Cayman-based governance firm Marfire is marking five years in business as it points to increased institutional participation and higher governance expectations in the digital asset industry.
Founded in 2021 by Oliver and Kate Bell, Marfire provides governance services to digital asset structures, investment funds and operating companies. The company said its development has coincided with the growth of Cayman foundation companies and broader changes in the global digital asset sector.
Marfire said the industry has shifted over the past five years from early-stage activity toward more complex and institutionally backed structures, accompanied by evolving regulation and increased expectations around accountability, risk management and governance.
“The whole of the digital assets space globally has become more institutional over time, and Cayman has grown with that,” founder Oliver Bell said.
The firm now works with foundation companies, virtual asset service providers, funds and operating companies. Its team has experience in law, finance, tax, funds, compliance and regulation, according to the company.
Kate Bell, Marfire founder and chief financial officer, said attitudes within Cayman’s established financial services industry have also changed. “Initially there was a reluctance from some of the more institutional firms on island to adopt the crypto space,” she said. “Now it feels very much a standard part of the Cayman financial services landscape.”
Marfire said it expects governance standards to continue developing as the digital asset industry matures, with requirements applied to regulated businesses potentially influencing governance practices elsewhere in the sector. The company said it intends to maintain its focus on independent oversight and a hands-on approach to clients as the market evolves.