Tether has signed a memorandum of understanding with the Nairobi Securities Exchange to explore the issuance of tokenized securities, blockchain-based market infrastructure and the possible use of its USDT stablecoin as a settlement layer. The agreement was announced on Tuesday.

The memorandum sets out plans to examine blockchain market systems, digital asset education and the tokenization of real-world assets. It includes potential deployment of Tether’s Hadron platform for the issuance and trading of tokenized securities. The parties will also evaluate instantaneous settlement mechanisms and the role of USDT as a digital settlement infrastructure where Kenyan regulations permit.

Tokenized real-world assets excluding stablecoins currently hold an on-chain value of approximately $36.8 billion. Stablecoins themselves total nearly $298 billion, with USDT accounting for roughly $184 billion as the largest such token by market capitalization.