Blockchain
Valour Partners with NSE to Launch First Crypto ETP in Kenya
A significant milestone in the adoption of cryptocurrency and blockchain technology in Africa is set to unfold as Valour, a leading issuer of crypto funds, partners with the Nairobi Securities Exchange (NSE) and SovFi to introduce digital asset exchange-traded products (ETPs) in Kenya. This initiative will bring Bitcoin, Ether, Solana, and Hedera ETPs to the NSE, marking potential firsts for the Kenyan market.
Partnership Overview
Valour plans to “passport” its ETPs to the NSE, leveraging its expertise in creating innovative investment products while ensuring compliance with local regulations. Olivier Roussy Newton, CEO of Valour’s parent company DeFi Technologies, expressed confidence in this strategic move, stating, “The passporting of Valour’s ETPs to the NSE will significantly enhance our product offerings. By facilitating the creation, issuance, and trading of digital asset ETPs we are opening new avenues for both local and international investors.”
Regulatory and Market Context
Kenya has been actively developing its regulatory framework for digital assets since November 2022. The country is moving towards standalone legislation with input from the Blockchain Association of Kenya. Recently, a government working group has been crafting frameworks for monitoring and regulating cryptocurrencies and digital assets, highlighting Kenya’s growing interest in Web3 technologies. This is further exemplified by a partnership with the Venom Foundation to establish a blockchain and Web3 hub in Africa.
Despite initial resistance, the Kenyan government has shown a willingness to embrace digital innovations, as evidenced by the eventual acceptance of Worldcoin, a controversial project backed by Sam Altman. This evolving attitude towards digital assets and blockchain technology is paving the way for further advancements and adoption within the country.
Implications for the Market
Valour’s move to introduce digital asset ETPs on the NSE signifies a significant step in Kenya’s journey towards embracing cryptocurrency and blockchain technology. This development not only reflects broader trends of digital asset adoption and regulatory advancements across Africa but also positions the NSE as a potential hub for digital asset investments in the region.
As Kenya continues to navigate its regulatory landscape for digital assets, the introduction of Valour’s digital asset ETPs on the NSE represents a crucial advancement in the country’s financial market. This partnership is poised to provide secure and regulated exposure to digital assets for investors, fostering innovation and growth within Kenya’s burgeoning digital economy.
Source: cryptotimes.io
The post Valour Partners with NSE to Launch First Crypto ETP in Kenya appeared first on HIPTHER Alerts.
The European Union’s landmark MiCA regulation is set to transform the crypto industry, establishing stringent standards that many current Virtual Asset Service Providers may find challenging to meet. As MiCA compliance becomes the standard for operating within the European Economic Area, crypto exchanges and asset companies must take prompt action to align their operations with these comprehensive regulations.
To support businesses in navigating this significant transition, an exclusive webinar “Adapt or Die: The Urgent Shift from VASP to MiCA” will be held on Tuesday, November 19th, 2024, at 5:00 PM (CET) time.
This session is designed to provide industry professionals with practical insights and strategies to ensure their software and operations comply with MiCA standards.
Key highlights of the webinar include:
● Detailed analysis of MiCA regulations and their implications for the crypto sector.
● Actionable steps for software adaptation to achieve MiCA compliance.
● Case study feature: How Kyrrex achieved MiCA readiness using solutions from Simplify Labs.
● Practical tools for Anti-Money Laundering, Know Your Customer processes, cybersecurity, and transaction monitoring.
The webinar will be useful for CEOs, COOs, Compliance Officers, Regulatory and Legal Professionals, Tech Managers, and Investors looking to enter or expand within the EEA market. Attendees will gain the knowledge and tools necessary to adapt and thrive under the new MiCA regulatory framework.
Featured speakers:
Vadim Rozov, CEO at Simplify Labs, brings over 20 years of management and software development experience. Under his leadership, the company is dedicated to simplifying crypto and blockchain technology, making it accessible for non-technical founders and management teams.
Kevin Plumpton, CEO at Kyrrex, is a warranted advocate with extensive expertise in finance, business, property, and international law. He specializes in corporate governance, risk, and compliance legislation, and is a prominent figure in the Anti-Money Laundering and Counter Financing of Terrorism fields. He is recognized for developing innovative KYC and due diligence platforms utilized by leading organizations.
“The crypto industry is at a critical juncture where understanding and adhering to MiCA regulations is essential for continued growth and market access,” said Kevin Plumpton, CEO at Kyrrex. “Events like these are vital for bringing together industry leaders to share knowledge and best practices, ensuring businesses can adapt effectively and sustain their operations.”
Franklin Cachia, Executive Director at CSB Group, is an accomplished professional who advises clients on taxation, financial services, AML compliance, and corporate law, among other areas. His broad expertise also encompasses gaming, GDPR, and property law.
The post Adapt or Die: The Urgent Shift from VASP to MiCA appeared first on .
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