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Cayman Islands

No Open Banking

A major offshore financial centre in the western Caribbean Sea.

According to Kepios, 81% of the population of the Cayman Islands had access to the Internet at the beginning of 2022.

The Cayman Islands is a British Overseas Territory. Crown Dependencies and British Overseas Territories do not come under the Competition and Markets Authority (CMA) order; therefore, the Open Banking Implementation Entity (OBIE) does not have any mandate or remit over them. However, the UK Open Banking Standard is completely open for anyone to use. OBIE has also built a separate domain for Crown Dependencies within the commercial Tech Directory onboarding platform.

More than 130 Fintechs operate from within Cayman Enterprise City – a special economic zone providing cost-effective solutions for establishing Fintech businesses – with more than 30% involved in blockchain-based business development activities.