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- NHX Finance is developing a 1:1 Kenyan Shilling stablecoin in Hedera.
- NSE Innovation Lab’s partnership with Hashgraph aims to strengthen Kenya’s market infrastructure.
NHX Finance has made significant strides with its fully backed 1:1 Kenyan Shilling stablecoin built on Hedera, emerging as a leading force in Kenya’s evolving digital asset landscape. This announcement was made in the wake of the recent reporthighlighted the Nairobi Stock Exchange (NSE) Innovation Lab and its partnership with Hashgraph to drive advanced market infrastructure across the region.
Introducing NHX Finance: NSE Innovation Lab is working on developing a 1:1 backed Kenyan Shilling stablecoin with @hedera. https://t.co/O5aEN73DCr
— nhxfinance (@nhxfinance) November 26, 2025
According to a post by X, during an NSE Innovation Lab session, NHX Finance said that the development of a stablecoin is underway. The goal of the project is to enable a trusted, asset-backed digital Kenyan shilling that provides fast, transparent and low-cost payments on domestic and cross-border payment rails.
Additionally, Hedera’s adoption of an enterprise-grade distributed ledger platform makes this project more attractive to institutions. Hedera is a predictable, high-throughput governance service that NHX Finance believes is a necessary element to expand secure adoption of stablecoins. The company said the project is in line with Kenya’s aspirations to become a regional fintech hub.
Mr Hedera said:
“The Lab’s goal is to accelerate innovation in sustainable finance, digital assets, tokenized products, and intelligent market data systems, while pioneering new models for regional market connectivity, investor inclusion, and product development.”
Innovation Lab accelerates Hedera adoption
According to the announcement, the NSE Innovation Lab was established to promote applied innovation in capital markets. The lab will explore tokenization, digital assets, decentralized finance, and intelligent data systems through Hedera’s technology stack and Hashgraph’s development expertise. NSE joined other members of the Council to operate nodes on the Hedera network and had equal voting rights in the management of Hedera software and services.
HBAR price remains stagnant
Despite these industry developments, Hedera’s native token has not caused a significant reaction in the market. HBAR is trading up about 0.21% today while the overall crypto market is up over 3.5%. Weekly results were flat, and a steep 37% decline in the past three months continues to weigh on sentiment. HBAR is still down about 13% this month and nearly 51% from its July highs, but there are some early signs of possible change on the charts.
Analyst ZAYK Charts recently highlighted a recurring pattern of descending channels, similar to the previous structure that preceded the 70%-80% rally. HBAR is currently retesting the top of this channel. A strong breakout could pave the way to the $0.105-$0.145 region, which corresponds to historic reaction levels, in which case it would signal a transition from correctional measures to early expansion.
$HBAR gears up for next breakout
Just like the previous event that resulted in a massive 70-80% rally #HBAR #HBARUSDT pic.twitter.com/cTkNBRMnV3
— ZAYK Charts (@ZAYKCharts) November 10, 2025
