- Valour partners with NSE and SovFi to launch Bitcoin, Ether, Solana, and Hedera ETPs.
- The ETPs will be passported to NSE, marking Kenya’s first digital asset products.
- Kenya’s regulatory framework for digital assets is evolving, supporting new innovations.
Crypto fund issuer Valour is set to expand its reach beyond Europe with a significant move into the Kenyan market. The company has signed a memorandum of understanding with the Nairobi Securities Exchange (NSE) and SovFi to issue and trade digital asset exchange-traded products (ETPs) in Kenya.
This strategic expansion will introduce Bitcoin (BTC), Solana (SOL), Ethereum (ETH), and Hedera (HBAR) ETPs to the NSE, marking a milestone as these offerings could be the first digital asset products on the exchange.
Valour pioneering digital asset offerings in Kenya
Valour’s entry into the Kenyan market represents a major development in the region’s financial landscape.
The ETPs, including those for Bitcoin, Ether, Solana, and Hedera, will be “passported” to the NSE, leveraging the expertise of Valour’s parent company, DeFi Technologies.
DeFi Technologies, based in Canada, has previously demonstrated its innovation in issuing ETPs across European exchanges. It launched a validator node on the Core Chain in June after Valour and Core partnered to issue Valour Bitcoin Staking ETP on the Nordic Growth Market exchange.
Currently, Valour issues 33 ETPs on European exchanges including the recently launched Near Protocol (NEAR) ETP on the Swedish Spotlight Stock Market.
Olivier Roussy Newton, CEO of DeFi Technologies, emphasized the goal of providing secure and regulated exposure to digital assets for investors through this new venture.
Kenya’s evolving digital asset regulation
Kenya’s regulatory environment for digital assets has been evolving since November 2022, when the country began formal regulation of these financial instruments.
A multi-agency government working group is actively developing a comprehensive regulatory framework, with the Blockchain Association of Kenya contributing to the process.
This regulatory development comes amid growing interest in Web3 technologies and recent partnerships, such as the one with Abu Dhabi’s Venom Foundation to launch a blockchain and Web3 hub.
Valour’s move aligns with Kenya’s progressive stance on digital assets, enhancing the country’s growing digital asset ecosystem.