Valour, a prominent issuer of crypto funds, has joined forces with the Nairobi Securities Exchange (NSE) and SovFi to introduce exchange-traded products (ETPs) for digital assets in Kenya.

This strategic collaboration signifies a significant milestone, potentially heralding the introduction of Bitcoin, Ether, Solana, and Hedera ETPs as groundbreaking offerings on the NSE.

As part of the agreement, Valour is set to “passport” its ETPs to the NSE, drawing on its expertise in developing innovative investment products while adhering to regulatory standards.

Olivier Roussy Newton, the CEO of Valour’s parent company, DeFi Technologies, expressed unwavering confidence in providing secure and regulated exposure to digital assets for the investor community in Kenya.

In a statement, Olivier Roussy Newton highlighted the transformative impact of passporting Valour’s ETPs to the NSE, emphasising the potential to expand the company’s product offerings and create new avenues for both local and international investors.

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The move reflects Valour’s commitment to facilitating the creation, issuance, and trading of digital asset ETPs, thereby carving out new investment opportunities within the Kenyan market.

This development unfolds against the backdrop of Kenya’s ongoing endeavours to navigate the regulatory landscape surrounding digital assets.

With the process commencing in November 2022 and progressing towards the formulation of standalone legislation with inputs from the Blockchain Association of Kenya, the country has been actively charting its course in this evolving field.

Furthermore, Kenya has exhibited a rapidly growing interest in Web3 technologies, exemplified by its partnership with the Venom Foundation to establish a dedicated blockchain and Web3 hub in Africa.

This strategic initiative underscores the country’s aspirations to embrace and harness the potential of blockchain and Web3 technologies for future growth and innovation.

Despite initial resistance, the Kenyan government has showcased evolving attitudes towards digital innovations. This evolution is evidenced by the government’s acceptance of Worldcoin, a contentious project supported by Sam Altman, following its suspension in August 2023.

The approval of Worldcoin’s reentry into the country by the Kenyan National Police Service in June signals a shifting perspective on digital innovations within Kenya.

Valour’s entry into the Kenyan market aligns with the broader trends of digital asset adoption and regulatory advancements across Africa, positioning the NSE as a potential focal point for digital asset investments in the region.

The introduction of digital asset ETPs on the NSE represents a pivotal step in Kenya’s journey towards embracing cryptocurrency and blockchain technology, emphasising the country’s willingness to explore new frontiers in the evolving digital asset landscape.

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As the NSE prepares to welcome Valour’s digital asset ETPs, it is clear that the traditional financial sector in Kenya is beginning to recognise the potential benefits of incorporating blockchain technology and cryptocurrencies into their offerings.

This move also highlights the growing interest in digital assets among Kenyan investors, who are eager to diversify their portfolios and explore new investment opportunities in this rapidly evolving market.

With the NSE leading the way in embracing digital assets, it is likely that other African countries will soon follow suit, further solidifying the region’s position as a key player in the global digital asset ecosystem.