Kenya Launches National Digital Token KenyaNDT (KDT) to Advance Digital Asset Strategy

On July 13, Kenyan Information and Communication Technology Minister 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 standardized regulatory framework for digital assets. He also revealed that Kenyan citizens currently trade more than $500 million in digital assets each month, reflecting a high level of public engagement in the field.

Although the Central Bank of Kenya has not yet clarified the legal tender attributes or pegging mechanism of KenyaNDT, Kabogo also clarified that the token is not directly issued by the government, but its goals are highly consistent with the national digital strategy. Currently, the government is consulting with the central bank, the Communications Authority, and the Ministry of Finance to promote the implementation of governance models and regulatory compliance. [Deep Tide TechFlow]