Valor in Kenya to issue digital asset ETPs as it expands beyond Europe
Valor has partnered with NSE and SovFi to launch Bitcoin, Ether, Solana and Hedera ETPs. ETPs will be sent to the NSE Passport, which is Kenya's first digital asset trading token. Kenya's regulatory framework for digital assets is evolving, supporting innovation.
Crypto fund provider Valor is set to expand its reach beyond Europe with a major move into the Kenyan market. The company has signed a memorandum of understanding with the Nairobi Securities Exchange (NSE) and SofFi to issue and trade Digital Asset Exchange Traded Products (ETPs) in Kenya.
This strategic expansion will introduce Bitcoin (BTC), Solana (SOL), Ethereum (ETH), and Hedera (HBAR) ETPs to the NSE, marking a milestone as these offerings may be the first digital asset products on the exchange.
Valor pioneers digital asset offerings in Kenya
Valor's entry into the Kenyan market represents a major development in the region's financial landscape.
ETPs, including Bitcoin, Ether, Solana and Hedera, will be “passported” to the NSE using the expertise of Valor's parent company, DeFi Technology.
Canada-based Defy Technologies has already demonstrated its innovation by issuing ETPs on exchanges across Europe. After offering the Valor Bitcoin Staking ETP on the Nordic Development Market Exchange, Valor and Core partnered and launched a validation node on the Core chain.
Currently, Valor has issued 33 ETPs on European exchanges, including the recently launched protocol (NEAR) ETP on the Swedish Spotlight Market.
Olivier Rousey-Newton, CEO of Defy Technologies, emphasized the goal of providing investors with secure and regulated digital assets in this new venture.
Kenya digital asset control
Kenya's regulatory environment for digital assets has been evolving since November 2022, when the country began formalizing the regulation of these financial instruments.
A multi-agency government working group is actively developing a comprehensive regulatory framework with the Kenya Blockchain Association contributing to the process.
This regulatory development comes amid growing interest in Web3 technologies and recent partnerships, such as with Abu Dhabi's Venom Foundation to launch a blockchain and Web3 hub.
Value's move is in line with Kenya's progressive stance on digital assets and will enhance the country's growing digital asset ecosystem.
