asiento

An "asiento" was an official license issued by the Spanish crown between the 16th and 18th centuries, granting a Portuguese or other foreign merchant the right to participate in the transatlantic slave trade. Essentially, it was a government-approved permit that allowed specific individuals or companies to import enslaved Africans to Spanish territories. The asiento system was part of broader economic and colonial policies, regulating and monopolizing the trade, and generating revenue for Spain through licensing fees. It played a significant role in the history of the transatlantic slave trade and European colonial expansion.