A leading issuer of crypto funds, Valour, has partnered with the Nairobi Securities Exchange (NSE) and SovFi to launch digital asset exchange-traded products (ETPs) in Kenya. This move will introduce Bitcoin, Ether, Solana, and Hedera ETPs as potential firsts on the NSE.
Under the agreement, Valour plans to “passport” its ETPs to the NSE, leveraging its expertise in creating innovative investment products while ensuring regulatory compliance.
Olivier Roussy Newton, CEO of Valour’s parent company DeFi Technologies, expressed confidence in providing secure and regulated exposure to digital assets for investors in Kenya.
Olivier Roussy Newton, said, “The passporting of Valour’s ETPs to the NSE will significantly enhance our product offerings. By facilitating the creation, issuance, and trading of digital asset ETPs we are opening new avenues for both local and international investors.”
This development comes as Kenya continues to navigate the regulatory landscape of digital assets, starting the process in November 2022 and moving towards standalone legislation with input from the Blockchain Association of Kenya.
Recently, a government working group has been actively developing frameworks for monitoring and regulating cryptocurrencies and digital assets. Kenya has shown a growing interest in Web3 technologies, exemplified by a partnership with the Venom Foundation to establish a blockchain and Web3 hub in Africa.
Despite initial resistance, the Kenyan government eventually allowed the entry of Worldcoin, a controversial project backed by Sam Altman, signaling evolving attitudes toward digital innovations.
Valour’s expansion into Kenya reflects broader trends of digital asset adoption and regulatory advancements across Africa, positioning the NSE as a potential hub for digital asset investments in the region.
Valour’s move to introduce digital asset ETPs on the NSE marks a significant step in Kenya’s journey towards embracing cryptocurrency and blockchain technology.
