Canadian Blockchain Firm Defi Technologies Inc. has collaborated with Nairobi Securities Exchange (NSE) to develop Kenya Digital Exchange (KDX), a platform for tokenization Real assets (Rwas).
KDX will tokenize a variety of assets, from liabilities and shares to raw materials and means. Partners mentioned that it will also offer a platform for issue and trading in these assets.
Valor Inc., The Exchange-Traded Product (ETP) issue and asset management daughter company to Defi Tech and Sovfi Inc., a tokenization Platform, is also involved in the initiative.
“This partnership represents a transformative step in expanding digital asset infrastructure across Africa. By collaborating with NSE, we will provide investors with new asset classes, drive economic growth and position Kenya as a leading financial hub in Africa,” commented Defi Tech Olivier Roussy Newton.
This is not the first time NSE collaborates with Valor and Sovfi. Last August, the three announced A new initiative according to which the two companies would issue ETPs for digital access in Kenya. Valor stated that it would use licenses obtained in other jurisdictions to transfer its products to the Kenyan stock exchange.
While Kenya is one of Africa’s three largest digital asset markets together Nigeria and South Africamost of the activity has been concentrated on speculative trade and cross -border transfers. ETPS and tokenized assets have not yet hit the land in the East African nation, but the new partnership can accelerate growth for the sector.
“This partnership marks a bold and strategic leap towards the future of African capital markets,” commented Frank Mwiti, NSE’s CEO.
“By collaborating with Defi Technologies and Sovfi to design and launch KDX, we lay the foundation for a dynamic digital market that will unlock new investment opportunities, deepen market access and position Kenya as a trailblazer in tokenization and trade in real assets all over the continent.”
The four partners are aimed at a Q4 launch for the first phase of KDX, focusing on primary market publishing and other aid issues, such as onboard users and legislation. In subsequent stages they will introduce Artificial intelligence (AI) help, secondary markets, market -creating and interoperability with other exchanges globally.
KDX is a massive leap for Kenya’s emerging blockchain sector. Even in advanced economies, RWA tokens remain emerging, with most of the activity limited to pilots and a handful of institutional actors.
In Hong Kong, for example, HSBC (Nasdaq: HSBC) has been the dominant player Through its Orion platform, with Bank of China (BOC) and Animoca brands among the other major participants. In Singapore, Centralbankens Project guard Has stimulated innovation in the sector, but the development has still been limited to major players such as DBS Bank, Standard Chartered and JPMorgan (Nasdaq: JPM).
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