Tether Teams with Nairobi Exchange on Blockchain and Stablecoin Efforts
Tether, the company behind the popular stablecoin USDT, has signed a memorandum of understanding (MoU) with the Nairobi Securities Exchange to explore the use of blockchain technology across several areas of its operations.
The agreement covers four key areas: tokenized securities issuance, blockchain-based market infrastructure, instant settlement mechanisms, and digital asset education. The parties also plan to assess whether USDt can serve as a settlement layer for exchange transactions, although this would require approval from Kenyan regulators.
Tether's Hadron platform was specifically mentioned in the agreement as a potential candidate for issuing and trading tokenized securities on the exchange.
The total value of tokenized real-world assets (excluding stablecoins) stood at around $36.8 billion as of July 28, while stablecoins held nearly $298 billion, with USDT accounting for approximately $184 billion of that figure.