DeFi Technologies Inc., along with its subsidiaries Valour Inc. and SovFi Inc., has entered into a groundbreaking partnership with the Nairobi Securities Exchange (NSE) to design and launch the Kenya Digital Exchange (KDX)—a regulated platform aimed at transforming Kenya’s capital markets through blockchain technology and digital asset trading.
This initiative follows the signing of a strategic Memorandum of Understanding between NSE, Valour, and SovFi. The goal: to introduce tokenized financial products and enhance access to global capital markets by integrating real-world assets (RWAs) with decentralized finance (DeFi) infrastructure.
Unlocking Digital Asset Trading in Africa
The Kenya Digital Exchange will serve as a fully regulated digital marketplace, enabling tokenization and trading of various asset classes including equities, debt instruments, funds, and commodities. Built on robust blockchain infrastructure, including integration with Hedera, KDX will support primary issuance, secondary trading, and liquidity provisioning. The project will be rolled out in three phases, beginning with investor onboarding and regulatory compliance in Q4 2025, and concluding by mid-2026 with advanced trading features and global interoperability.
Valour, a leading issuer of digital asset Exchange Traded Products (ETPs), is already in advanced stages of listing select ETPs on the NSE. Local partnerships are being established to support the architecture needed for these listings, expected to go live before the end of Q3 2025.
“This partnership represents a transformative step in expanding digital asset infrastructure across Africa,” said Olivier Roussy Newton, CEO of DeFi Technologies. “By collaborating with the NSE, we are enabling investors to access new asset classes and driving economic growth across the continent.”
Frank Mwiti, CEO of the NSE, echoed this sentiment: “This is a bold and strategic leap for African capital markets. KDX will lay the foundation for a dynamic, inclusive marketplace that unlocks new investment opportunities and positions Kenya as a continental leader in tokenization.”
A Revenue Model for the Digital Future
The KDX’s revenue model will include trading fees, asset tokenization, custody services, fiat conversion, lending, staking, margin trading, and yield services. Stillman Digital, a subsidiary of DeFi Technologies, will support liquidity provision and market making.
SovFi will play a crucial role in enabling tokenization for government and institutional entities, providing liquidity solutions and expanding blockchain adoption across African financial ecosystems.
Why Kenya?
Kenya is a fast-growing digital economy. In 2022, its crypto transaction volume reached $18.6 billion, surpassing some local commercial banks. With over 6 million crypto users, an 85% smartphone penetration rate, and a mobile-first population, the country ranks among the top five African nations in crypto adoption and 21st globally. Kenya’s fintech space also raised $638 million in venture funding in 2024 alone, reflecting strong investor confidence.
