Crypto fund issuer Valour is set to expand beyond Europe, bringing its digital asset exchange-traded products (ETPs) to Kenya. This move marks a significant step in the company’s global strategy to make digital assets more accessible.
In a recent announcement, Valour signed a memorandum of understanding with the Nairobi Securities Exchange (NSE) and SovFi, a financial instrument issuance platform.
This agreement aims to facilitate the issuing and trading digital asset ETPs on the NSE. The initial offerings may include Bitcoin (BTC), Ether (ETH), Solana (SOL), and Hedera (HBAR) ETPs.
The concept of “passporting,” which allows financial products registered in one jurisdiction to be recognized in another, is key to this initiative.
Olivier Roussy Newton, CEO of Valour’s parent company DeFi Technologies, emphasized their goal to provide secure and regulated access to digital assets for Kenyan investors.
Valour, which already issues 33 ETPs on European exchanges, is leveraging its expertise to enter the African market.
This move aligns with the broader trend of rising interest in digital assets and blockchain technology across Africa. In Kenya, efforts to regulate digital assets began in late 2022, with significant progress made in drafting legislation and developing a regulatory framework.
Kenya has shown a growing interest in Web3 and blockchain technologies.
In May 2023, the Kenyan government collaborated with Abu Dhabi-based Venom Foundation to establish a blockchain and Web3 hub in Africa. Despite some resistance to projects like Worldcoin, Kenya’s engagement with digital innovation remains strong.
