2 Out of 6 Firms in the Kenya Capital Markets Authority Regulatory Sandbox are Blockchain-based

0
471
JOIN US ON TELEGRAM

The Capital Markets Authority of Kenya (CMA Kenya) recently announced two additional firms into its regulatory sandbox.

Out of the total six firms currently sandboxed, two are blockchain-based.

SEE ALSO[WATCH] Belrium Kenya Becomes the First Blockchain Solution to Be Admitted into the Capital Markets of Kenya Regulatory Sandbox

The current sandbox is limited to financial solutions with a capital market component but not the entire space. As a result, all the firms in the sandbox are offering fintech and custodial services with one firm remaining undisclosed.

The five firms are:

  • CDSC Kenya – Clearing & Settlement Custody services provider in the Kenya Capital Markets.
  • Pezesha – Lending Platform providing a holistic financial marketplace for MSMEs by offering lendingfinancial education, and debt counselling to borrowers
  • Innova Limited – Custodial Settlement Product providing an Integrated Financial Enterprise Solution for Fund Managers, Custodians, Private Equity Firms, Unit Trust Managers and Bancassurance that enables complete automation and optimization of operations and processes
  • Pyypl Group Limited – Blockchain-based Financial Technology Platform for issuing unsecured bonds (debentures) directly from a mobile phone among entrepreneurs
  • Belrium Kenya – A blockchain-based and Shareable Know Your Customer (e-kyc) solution for capital markets intermediaries and investors
  • (Undisclosed Firm)

The undisclosed firm has remained protected, which is in line with the Policy Guidance Note which allow firms to remain undisclosed to protect the confidentiality of any information shared in connection with the regulatory sandbox test.

Having two blockchain-based firms, the most for any emerging technology in the sandbox, is impressive in an emerging market like Kenya, and goes to show just how forward-thinking the regulator is in getting such technologies ready for market.

 

 

 

Follow us on Twitter for latest posts and updates

 

 

Open a Paxful Bitcoin Trading Account today!

LEAVE A REPLY

Please enter your comment!
Please enter your name here