In a groundbreaking move that positions Kenya at the forefront of Africa’s digital asset landscape, crypto fund issuer Valour has inked a strategic partnership with the Nairobi Securities Exchange (NSE) and financial instrument platform SovFi. The collaboration aims to introduce digital asset exchange-traded products (ETPs) to Kenyan investors.
Bitcoin, Ethereum, Solana, and Hedera ETPs from Valour and its affiliates are set to be the inaugural digital asset offerings on the NSE. This development marks a significant milestone for both Kenya and the broader African continent as it embraces the burgeoning digital asset ecosystem.
Valour, renowned for its expertise in issuing innovative ETPs, will leverage its capabilities to facilitate the “passporting” of these financial instruments to the NSE. This process, commonly employed within the European Economic Area, enables products registered in one member state to be recognized across the region.
Olivier Roussy Newton, CEO of Valour’s parent company DeFi Technologies, expressed enthusiasm about the partnership. “By combining our ETP issuance expertise with the NSE’s platform, we aim to provide investors with secure and regulated access to the dynamic world of digital assets,” he stated.
Kenya’s proactive stance towards regulating the digital asset industry has been instrumental in creating a conducive environment for such developments. The country initiated the process of regulating digital assets in November 2022 and has since been actively working on a comprehensive regulatory framework.
Also Read: Worldcoin Cleared In Kenya: 10 Million Users Strong After Privacy Probe
While Kenya’s journey into the world of crypto has had its challenges, including a temporary ban on Worldcoin, the government’s commitment to fostering innovation and responsible growth is evident. The partnership with Valour and the NSE is a testament to this forward-thinking approach.
As Kenya paves the way for digital asset trading, it is poised to become a regional hub for crypto investment and innovation. This move is expected to attract global attention and stimulate economic growth within the country.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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