Africa-Press – Ghana. The Bank of Ghana (BoG) has taken a decisive step towards the formalisation of the digital asset space by admitting six fintechs into its Regulatory Sandbox.
A statement from the Central Bank, copied to the Ghana News Agency on Thursday, said the admission of the fintech companies was to test the viability of virtual assets in the country.
“The move is part of the central bank’s commitment to building an enabling regulatory environment that supports innovation while safeguarding market integrity,” it said.
The initiative, the statement said, was designed to help the BoG validate proposed frameworks regarding the exchange, custody, administration, and issuance of virtual assets, including cryptocurrencies.
The selected participants for this one-year pilot programme are Transika Ltd., One Africa Securities Ltd., Mansu Technologies Ltd., Payafricne Gh Ltd., Akuna Wallet Ltd., and Afrix Paycoin Ltd.
The engagement of the entities was a strategic move to ensure the regulation of virtual assets remained robust and adaptable to global financial trends, it said.
The Bank of Ghana, however, maintained a firm stance on compliance, stating that it reserved the right to withdraw approval from any participant at any time in the event of non-performance or failure to meet applicable requirements.
This pilot phase is expected to provide critical data that will shape the future of digital currency and blockchain technology in Ghana’s financial sector.
For More News And Analysis About Ghana Follow Africa-Press
