Isle of Man pioneers a new data-as-asset framework

Digital Isle of Man and EDM Council have announced a partnership to launch the Isle of Man's Data Asset Foundation (DAF) framework, aimed at establishing a new market in which data can be formally treated as a capital asset.

The partnership aims to help businesses unlock additional value from their data resources by enabling them to list data on balance sheets, utilise it as collateral, and incorporate it into their mergers and acquisitions strategies. The DAF framework integrates the Isle of Man Foundation Act to provide strong governance, regulatory oversight, and transparency, allowing organisations to securely pool and manage data within a clearly defined legal environment.

According to the Digital Isle of Man, the framework is designed to create an environment that facilitates secure and transparent data usage, encouraging innovation across sectors. Data can now be managed similarly to other assets, such as intellectual property or financial instruments, establishing new protocols for data stewardship, control, and monetisation.

Defining a new standard

Lyle Wraxall, Chief Executive of the Digital Isle of Man, outlined the significance of establishing the Isle of Man as a leader in developing such frameworks.

"Our partnership with EDM Council marks a bold step forward in creating an entirely new market. We're not adapting to a global standard – we're defining it. By establishing the legal and operational foundations for data as an asset class, the Isle of Man is building a trusted environment for innovation, investment and leadership in the data economy."

He continued, "This isn't just about protecting data, but about reshaping how the world sees and uses it. The Isle of Man is not stepping into an existing market – we are creating a new one. Through this initiative, we are defining what trustworthy, transparent and economically valuable data stewardship looks like. This is a world-first, and we're proud to lead it from the Isle of Man."

The collaboration provides the Isle of Man with access to EDM Council's networks, expertise, and data management tools, which are expected to support the island in pursuing a data-driven economic vision. EDM Council brings experience in helping organisations advance best practices in data management and analytics, and its standards-based approach forms part of the DAF operational foundation.

John Bottega, President of EDM Council, highlighted the importance of the partnership for responsible and commercially relevant data management. He said, "Managing data as an asset and defining its financial value are key to driving better business outcomes in our data-driven world. EDM Council's collaboration with the Isle of Man will help pioneer a trusted, transparent data economy. This partnership sets a new precedent in how data can be responsibly governed and commercially leveraged."

Strategic priorities

The Isle of Man Government describes the DAF initiative as a core element of its digital economic growth strategy. The framework is designed to encourage inward investment, facilitate innovation in financial services, and provide new opportunities for international collaboration. The government believes that the move strengthens the island's profile as a digitally enabled economy on the global stage.

There are several practical applications that the authorities expect will benefit from the DAF structure. Examples include enabling anonymised healthcare research, enhancing industrial data sharing to support more efficient manufacturing, and supporting sustainability projects in line with the Isle of Man's UNESCO Biosphere status. Each foundation will be required to embed a legal charter, a data governance structure, and set standards for use, aiming to deliver trust, clarity, and value to stakeholders.

Next steps

Digital Isle of Man is finalising the DAF's legal framework before presenting it to the island's parliament for consideration. In parallel, the agency plans to commence onboarding pilot foundations and work with key sectors, including finance, technology, and public services.

Officials have indicated that international entities are encouraged to collaborate as the initiative develops further. Legal, fiduciary, technology, and compliance professionals are expected to have significant roles in supporting the rollout and execution of the new framework.