Uganda Launches $5.5B Asset Tokenization and CBDC Pilot as Kenya Advances Crypto Regulation

Uganda has unveiled a landmark $5.5 billion real-world asset tokenization initiative, marking one of Africa's most ambitious blockchain projects to date. The program, led by the Global Settlement Network (GSN) and Uganda’s Diacente Group, will tokenize physical infrastructure assets across food production, mining, renewable energy, and trade sectors.

Concurrently, Uganda is piloting its digital shilling, a CBDC backed by treasury bonds and deployed on GSN’s permissioned blockchain. The move aligns with neighboring Kenya’s progress on its VIRTUAL Asset Service Providers Bill, signaling a coordinated push toward regulated digital finance in East Africa.

"We’re building infrastructure that goes beyond theory—a programmable economy grounded in real assets, regulatory collaboration, and mass accessibility," said GSN co-founder Ryan Kirkley. The CBDC framework emphasizes compliance with international standards including KYC and AML protocols.