Business Today has reported that the Nairobi Securities Exchange (NSE) could have it's first crypto-based exchange traded fund (ETF) ready to go by quarter 1 2019.
The report claims that Badoer Group ADK has met with the NSE and procedures are underway to have the first planned crypto-based ETF ready to launch by quarter 1 2019.
Badoer CEO Ricardo Badoer met with the NSE Commercial director Bahati Morara as well as the head of Innovation and Project Management Irungu Wagema to finalize the details.
Crypto-based ETF's have been all the rage in the news in 2018 with the SEC currently in the process of looking into approving ETF's under their jurisdiction.
The SEC is currently pending a decision deadline by February 2019, by which time the NSE could potentially have their ETF up and running, making it the world's first crypto ETF.
Badour group currently operates in Africa, predominantly Kenya and Tanzania, where the company holds shares in Sumac Bank and Kakika Microfinance Bank. There appears to be plans to launch an EU-based bank in the coming months.