The Nairobi Securities Exchange has joined the Hedera Council to accelerate cryptocurrency initiatives in Africa, leveraging the technology and global reach of the Hedera network.

Accelerating the adoption of digital assets

Kenya's main stock exchange, the Nairobi Securities Exchange (NSE), has joined the Hedera Council to accelerate cryptocurrency initiatives using the Hedera network. By joining Hedera, the Kenyan stock exchange becomes the 32nd member of the network's governing group.

As a council member, NSE will operate a node and have equal voting rights in managing Hedera's software and services. Other notable members of the Hedera Council include technology giants Google and IBM, as well as telecommunications group Deutsche Telekom.

Frank Mwiti, CEO of NSE, expressed excitement about the council's approval of the exchange, stating that this will expedite the launch and adoption of digital assets as well as the tokenization of securities on the exchange.

“This initiative aligns with our new strategic priority to provide world-class market infrastructure based on diverse and innovative financial products, leveraging partnerships and collaboration. Tokenization has the potential to transform industries across Africa, and NSE is committed to driving this innovation through the Hedera network, renowned for its performance, security, and unparalleled compliance standards,” Mwiti said.

He added that his organization looks forward to closely collaborating with other council members to promote the tokenization of digital assets across Africa and make NSE a leader in the industry.

According to the statement, NSE is a crucial driver of the Kenyan economy, enabling local and international businesses to save, invest, and access capital. Its strong performance, recognized by Morgan Stanley Capital International (MSCI), reflects investor confidence in NSE.

Meanwhile, Bill Miller, co-chair of the Hedera Membership Committee, welcomed NSE's membership in the council, stating that this will help access the relationships and expertise of the Kenya Securities Exchange. Miller stated that NSE's membership could accelerate the adoption of Hedera technology.

“Kenya presents a significant opportunity to promote the adoption of digital assets and Hedera technology,” Miller said. “The diverse reach of NSE creates a great foundation for Hedera to support the global capital market with a market capitalization of approximately $12.65 billion, daily trading volume exceeding $100 million, and 63 listed companies across 11 sectors.”
#binance #wendy #bitcoin #eth #web3 $BTC $ETH $BNB