Valour, a leading issuer of crypto funds, is expanding its reach to Africa through a partnership with the Nairobi Securities Exchange (NSE) and SovFi. This collaboration aims to introduce digital asset exchange-traded products (ETPs) on the NSE, providing Kenyan investors with secure and regulated exposure to cryptocurrencies like Bitcoin, Ether, Solana, and Hedera.
Under this agreement, Valour plans to “passport” its ETPs to the NSE, utilizing its expertise in creating innovative investment products while ensuring compliance with regulatory standards. This move is expected to enhance Valour’s product offerings, facilitating the creation, issuance, and trading of digital asset ETPs, thus opening new investment avenues for both local and international investors.
Kenya has been gradually moving towards regulating digital assets since November 2022, with ongoing efforts to draft standalone legislation involving the Blockchain Association of Kenya. A government working group is actively developing frameworks for monitoring and regulating cryptocurrencies and digital assets. Kenya’s interest in Web3 technologies is evident from its partnership with the Venom Foundation to establish a blockchain and Web3 hub in Africa.
Despite initial resistance, the Kenyan government allowed the re-entry of Worldcoin, a project backed by Sam Altman, indicating a more receptive attitude towards digital innovations. Valour’s expansion into Kenya mirrors 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 initiative to launch digital asset ETPs on the NSE marks a significant milestone in Kenya’s journey towards embracing cryptocurrency and blockchain technology, paving the way for increased digital asset investments in Africa.
