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Daybreak – 13 October 2025
The Cayman Islands Government announces a new task force aimed at an emerging industry — coming up.
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Cayman Compass
From offshore to ‘on chain’: Inside Cayman’s emerging digital economy
When Mike Silagadze shops at Foster’s supermarket, he pays in crypto.
As the CEO of EtherFi, he is able to use the Visa-backed credit card to swipe and sign for his groceries.
“This lets you use it in everyday life. It doesn’t need to be stuck in the digital realm,” he explained, brandishing the sleek indigo card his company has created.
The ability to buy bread with bitcoin is one everyday example of a much bigger story about the evolution of digital assets.
Once seen as a fringe experiment, dismissed by banks and feared by regulators, digital currency is slowly being folded into mainstream finance. And the Cayman Islands, where some old-school retailers still only take cash, is emerging as an unlikely hub for a growing cluster of firms driving that jump from the virtual world to the real one.
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