Core

Hedera

Venom

Foundation

Crypto fund issuer Valour has signed a memorandum of understanding with the Nairobi Securities Exchange (NSE) and financial instrument issuance platform SovFi on issuing and trading digital asset exchange-traded products (ETPs) on the NSE in Kenya.&nbsp;
Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>), Ether (<a href="https://cointelegraph.com/ethereum-price">ETH</a>), Solana (<a href="https://cointelegraph.com/solana-price-index">SOL</a>) and Hedera (<a href="https://cointelegraph.com/hedera-hbar-price-index">HBAR</a>) ETPs from Valour and affiliated companies may be the first digital asset offerings on the NSE. The ETPs will be “<a href="https://www.prnewswire.com/news-releases/defi-technologies-subsidiary-valour-inc-announces-landmark-mou-with-nairobi-securities-exchange-and-sovfi-to-develop-and-launch-valour-etps-in-africa-302215131.html" target="_blank" rel="noopener nofollow">passported</a>” to the NSE, according to an announcement. 
<h2 id="valour-taking-digital-asset-derivatives-to-new-markets">Valour taking digital asset derivatives to new markets</h2>
In the European Economic Area, “passporting” allows registration in one member state to be recognized throughout the area. Olivier Roussy Newton, CEO of Valour’s parent company DeFi Technologies, said:
<blockquote>
 “By leveraging our expertise in issuing innovative ETPs and facilitating the passporting of our financial instruments to the NSE, we aim to provide investors with secure and regulated exposure to the dynamic world of digital assets.”
</blockquote>
Related: <a href="https://cointelegraph.com/news/share-crypto-startups-asia-africa-increase-usa-falls">Asia, Africa see rise in share of crypto startups this year, says accelerator</a>
DeFi Technologies is a Canada-based company traded on CBOE Canada. In June, it <a href="https://cointelegraph.com/news/defi-technologies-core-chain-validator-100m-bitcoin-stake">launched a validator node</a> on the Core Chain after Core and Valour partnered to create the Valour Bitcoin Staking ETP on the Nordic Growth Market exchange.
Valour issues 33 ETPs on European exchanges. It <a href="https://cointelegraph.com/news/valour-launches-etp-near-protocol-native-token">launched the first Near Protocol</a> (<a href="https://cointelegraph.com/near-protocol-price-index">NEAR</a>) ETP on the Swedish Spotlight Stock Market in July.
<figure>
 <img src="https://s3.cointelegraph.com/uploads/2024-08/7cff6c2f-09c0-4c53-a6a3-aecee98c9ba0.png" alt="Valour to launch digital asset ETPs in Kenya" title="">
 <figcaption style="text-align: center;">
 Some of the ETPs offered by Valour. Source: Valour
 </figcaption>
</figure>
<h3 id="crypto-gradually-emerging-in-kenya">Crypto gradually emerging in Kenya</h3>
Kenya began the process of <a href="https://cointelegraph.com/news/kenyan-legislation-establishes-crypto-taxation-creates-consumer-protections">regulating digital assets</a> in November 2022. The drafting of standalone legislation <a href="https://cointelegraph.com/news/kenyan-lawmakers-blockchain-association-crypto-bill">began a year later</a>, with the participation of the Blockchain Association of Kenya. As of April, a multiagency government working group was <a href="https://ntvkenya.co.ke/news/kenya-moves-to-regulate-cryptocurrencies-digital-assets/" target="_blank" rel="noopener nofollow">developing</a> a framework for monitoring and regulating cryptocurrencies and digital assets.
<figure>
 <img src="https://s3.cointelegraph.com/uploads/2024-08/1e8ce781-ac65-4f8f-9241-efe3436ba66b.png" alt="Valour to launch digital asset ETPs in Kenya" title="">
 <figcaption style="text-align: center;">
 Source: <a href="https://x.com/NSE_PLC/status/1820825968245977195" target="_blank" rel="noopener nofollow">Nairobi Securities Exchange</a>
 </figcaption>
</figure>
Interest in Web3 is high in Kenya. In May 2023, the Kenyan government <a href="https://cointelegraph.com/news/kenya-partners-with-abu-dhabi-s-venom-foundation-to-build-blockchain-web3-hub">partnered with Abu Dhabi-based</a> blockchain platform Venom Foundation to launch a blockchain and Web3 hub in Africa.
Kenya <a href="https://cointelegraph.com/news/worldcoin-kenya-suspends-local-activities-of-worldcoin">resisted the introduction</a> of Worldcoin, suspending the Sam Altman-backed project in August 2023, just days after its official launch. The Kenyan National Police Service finally <a href="https://cointelegraph.com/news/kenyan-police-drops-worldcoin-probe">let Worldcoin back into</a> the country in June.
Magazine: <a href="https://cointelegraph.com/magazine/south-africa-digital-nomad-friendly-crypto-hub-cape-town-crypto-city-guide/">South Africa’s digital-nomad crypto hub: Cape Town, Crypto City Guide</a>

Valour to launch digital asset ETPs in Kenya

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Cointelegraph

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