DeFi Technologies has announced the development of Kenya Digital Exchange, a regulated platform earmarked for the tokenization of real-world assets.
Announced on April 21, Kenya Digital Exchange is a collaboration between DeFi Technologies and its subsidiary Valour Inc., as well as SovFi and the Nairobi Securities Exchange.
KDX offers a new exchange that will allow for the trading of various tokenized products, including equities, debt, funds and commodities.
“This partnership marks a bold and strategic leap toward the future of African capital markets,” said Frank Mwiti, chief executive officer of the NSE.
KDX will help unlock new investment opportunities for users, increase market access and bring benefits tokenization and trading to more users across the continent.
Notably, KDX will tap into blockchain technology, including Hedera (HBAR), to bring these benefits to users.
“By collaborating with NSE, we will empower investors with new asset classes, driving economic growth, and positioning Kenya as a leading financial hub in Africa,” said Olivier Roussy Newton of DeFi Technologies.
The partnership comes several months after an initial collaboration between Valour and the NSE, which will see exchange-traded products by Valour go live on the Nairobi Stock Exchange.
Per the details in the latest press release, the ETPs are set for NSE-listing before the end of the third quarter of 2025.
Meanwhile, KDX is set for phased rollout, with the first of three phases implemented by the end of 2025. The last phase is expected in the first half of 2026.
The new digital exchange will feature a revenue model that includes trading fees, listing fees, deposit/withdrawal fees, and margin trading.
KDX also plans to accrue revenue from lending, staking, token launches, custody and initial exchange offerings among many other initiatives.
The launch of KDX looks to tap into a market boasting over 6 million crypto users, and one that accounted for over $18.6 billion in transactions in 2022.
