Kenya launches national digital token KenyaNDT (KDT) to advance digital asset strategy

ChainCatcher news, Kenya's Cabinet Secretary for Information and Communication Technology William Kabogo announced the official launch of the national digital token KenyaNDT (KDT), which is deployed on the Solana blockchain.
Kabogo stated that Kenya is formulating a national virtual asset policy and a draft bill for virtual asset service providers (VASP) to build a more regulated digital asset regulatory framework. He also revealed that the monthly digital asset trading volume for Kenyan citizens has exceeded $500 million, reflecting the high level of public participation in this field.

Although the Central Bank of Kenya has not clarified the fiat currency attributes or pegging mechanism of KenyaNDT, Kabogo also clarified that the token is not directly issued by the government, but its goals are highly aligned with the national digital strategy. Currently, the government is negotiating with the Central Bank, the Communications Authority, and the Ministry of Finance to advance the implementation of governance models and regulatory compliance.