Africa’s virtual asset industry is becoming increasingly connected, and industry groups in different parts of the continent are now looking for ways to coordinate their efforts.
The Virtual Asset Service Providers Association (VASPA) and the Virtual Assets Association of Kenya (VAAK) have signed a Memorandum of Understanding (MoU) aimed at strengthening collaboration between virtual asset industry stakeholders in West and East Africa.
According to VASPA, the agreement took effect on September 17, 2026, creating a formal framework for the two associations to work together on policy, education, research and innovation across Africa’s digital asset sector.
VASPA describes itself as a Pan-African industry body representing virtual asset service providers, while VAAK brings together virtual asset businesses and other stakeholders in Kenya. VAAK was established to coordinate industry participation, support standards and facilitate engagement between the private sector and regulators in Kenya.
Under the new partnership, both organisations will collaborate on advocacy and policy engagement. This includes working toward regulatory frameworks and industry standards that address the development of virtual assets while supporting responsible activity within the sector.
Education and training are also part of the agreement. The associations plan to support capacity-building initiatives and public awareness efforts across East and West Africa.
This is particularly relevant as more African countries develop formal rules for cryptocurrency and other virtual assets. Kenya, for example, has established a legal framework for virtual asset service providers through its Virtual Asset Service Providers Act, while detailed regulations have since been introduced to govern licensing, supervision and compliance.
The partnership will also focus on research and knowledge sharing. VASPA and VAAK are expected to exchange industry information and work on initiatives that can provide a better understanding of Africa’s virtual asset markets and the regulatory issues affecting them.
Innovation is another area covered by the MoU, with the organisations seeking to create more opportunities for collaboration between businesses, policymakers and other participants in the digital asset ecosystem.
To coordinate the partnership, the two associations will establish a Joint Working Committee. The committee will be responsible for helping implement the areas of cooperation outlined in the agreement.
For VAAK, the agreement comes as Kenya continues to develop its virtual asset regulatory framework. The association says it works to consolidate industry input, develop standards and facilitate dialogue between virtual asset businesses, regulators and other stakeholders.
VASPA has also been expanding its network of partnerships and affiliations across the continent. Earlier in September, the association introduced an affiliate membership structure for non-commercial organisations such as advocacy groups, research institutions, academic institutions and policy think tanks.
The VASPA-VAAK agreement therefore creates another channel for cooperation between African virtual asset industry groups at a time when regulation is becoming a central issue for the sector.
Rather than operating through separate national conversations, the two associations will now have a formal structure for sharing knowledge and coordinating work across their respective regions. How much this cooperation influences policy and industry development will depend on the initiatives that emerge from the agreement and how effectively they are implemented.
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