The Financial Service Commission will surely have regard to the framework developed by the Financial Stability Board, in collaboration with the Committee on Payments and Market Infrastructures (CPMI), to monitor the financial stability implications of the developments in crypto-asset markets.
In Kenya, we introduced M-Akiba in 2017, a mobile phone-based government digital bond to mobilise micro-savings of as little as USD30 to finance government. This was targeted at a segment of the population that could not participate in conventional government securities with a minimum threshold of USD500. This concept is now being replicated in other countries most notably, Bangladesh.