The Nairobi Securities Exchange (NSE) has signed a memorandum of understanding (MoU) with USDT stablecoin issuer Tether, marking the latest step in the bourse’s strategy to bring on-chain financial products to Kenya’s capital markets.

Under the agreement, the two organizations will explore digital asset education, tokenization, blockchain innovation, and the development of digital financial infrastructure, as the exchange positions itself for a future in which traditional securities and real-world assets (RWAs) are issued and traded on blockchain networks.

PRESS RELEASE | Nairobi Securities Exchange Signs MoU with Tether (USDT)

The partnership comes as exchanges globally race to integrate tokenized assets into mainstream capital markets. Tether, issuer of the world’s largest stablecoin, USDT, has increasingly expanded beyond stablecoins through investments in tokenization, digital infrastructure, and blockchain initiatives across multiple jurisdictions.

For the NSE, the agreement represents another milestone in a digital transformation strategy that has gathered pace over the past two years under Chief Executive Frank Mwiti.

Rather than being an isolated initiative, the Tether partnership builds on a series of projects aimed at modernizing Kenya’s capital markets and preparing the exchange for on-chain financial products.

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• August 2024: The NSE announces plans to introduce digital asset ETPs.
• October 2024: The exchange joins the Hedera Governing Council.
• April 2025: It reveals plans for a digital assets exchange and tokenization platform.
• May 2025: Valour announces plans to list crypto ETPs on the NSE.
• June 2025: The NSE publishes a blockchain-focused growth strategy while Kenya’s banking sector explores tokenized collateral.
• November 2025: The exchange launches the NSE Innovation Lab to support blockchain and capital markets innovation.
• July 2026: The NSE signs an MoU with Tether to collaborate on blockchain innovation, tokenization, and digital financial infrastructure.

The exchange’s digital asset roadmap began in August 2024 when it announced plans to introduce digital asset exchange-traded products (ETPs), providing regulated exposure to cryptocurrencies through the stock market.

Two months later, the NSE joined the Hedera Governing Council, becoming one of the first African stock exchanges to participate in the governance of a public distributed ledger network. The move signaled the exchange’s intention to play a direct role in shaping blockchain infrastructure rather than simply adopting it.

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Momentum accelerated in 2025.

In April 2025, the exchange unveiled plans to build a digital assets exchange and tokenization platform designed to support the issuance and trading of tokenized securities and other blockchain-based financial instruments.

TOKENIZATION | Nairobi Securities Exchange (NSE) to Launch Regulated Digital Assets Exchange and Tokenization Platform in Kenya

A month later, European digital asset manager Valour announced plans to work with the NSE to list crypto exchange-traded products, potentially making Kenya one of the first African markets to offer regulated crypto investment products through a national securities exchange.

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The strategy expanded beyond investment products in June 2025 when the Kenya Bankers Association began exploring tokenized collateral frameworks, a development that could eventually allow banks to use tokenized assets in lending and liquidity management.

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During the same month, the NSE chief executive discussed the exchange’s long-term strategy in an interview, identifying blockchain, tokenization, and digital assets as key pillars for future market growth. Mwiti also published a detailed op-ed outlining what he believes is the key to unlocking the potential of securities markets in Kenya and across the African continent: tokenization.

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In November 2025, the exchange launched the NSE Innovation Lab, creating a platform for startups, fintech firms, and technology partners to develop blockchain and capital markets applications that could eventually be commercialized.

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The Tether agreement now adds one of the world’s largest digital asset companies to that growing ecosystem.

If implemented, the collaboration could extend beyond cryptocurrency use cases into tokenized bonds, equities, commodities, and other real-world assets, areas increasingly being explored by exchanges and financial institutions worldwide as blockchain technology moves into regulated financial markets. For the NSE, that broader scope matters because tokenization efforts tend to depend on a mix of market infrastructure, regulatory readiness, and product development rather than a single launch announcement.

While neither party disclosed financial terms or implementation timelines, the MoU suggests the NSE is continuing to position itself as one of Africa’s most active traditional exchanges pursuing tokenization and digital asset infrastructure.

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