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A new locally developed digital currency has hit Kenyan market targeting investors who participate in e-commerce.

The new cryptocurrency, dubbed Nurucoin, was developed by the owners of e-commerce platform BlazeBay.

The coin is set to sell at 10 US cents (Sh10), for new buyers, with the developers offering discount to entice early takers.

Even though questions remain over the safety of the virtual coins taking Kenya by storm, warnings from the central bank have largely fallen on deaf ears.

Kenyans have emerged among the most voracious buyers of digital currencies across the globe holding bitcoins valued at $16.5 trillion.