KENYA is taking a pioneering step into the future of finance with the launch of Africa’s first regulated tokenised asset exchange, in a joint venture with Canadian fintech firm DeFi Technologies Inc. and digital finance company SovFi Inc. The new platform, known as the Kenya Digital Exchange (KDX), will provide a blockchain-powered marketplace for issuing and trading tokenised real-world assets (RWAs) including equities, debt instruments, funds, and commodities.
The announcement, made in a statement by DeFi Technologies on Monday, follows a previously signed Memorandum of Understanding (MoU) with the Nairobi Securities Exchange (NSE). KDX is designed to offer secure, compliant, and transparent access to global capital markets through decentralised finance (DeFi) solutions.
A new digital gateway to global markets
Built on blockchain infrastructure—featuring integrations like Hedera’s ledger technology—KDX will support both primary issuance and secondary trading. The platform is expected to operate under full regulatory oversight, ensuring it meets international standards while unlocking new opportunities for African investors.
‘This partnership represents a transformative step in expanding digital asset infrastructure across Africa,’ said Olivier Roussy Newton, co-founder of DeFi Technologies. ‘With KDX, we aim to offer African investors exposure to new asset classes, while driving innovation and economic growth.’
Valour’s digital ETPs near NSE listing
The exchange’s rollout builds on the progress of Valour Inc., a subsidiary of DeFi Technologies and leading issuer of exchange traded products (ETPs) for digital assets. Valour is in the final stages of listing its ETPs on the NSE and is working closely with Kenya’s Capital Markets Authority to finalise regulatory approvals. The first listings are expected before the end of Q3 2025.
Three-phase deployment through 2026
KDX will launch in three phases, starting with investor onboarding, regulatory alignment, and token issuance by Q4 2025. By mid-2026, the platform will introduce AI-powered trading, global exchange integration, and market making capabilities.
Revenue streams will include trading fees, listing and custody fees, staking, fiat conversion, token launches, and lending services, all supported by Stillman Digital, another DeFi Technologies subsidiary. The NSE will oversee regulatory compliance and domestic market access, while DeFi Technologies manages tech infrastructure and liquidity.
Kenya’s fast-growing digital economy
The KDX launch comes amid Kenya’s rapid rise as a digital finance hub. In 2022, cryptocurrency transactions in Kenya hit KSh2.4 trillion (about $18.6bn)—exceeding volumes at some domestic banks. Kenya now counts over 6 million crypto users, driven by high smartphone adoption, mobile money usage, and a youthful, tech-savvy population.
In 2024, Kenya’s fintech ecosystem drew $638 million in venture capital, the highest on the continent, and the country ranked among the top five in Africa for crypto adoption.
NSE eyes future of African finance
NSE CEO Frank Mwiti welcomed the partnership, saying it marks a bold leap toward redefining African capital markets: ‘KDX lays the groundwork for a vibrant digital marketplace that will unlock new investment channels, deepen access, and position Kenya at the forefront of tokenisation in Africa.’
SovFi’s role will focus on helping public and private entities tokenise assets, expanding financial inclusion and blockchain adoption across the region.
As Africa’s digital economy accelerates, Kenya’s launch of the KDX is poised to become a model for how DeFi and traditional finance can converge to reshape capital markets.
