Minister of Finance, Economic Affairs and the Primary Sector Geoffrey Wever has officially announced a public tender for the development of a FinTech Implementation Plan for Aruba, marking a concrete step in the government’s strategy to modernize the island’s economy and strengthen its position as a competitive digital financial hub in the Caribbean.
The FinTech Implementation Plan for Aruba is part of the broader Landspakket reform program and will be financed by the Netherlands. The initiative aims to diversify Aruba’s economy by creating new opportunities for innovation, investment, and high-level employment, while reducing the island’s reliance on a single economic sector.
Strategic Research and International Collaboration
In 2024, Minister Wever established a strategic partnership with the United Nations Economic Commission for Latin America and the Caribbean (UN-ECLAC) to analyze the potential of FinTech, blockchain technology, and digital currencies for Aruba’s economic future.
On August 12, 2025, the minister received the final report examining the risks, challenges, and opportunities of the FinTech sector, including the impact of blockchain technology and cryptocurrency. The study identified several areas requiring modernization, including:
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Regulations for e-money services
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Data protection frameworks
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Cybersecurity standards
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Digital financial services infrastructure
The report also provided a roadmap for reforms needed to stimulate innovation while maintaining financial stability and consumer protection.
Stakeholder Engagement
During the research phase, UN-ECLAC engaged with multiple organizations and stakeholders across Aruba’s financial and technology sectors. These included the Central Bank of Aruba, the Chamber of Commerce, ATIA, SETAR N.V., the Cybersecurity Center of Excellence, the Insurance Association of Aruba, the Aruba Bankers Association, Digicel, the Department of Telecommunications Affairs, Qredits Aruba, Gamma IT, and other key figures in the FinTech industry.
Their input ensured that the strategy reflects Aruba’s real economic and technological environment while aligning with international best practices.
Implementation Plan and Regulatory Reforms
In November 2025, Aruba’s Parliament received a comprehensive presentation from UN-ECLAC outlining the institutional, legal, and technological conditions required to develop a secure and competitive FinTech sector.
The newly announced tender aims to secure expertise capable of transforming the study’s recommendations into a phased implementation roadmap. The plan will include measures to modernize regulatory frameworks, strengthen institutional capacity, and create clear procedures for innovation and market access in the FinTech sector.
Key elements of the plan include:
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Developing modern regulations for electronic transactions, digital signatures, and e-money
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Aligning financial legislation with international standards such as UNCITRAL
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Strengthening supervisory capacity to manage emerging technologies such as artificial intelligence and blockchain
The plan will also explore the creation of a “regulatory sandbox,” allowing innovative companies to test new financial technologies in a controlled and supervised environment.
Building a New Economic Pillar
Minister Wever emphasized that the initiative represents an important step in transforming Aruba’s economic vision into concrete results.
According to the minister, the FinTech implementation plan will help create a new economic pillar for Aruba by generating high-quality employment opportunities, encouraging technological innovation, and promoting export-oriented economic growth. By managing digital transformation responsibly, Aruba aims to position itself as a modern financial services hub within the Caribbean region.
Tender Process and Timeline
The public tender will follow Aruba’s Comptabiliteitsverordening regulations for government procurement.
The project is expected to run from April 2026 to October 2026.
Interested parties can submit questions until March 6, 2026, while the deadline for submitting proposals is March 20, 2026. The full Terms of Reference can be requested from project leader Bryan Lenzinger at b.lenzinger@deaci.aw.
The government states that this initiative represents another concrete step toward building a diversified, innovative, and digitally connected economy, ensuring that Aruba remains globally competitive while creating new opportunities for entrepreneurship, financial inclusion, and sustainable economic development.
