The Nairobi Securities Exchange (NSE) has officially joined the Hedera Council to accelerate tokenization initiatives using the Hedera Network.
According to a press release, the admission to the Council will provide the NSE the ability to accelerate the launch of digital assets and tokenized securities on its Exchange leveraging Hedera’s secure, transparent, and scalable technology.
1/4 The @NSE_PLC has today joined the Hedera Council as part of its commitment to the digitization of real-world assets and tokenization of securities in Kenya’s capital market.@hedera @mwiti_frank pic.twitter.com/4hwKG3PDpS
— NSE PLC (@NSE_PLC) October 30, 2024
According to the release, Hedera is a high-performance, secure, and sustainable public, permissioned DLT network. It enables seamless tokenization of real-world and digital assets with unmatched performance, security, and compliance.
From regulated security tokens to NFTs, Hedera empowers the efficient creation of diverse asset types by providing enterprises and developers with robust open-source tools to unlock illiquid assets and drive the evolution of financial markets.
“The NSE’s diverse reach provides an excellent foundation for Hedera to underpin global capital markets with a market capitalization of approximately $12.65 billion, daily transaction volumes exceeding $100 million, and 63 listed companies and securities across 11 sectors,” said Bill Miller, Co-Chair of the Membership Committee for Hedera.
The admission makes the NSE the 32nd member of the Hedera Council, a diverse group of globally recognized organizations that operate and govern the decentralized Hedera network. The NSE joins other Council members in running a node on the Hedera network and holding equal voting power in the governance of Hedera’s software and services.
Council members include:
Standard Bank
Nairobi Securities Exchange
Google
IBM
Tata
Boeing
LGE
Deutsche Telecom
Hitachi
Dell
“Tokenization has the potential to transform industries across Africa and the NSE is committed to driving this innovation through the Hedera network, which is valued for its unmatched performance, security, and compliance standards,” said Frank Mwiti, CEO of the NSE.
“The NSE looks forward to collaborating closely with other Council members to drive widespread adoption of tokenization across the continent and establish the NSE as an industry leader in the space on the global stage.”
In recent months, NSE has accelerated efforts to provide digital asset products collaborating with technical providers.
An NSE project involving blockchain’s Real World Assets (RWA) for the creation of capital instruments to address the $2.5 billion annual housing finance requirement in Kenya won funding in the recent Cardano Project Catalyst program.
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Mozambique’s Empowa Raises Over $600,000 from Cardano After NSE Proposes Tokenization Solution for Kenya’s Housing Market – https://t.co/XaZvECRdqp
— Leroy James Essel (@EsselLeroy) August 17, 2024
The project, in partnership with Mozambique RWA startup, Empowa, involves the creation of RWA tokens for affordable housing in Kenya enabling capital raising, tracking cashflows, ownership and returns.
LAUNCH | Mozambique’s Empowa Pay Integrates Hedera Hashgraph to Enable Fiat Payments by Tenants Across Africa
Hedera is an attractive solution due to its strategic partnerships with financial institutions. These include Standard Bank (Stanbic), Africa’s largest bank, which is… pic.twitter.com/iHgOV5odCc
— BitKE (@BitcoinKE) November 24, 2023
In August 2024, the NSE signed a memorandum of understanding with Valour and SovFi on issuing and trading digital asset exchange-traded products (ETPs) on the NSE in Kenya.
[TECH] EAST AFRICA | Nairobi Securities Exchange (NSE) Signs MoU to Introduce Digital Asset ETPs in Collaboration with Valour and SovFi: Kenya’s Nairobi Securities Exchange (NSE) has signed a memorandum of u.. https://t.co/dhVJa5jvFi via @BitcoinKE
— Top Kenyan Blogs (@Blogs_Kenya) August 8, 2024
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