Tether signs tokenization deal with Nairobi Securities Exchange

Tether signed a memorandum of understanding with the Nairobi Securities Exchange to explore tokenized securities, blockchain-based market infrastructure and the potential use of USDt ($USDT) as a settlement layer.

Tether said in a Tuesday announcement that the memorandum outlines plans to explore blockchain-based market infrastructure, digital asset education and real-world asset tokenization, including the potential use of its Hadron tokenization platform for issuing and trading tokenized securities.

The memorandum also calls for the parties to assess instant settlement mechanisms and the potential use of $USDT as a digital settlement infrastructure layer, where permitted under Kenyan regulations.

The agreement comes as tokenized real-world assets (RWAs) continue to gain traction. The sector’s onchain value has grown to about $36.8 billion, excluding stablecoins, according to RWA.xyz.

RWA.xyz separately tracks nearly $298 billion in stablecoins, which some market participants also consider RWAs because they represent claims on offchain reserve assets. $USDT, with a market capitalization of roughly $184 billion, is the world’s largest stablecoin.