic, digital, development-focused exchange
With over 45 years of history, BVPASA is evolving into a modern, resilient exchange with the adaptability needed in today’s global financial environment. Its next phase will be crucial in positioning Paraguay as a competitive and sustainable investment destination.
2024: Pilot social bonds and thematic issuances
2025: Blockchain custody and full digitalization
2026: Regional platform for integrated trading
2027: Inclusion of cooperatives and fintech issuers
Future: A green, open, and regional Paraguayan exchange
The history of BVPASA reflects Paraguay’s efforts to build a modern, accessible capital market aligned with global best practices.
The history of the Bolsa de Asuncion is intertwined with Paraguay’s economic journey, reflecting local challenges and milestones that have driven its ongoing transformation.
Digital transformation, new instruments, and financial education
Digital transformation, new instruments, and financial education
In recent years, BVPASA has undergone a complete technological upgrade. Electronic trading platforms, online information systems, and automated clearing processes have boosted efficiency and reduced operational risks.
The product portfolio has expanded to include subordinated bonds, trusts, mutual funds, marketable certificates, and securitized assets. The exchange is also laying the groundwork for thematic issuances like green and social bonds.
Market culture and public participation
BVPASA has developed educational programs to promote financial literacy through partnerships with universities, business associations, and multilateral organizations. Investment fairs, training workshops, and simulators have increased retail participation in the market.
2014: Launch of electronic trading platform
2017: First listed financial trust
2019: Financial education in schools and universities
2022: ESG product roadmap introduced
2023: Fintech partnerships for digital issuance
These developments have strengthened Paraguay’s capital market ecosystem, positioning BVPASA as a credible alternative for corporate financing.
Founding, early operations, and legal consolidation
Founding, early operations, and legal consolidation
BVPASA was legally established in 1977, but formal trading began in 1993 after specific regulations were approved to govern Paraguay’s stock market. This delay was due to the need for a legal framework and sufficient training for financial system participants.
In its early years, the exchange focused on fixed-income securities, such as corporate bonds, savings deposit certificates, and financial promissory notes. The participation of banks, finance companies, and cooperatives was key to its initial growth.
Regulatory framework and supervision
The market is regulated by the Comisión Nacional de Valores (CNV), created under Law 1284/98. This law defined requirements for issuers, brokers, trustees, and rating agencies—establishing principles of transparency, solvency, and investor protection.
1977: BVPASA legally founded
1993: Formal trading operations begin
1998: CNV created as the regulatory body
2000s: First private debt issuances
2010s: Institutional investor base solidifies
This framework helped Paraguay develop a functional exchange that supports domestic savings and channels investment into the productive sector.
Last Update
31.3.25
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THE HISTORY OF THE ASUNCIÓN STOCK EXCHANGE
The Bolsa de Valores y Productos de Asunción (BVPASA) has played a key role in formalizing Paraguay’s capital markets. From humble beginnings to digital transformation and product expansion, the BVPASA reflects Paraguay’s growing economy and its transition toward a stronger, more connected financial system.