This article translated what I wrote in japanese into English. Although it may be unclear by the expression of English, if you read this article you can grasp the image of ADK(Aidos Kuneen)
ADK is aiming to become the world’s first ETF with cryptocurrency, but we are waiting for announcement from Kenya’s stock exchange NSE, but news about ADK ETF came out from another angle, so I will introduce it .
If you want to know the basics about ETF, please see the following two articles.
- ADK to acquire shares in ALTX East Africa Exchange! ?
- Increase in share acquisition
- About ALTX East Africa Exchange
- About GMEX Group
- About licensing issues
- Uganda law firms “Katende, Ssempebwa & Co Advocates” support ADK!
- Stock exchanges where ADK ETF is going to be listed
ADK founder Don said on February 12, 2020, “Not maybe! It is happening. Now my lawyers are finishing the steps for getting my shares in ALTX”
ADK founder Don said on February 13, 2020, “Not maybe! It is happening. Now my lawyers are finishing the steps for getting my shares in ALTX”
About ALTX East Africa Exchange
East Africa Exchange in Uganda is a stock exchange owned by ALTX Africa Group.
It should be notable that the GMEX Group is one of the ALTX East Africa Exchange partner companies.
Mr.Hirander Misra, Chairman and CEO of the GMEX Group, is a member of the board of the ALTX East Africa Exchange.
Had great lunch with Mr Hirander Misra and Mr Mo talking banking , crypto , Cricket and everything in between. Stay tuned pic.twitter.com/TS6KzeJX0u
— Ricardo Badoer (@Donrico77) January 22, 2020
@HIRANDERMISRA, CEO and Chairman of @GMEX_Group had lunch, at the white beach restaurant at the Palm Jumeirah, with @Donrico77, Founder of @Aidos_kuneen (a Top 100 crypto coin) & entrepreneur. https://t.co/B21F98P9VW
— GMEX (@GMEX_Group) January 23, 2020
About GMEX Group
Mr. Hirander Misra is chairman and CEO of the GMEX Group.
The GMEX Group is a London-based financial services company that operates stock, bond, FX, derivatives, commodities and cryptocurrency exchanges.
GMEX was listed in the top 100 most influential Fintech companies in the first quarter of 2018.→The 100 most influential Fintech companies
— HIRANDER (@HIRANDER_MISRA) February 28, 2020
On February 28, 2020, ADK founder Don stated that he would also acquire shares in the GMEX Group!
About licensing issues
One concern is that the ALTX East Africa Exchange seems to have a problem with its license handling.
Uganda law firms “Katende, Ssempebwa & Co Advocates” support ADK!
See ADK founder Don’s tweet below.
Happy to announce that we have aquired the services of Katende, Ssempebwa & Co Advocates for acquisition of ALTX Uganda shares.
— Ricardo Badoer (@Donrico77) February 21, 2020
Postscript: Licensing problem solved!
On February 28, 2020, ADK founder Don stated that he had won the trial! Furthermore, it is said that the share acquisition will be 5%. When combined with 25% of the ALTX East Africa Stock Exchange owned by GMEX Group, it will be 30% ♪
On March 3, 2020, there was an announcement from the official Twitter of the ALTX East Africa Stock Exchange!
ALTX is pleased to announce the positive outcome of our legal challenge against Capital Markets Authority Uganda. The High Court of Uganda sitting on 28th February 2020 ruled that CMA acted illegally in cancelling ALTX East Africa’s approval to operate an exchange in Uganda. 1/3 pic.twitter.com/xkWhNgaM01
— ALTX East Africa (@altxeastafrica) March 3, 2020
Stock exchanges where ADK ETF is going to be listed
- Kenya’s NSE (Nairobi Securities Exchange)
- Tanzania’s DSE (Dar es Salaam Stock Exchange)
- Uganda’s ALTX (ALTX East Africa Exchange)
- Seychelles SECDEX → It is still undecided information.
ADK founder Don said, “We want to enter as many” small “stock exchanges as possible to open the way to the EU and larger stock exchanges. “.
When the ADK ETF is listed on the stock exchange, it will be the world’s first cryptocurrency ETF. Based on that track record, we aim to list on the JSE (Johannesburg Stock Exchange) and LSE (London Stock Exchange) ♪