Valor Expands into Kenyan Market with Digital Asset ETPs
Valor, a cryptocurrency fund issuer, is venturing into the Kenyan market in a move to expand its operations beyond Europe. The company has forged a partnership with the Nairobi Stock Exchange (NSE) and SovFi to introduce and trade digital asset exchange-traded products (ETPs) in Kenya.
This strategic expansion will see the introduction of ETPs for Bitcoin (BTC), Solana (SOL), Ethereum (ETH), and Hedera (HBAR) on the NSE, making them potentially the first digital assets available on the exchange.
Valor’s Pioneering Efforts in Kenya
Valor’s entry into the Kenyan market signifies a significant milestone in the region’s financial landscape. Leveraging the expertise of its parent company, DeFi Technologies, the ETPs for Bitcoin, Ethereum, Solana, and Hedera will “passport” to the NSE.
DeFi Technologies, based in Canada, has a track record of innovation in issuing ETPs on European exchanges. The company recently collaborated with Core to launch the Valor Bitcoin Staking ETP on the Nordic Growth Markets exchange.
With 33 ETPs already issued on European exchanges, including the Near Agreement (NEAR) ETP on the Swedish Spotlight stock market, Valor is poised to offer investors safe and regulated digital asset investments through its latest venture.
Regulatory Evolution of Digital Assets in Kenya
Kenya’s digital asset regulatory environment has been evolving since formal regulations came into effect in November 2022. A multi-agency government working group is actively crafting a comprehensive regulatory framework, with contributions from the Kenya Blockchain Association.
This regulatory progress aligns with the increasing interest in Web3 technology and recent collaborations such as the launch of the Blockchain and Web3 Hub with Abu Dhabi’s Venom Foundation. Valor’s expansion into Kenya reflects the country’s forward-thinking approach to digital assets, further enriching its digital asset ecosystem.
