New “Bankless Bitcoin” ATMs have been installed inside several Nairobi shopping centers, marking one of the most visible steps toward mainstream crypto access in Kenya’s retail sector. The machines are positioned next to traditional bank ATMs, allowing customers to buy and sell Bitcoin and complete cash-to-crypto transactions in high-traffic areas. Thousands of shoppers pass these locations each day, giving the rollout immediate public exposure.
The installation follows a period of regulatory transition triggered by the Virtual Assets Service Providers (VASPs) Act, 2025. The law, which took effect on 4 November after its gazettement in late October, establishes the official framework for supervising crypto-related businesses in Kenya. It introduces clear obligations for compliance, customer protection, and financial crime prevention.
New Law Sets the Regulatory Groundwork
The VASPs Act assigns oversight to both the Central Bank of Kenya (CBK) and the Capital Markets Authority (CMA). The two regulators now share responsibility for licensing, monitoring, and enforcing standards for any entity operating or offering virtual asset services within Kenya or from abroad. The law categorizes service providers under defined groups such as exchanges, custodial wallet providers, and other digital asset platforms.
The CBK and the CMA have emphasized that no operator has yet been licensed. Despite the appearance of the Bitcoin ATMs in several malls, the regulators maintain that formal authorization is still pending. They state that any provider offering virtual asset services must secure a license before conducting regulated activities. This stance signals a tight approach to compliance during the early stages of the law’s implementation.
The presence of the machines has prompted questions about timing, authorization, and the status of prospective VASPs. Industry observers expect an initial licensing wave once applicants complete reviews and meet the Act’s requirements. Until then, regulators continue to reinforce that consumer protection and anti-money-laundering obligations will guide all approvals.
Crypto Activity Extends Beyond the Retail Sector
While the new Bitcoin ATMs bring crypto visibility to Nairobi’s upscale malls, digital assets have been circulating in informal areas for several years. In Kibera, one of the region’s largest low-income settlements, Bitcoin is already part of daily economic activity in specific communities.
Fintech start-up Afrobit Africa began distributing Bitcoin-denominated grants in 2022. The pilot targeted local garbage collectors in Soweto West, many of whom lacked identification and therefore could not access bank accounts or mobile money services. After weekend clean-ups, workers received Bitcoin instead of Kenyan shillings. The firm says the initiative has injected around $10,000, or roughly 1.3 million shillings, into the area.
The program created early adopters who now understand how to store and use Bitcoin on mobile wallets. Participants became informal educators, showing neighbors how to transact and convert small amounts when needed. This grassroots familiarity created a parallel narrative to the ongoing regulatory process in the formal sector. While policymakers shape licensing frameworks, some communities have already adopted practical crypto use cases based on necessity and convenience.
