Tether Partners With Nairobi Securities Exchange on Blockchain-Based Market Infrastructure

Tether has signed a Memorandum of Understanding (MoU) with the Nairobi Securities Exchange to explore digital assets in Africa. The agreement, announced on July 28, covers several areas of collaboration, including the potential creation of blockchain-based market infrastructure for tokenizing securities.

The MoU also explores fractional ownership through Tether's Hadron platform, targeting local investors and Kenya's massive diaspora population. Paolo Ardoino, CEO of Tether, and Frank Mwiti, CEO of NSE, emphasized the educational component of the partnership, which includes integrating programs to build blockchain literacy and enhance operational efficiency.

The agreement also calls for streamlining Anti-Money Laundering and Know Your Customer processes in compliance with Kenyan regulations. The MoU does not outline specific timelines or financial commitments, and regulatory clarity around digital asset trading remains a work in progress.