1. Fintech Market
1.1 Evolution of the Fintech Market
Government Initiatives
The fintech market in the Cayman Islands has significantly
developed its technology talent pool and its increasingly mature
technology industry is developing and strengthening the financial
services industry of the Cayman Islands. The Cayman Islands is the
leading offshore jurisdiction for investment funds, one of the top
financial centres of the world, as well as a world leader in
structured finance, and its government has been positive about
encouraging fintech in the financial services industry. It has been
a busy year for the Cayman Islands government, which implemented
various initiatives including the Virtual Assets (Services
Providers) Act (the "VASP Act") on 31 October 2020
following recommendations of the Financial Action Task Force, and
introduced a Global Citizens programme to encourage digital nomads
to work remotely in the Cayman Islands, while continuing to
encourage