Ghana selects 11 crypto platforms for SEC regulatory sandbox pilot
Ghana has admitted 11 cryptocurrency platforms into a regulatory sandbox to test their services under the supervision of the Securities and Exchange Commission (SEC) Ghana as part of efforts to formalise oversight of the country’s growing digital asset market.
The pilot programme, which began on March 10, will allow the selected firms to operate in a controlled environment for 12 months under the provisions of the Virtual Asset Service Providers Act, 2025.
According to the SEC, the sandbox is designed to enable the platforms to pilot their products and services while regulators monitor their operations and assess compliance with regulatory standards.
The companies admitted into the programme are Africoin, Blu Penguin, Goldbod, Hanypay, Hyro Exchange GH Ltd, HSB Global, KoinKoin, Whitebits, Vaulta, XChain and Bsystem Ltd.
Under the framework, the Commission will review the performance of the participating firms after the first six months. Platforms that demonstrate that their products and services are market-ready and comply with all regulatory requirements may transition to full licences under the new law. Others that fail to meet the criteria will be allowed to continue operating within the sandbox for the remaining six months of the pilot.
The SEC said the initiative is intended to encourage innovation in the digital asset sector while ensuring adequate safeguards for investors and the broader financial system.
“This sandbox period aims to support responsible innovation while strengthening investor protection, market integrity, and compliance with anti-money laundering and counter-terrorism financing standards,” the Commission said in a statement.
It added that lessons from the pilot programme would help shape future policies and licensing frameworks for virtual asset service providers in the country.
The Commission explained that data gathered during the programme would be used to develop detailed guidelines for activity-based licensing categories under the new law, after which the regulatory space would be opened for formal licensing of digital asset operators.
The move follows earlier indications by the Bank of Ghana that authorities were working to bring cryptocurrency-related activities under formal regulation amid growing use of digital assets by Ghanaians.
Speaking on the issue last year, the Governor of the central bank, Johnson Asiama, acknowledged that regulators were racing to catch up with the rapid adoption of cryptocurrencies in the country.
“We are actually late in the game,” he said at the time, noting that many Ghanaians were already using digital currencies for transactions despite the absence of a clear regulatory framework.
The new sandbox initiative is therefore expected to provide regulators with practical insights into how digital asset platforms operate, while creating a pathway for compliant firms to obtain licences and operate legally within Ghana’s financial system.
Industry observers say the initiative could also encourage a shift from informal crypto trading channels to regulated platforms, particularly as Ghana remains one of the fastest-growing digital asset markets in West Africa.