Wycliffe Musalia has over six years of experience in financial, business, technology, climate, and health reporting, providing deep insights into Kenyan and global economic trends. He currently works as a business editor at .

Kenya has made progress in adopting digital assets as it formulates policies to govern cryptocurrencies.

The country has embraced the use of Bitcoin, stablecoins, and blockchain integration as part of its digital economic growth.

Information, Communications, and the Digital Economy (MICDE) Cabinet Secretary William Kabogo said the government is committed to exploring digital assets as a cornerstone of national economic transformation.

“Kenya’s approach to digital assets is evolving from caution to leadership. We are supporting blockchain innovation, stablecoin development, and exploring Bitcoin reserves," said Kabogo during the launch of the Kenyan Digital Token (KDT).

Kabogo welcomed the rollout of KDT, describing it as a decisive step toward embedding digital assets within the country’s economic framework and sovereign reserves.

“Digital assets are the future of finance and Kenya cannot afford to be left behind. This launch reflects the growing confidence in tokenisation as a tool for value exchange, inclusion, and innovation,” he said during the event held on July 11, 2025.

KDT, developed on the Solana blockchain technology, aligns with the government's goal of enhancing identity, empowerment and inclusivity in digital assets.

CS Kabogo argued that the privately developed and owned token emulates Kenya's bottom-up economic transformation agenda, aimed at empowering youth.

The token is said to be scalable and with low cost, which aligns with the government's Increase Bandwidth, Reduce Latency policy vision.

The policy intends to ensure every Kenyan can participate seamlessly in the global digital economy.

This came as the country continues to develop a National Policy on Virtual Assets and a Virtual Asset Service Providers (VASP) Draft Bill.

If passed into law, the bill will balance innovation, financial inclusion, and public safety as the world gears towards digital assets.

CS Kabogo revealed that Kenyan citizens currently trade over $500 million (KSh 64.6 billion) in digital assets every month.

“This shows the great potential of digital assets in Kenya's economy. Blockchain will allow Kenyans access global markets, raise capital and invest,” he noted.

He said his ministry will work closely with innovators and stakeholders to develop policies that support responsible and inclusive digital development.

Earlier, the International Monetary Fund (IMF) issued recommendations for the Kenyan government to follow while formulating crypto policy.

Some of these recommendations are:

Meanwhile, Kenya ranked 28th globally and fourth in Africa in using cryptocurrency assets, including Bitcoin.

Source: TUKO.co.ke