Key Highlights
- Ghana has selected 11 firms to test crypto trading in a 12-month regulatory sandbox.
- The sandbox lets companies try products under supervision, with full licenses possible after six months if they meet the rules.
- The move follows the Virtual Asset Service Providers Act, 2025, which gives crypto businesses legal status in the country.
The Securities and Exchange Commission Ghana (SEC) today announced that it has admitted 11 companies into a 12-month regulatory sandbox to pilot virtual asset trading as part of the country’s new cryptocurrency framework.
According to an official filing, the program is designed to let companies try out their crypto products and services in a controlled setting under the regulatory oversight of the SEC.
The move comes after the country passed the Virtual Asset Service Providers Act, 2025, which is expected to give crypto businesses legal status in Ghana and set rules for licensing exchanges, payment platforms, and other digital asset companies.
The SEC said the sandbox is designed to support responsible innovation while protecting investors and making sure companies follow anti-money laundering and security rules.
Outlining the selected firms and their role
The companies selected for the pilot include five exchanges: Hyro Exchange, Hanypay, HSB Global, Koinkoin, and WhiteBit, according to Mensah Thompson, deputy director-general of operations at the SEC.
Three companies, Vaulta, XChain, and Bsystem, will focus on fractionalizing global assets. Africoin will work on tokenizing gold, Blu Penguin will focus on tokenizing payment systems, and GoldBod will provide custody services for gold-backed securities.
The SEC said that the pilot program will last for one year, and after six months, companies whose products meet the rules and are ready for the market may move to full licenses. Those not ready can continue testing for the remaining six months.
“This will clarify capital requirements, custody standards, governance obligations, consumer protection measures, and anti-money laundering compliance structures,” said Del Titus Bawuah, chairman of Web3 Africa Group and CEO of Hyro Exchange. The SEC added that the pilot will help them finalize rules and prepare a licensing system for all virtual asset service providers.
Why is Ghana taking this step
The initiative is aimed at bringing clarity and control to crypto trading because unregulated activity can affect the management of money and the measurement of the country’s economy.
The sandbox will allow the SEC to watch the companies and gather information to improve the rules for the industry. Unlike some countries that have paused crypto programs, Ghana is moving forward to test and license companies, showing its ambition to be a safe, regulated hub for digital assets in Africa.
Moreover, the regulatory sandbox is the first operational step since the law was passed in December 2025. Observations from the sandbox will help the SEC develop full licensing rules for virtual asset service providers. The SEC will then open the space for all companies to apply for licenses under the new law.
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