Raise, a Bahamian and Kenyan technology company, has announced a partnership with Kenyan corporate law firm ALN Kenya Anjarwalla & Khanna (A&K) to create what it believes to be the continent’s first security token framework.
Raise’s platform targets the private capital markets industry and recently announced the security token asset in partnership with iHub.
A demo of Raise’s platform was announced at the ALN Africa Investment Conference, 2018 in Dubai and the announcement on the partnership between Raise and A&K was made at the Business for Africa Forum in Cairo, Egypt, attended by the heads of states of Rwanda, Togo, Niger, Zimbabwe and Egypt, together with the CEO of COMESA.
Raise CEO and co-founder, Marvin Coleby, announced the partnership at the event where he spoke about the potential for distributed ledgers and blockchain technologies.
Coleby, a securities lawyer and an authority in digital asset regulation, emphasises the need for a clear regulatory approach for blockchain technologies on the continent and its use particularly in relation to capital markets infrastructure.
“Blockchain technologies suffer from a clear lack of regulation around the world. There is a need for efforts at self- regulation to create frameworks that educate law firms, policymakers and entrepreneurs,” he says.