The Venom Foundation has unveiled its strategic alliance with the Kenyan government to create a blockchain hub in Africa, focusing on the advancement of Web3 and blockchain technology applications.
The partnership is set to foster innovation in crucial sectors such as finance, supply chain management, agriculture, small and medium-sized enterprises (SMEs), and cross-border trade, thus benefiting not only Kenya but the entire African continent.
Kenya has made significant progress in expanding financial services to its population, with over 84% now having access through banks and fintech companies.
To further drive economic growth and benefit its citizens, the country has embraced blockchain infrastructure as a long-term strategy. This move aims to unlock various benefits, including enhancing the value of services, stimulating the domestic economy, creating new international trade pathways, and improving the efficiency of intra-African trade.
In a recent tweet, the Kenyan government expressed its commitment to positioning Kenya at the center of Africa and the global digital map, attracting global tech companies to tap into Kenya’s exceptional tech talent.
The partnership with Venom Foundation through Venom Africa highlights Kenya’s approach to next-gen technology and financial and technological developments. Africa’s commitment to adopting Web3 and blockchain technologies is exemplified by the Venom Foundation’s expansion on the continent.
In our continued quest to place Kenya at the heart of Africa and Global Digital Map, we have accelerated our efforts to attract global tech companies seeking to tap into Kenya’s unbelievable tech talent. The latest in this is leading block chain Venom @VenomFoundation
— CS Moses Kuria (@HonMoses_Kuria) May 9, 2023
The foundation seeks to empower African communities by bridging the gap between traditional finance and trade and the Web3 world, promoting regional economic growth through seamless cross-border trade and transactions.
Venom Foundation, a licensed organization under ADGM, plays a pivotal role in driving the expansion of global Web3 projects. Operating within the jurisdiction of the Abu Dhabi Global Market, Venom stands as the world’s inaugural compliant blockchain network.
This distinction empowers authorities and enterprises with the freedom to construct, innovate, and scale their initiatives securely and in accordance with regulations.