Cayman Islands Thrives as Web3 Foundation Company Registrations Surge

The Cayman Islands is experiencing a boom in foundation company registrations, driven largely by the booming world of decentralized autonomous organizations (DAOs). According to Cointelegraph, registrations have increased by 70% year-over-year, with over 1,300 companies registered already. This trend is expected to continue as more projects seek legal frameworks for their DAOs. These foundation companies provide a critical structure for DAOs and serve as key elements in managing the assets of major Web3 ventures.