Crypto fund issuer Valour expands beyond Europe, targets 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.

Crypto fund issuer Valour is expanding its operations beyond Europe with a notable entry into the Kenyan market. The company has signed a memorandum of understanding (MoU) with the Nairobi Securities Exchange (NSE) and SovFi to enable the issuance and trading of digital asset exchange-traded products (ETPs) in Kenya.

This strategic move will introduce Bitcoin (BTC), Solana (SOL), Ethereum (ETH), and Hedera (HBAR) ETPs on the NSE, potentially becoming the first digital asset products to be listed on the exchange.

Valour spearheads digital asset offerings in Kenya

The entry of Valour into the Kenyan market marks a significant development in the region's financial landscape.

The ETPs, covering Bitcoin, Ether, Solana, and Hedera, will be "passported" to the NSE, utilizing the expertise of Valour's parent company, DeFi Technologies.

DeFi Technologies, headquartered in Canada, has already demonstrated its innovation in issuing ETPs on European exchanges. The company launched a validator node on the Core Chain in June after Valour and Core partnered to list the Valour Bitcoin Staking ETP on the Nordic Growth Market exchange.

To date, Valour has listed 33 ETPs on European exchanges, including the recent launch of the Near Protocol (NEAR) ETP on the Swedish Spotlight Stock Market.

Olivier Roussy Newton, CEO of DeFi Technologies, highlighted the aim of providing investors with secure and regulated exposure to digital assets through this new undertaking.

Kenya's evolving digital asset regulation

Kenya's regulatory landscape for digital assets has been evolving since November 2022, when the country commenced formal regulation of these financial instruments.

A multi-agency government working group is engaged in developing a comprehensive regulatory framework, with the Blockchain Association of Kenya participating in the process.

This regulatory development occurs amidst growing interest in Web3 technologies and recent partnerships, including one with Abu Dhabi's Venom Foundation to launch a blockchain and Web3 hub.

Valour's entry aligns with Kenya's progressive approach to digital assets, further enhancing the country's burgeoning digital asset ecosystem.

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