Kenyan technology, finance and property-sector leaders have renewed calls for tokenising real-estate assets to widen access to capital, The Star reports. The push comes as Kenya prepares to operationalise the Virtual Asset Service Providers Act, 2025.

Proponents told the newspaper that fractionalised digital tokens could lower investment thresholds and ease financing constraints for mid-sized developers reliant on traditional bank lending. They said token-based structures could attract wider domestic and foreign participation, claiming that the approach could “unlock trillions” of shillings.

Analysts cited by Business Daily Africa noted that blockchain-based records may enhance transparency and reduce risks linked to land fraud and unverified developments, issues that have affected investor confidence in Kenya’s property market.

Under the revised VASP bill, the Central Bank of Kenya (CBK) and the Capital Markets Authority (CMA) will oversee licensing and supervision of virtual asset providers, while the Treasury will draft detailed regulations. These will cover stablecoins, tokenised real estate schemes and other assets, trading platforms, cybersecurity, advertising, and anti–money laundering (AML) safeguards.

The bill also aligns Kenya with other African regulators embracing crypto supervision. South Africa has licensed more than 240 virtual-asset firms, Nigeria has launched a sandbox for digital finance, and Mauritius already applies global compliance standards through the Eastern and Southern Africa Anti–Money Laundering Group (ESAAMLG) framework.

Broader regional analysis published by International Banker suggests tokenisation could expand capital access in African markets if safeguards and supervisory frameworks are effectively implemented.

Chainalysis ranks Kenya among Africa’s top five crypto markets, citing strong remittance inflows and widespread use of peer-to-peer trading platforms. Its 2024 Geography of Cryptocurrency Report estimated that Kenya processed about $580mn in digital transactions, much of it outside formal financial channels.