Valour is partnering with NSE and SovFi to launch Bitcoin, Ether, Solana and Hedera ETPs. The ETPs will be passported to the NSE and will be Kenya's first digital asset products. Kenya's regulatory framework for digital assets is evolving and supports new innovation.
Cryptocurrency fund issuer Valour plans to expand its reach beyond Europe with a major push into the Kenyan market. The firm 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.
The strategic expansion marks a milestone as it will see the introduction of Bitcoin (BTC), Solana (SOL), Ethereum (ETH) and Hedera (HBAR) ETPs on the NSE, potentially making these products the exchange’s first digital asset products.
Valour Leads Digital Asset Offering in Kenya
Valour’s entry into the Kenyan market marks a major development in the region’s financial landscape.
ETPs such as Bitcoin, Ether, Solana, and Hedera are set to be “passported” to the NSE, leveraging the expertise of Valour's parent company, DeFi Technologies.
Canada-based DeFi Technologies has previously been an innovator issuing ETPs on European exchanges. The company launched a validator node on Core Chain in June after Valour partnered with Core to issue the Valour Bitcoin Staking ETP on the Nordic Growth Market exchange.
Valour currently has 33 ETPs issued on European exchanges, including the recently launched Near Protocol (NEAR) ETP on Sweden's Spotlight stock market.
DeFi Technologies CEO Olivier Roussy-Newton emphasized the goal of providing investors with safe and regulated exposure to digital assets through the new venture.
Kenya's Evolving Digital Asset Regulation
Kenya's regulatory environment regarding digital assets continues to evolve since November 2022, when the country began formally regulating these financial products.
A multi-agency working group is actively developing a comprehensive regulatory framework, with the Kenya Blockchain Association also contributing to the process.
The regulatory development comes amid growing interest in Web3 technologies and recent partnerships such as a partnership with Abu Dhabi's Venom Foundation to launch a Blockchain and Web3 Hub.
Valour’s move is in line with Kenya’s progressive stance on digital assets and strengthens the country’s growing digital asset ecosystem.
