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- Ghana launches a 12-month crypto sandbox to test virtual asset services under SEC oversight.
- Eleven firms join the pilot as regulators refine licensing rules for virtual asset providers.
- Sandbox insights will guide Ghana’s full crypto framework aimed at safer digital asset activity.
Ghana’s Securities and Exchange Commission (SEC) has launched a crypto regulatory sandbox for 11 companies. The program will run for 12 months. Firms will test virtual asset products under strict oversight. This marks the first operational phase of the country’s new digital asset framework.
According to the filing, the SEC said the sandbox gives companies a controlled environment. They can test products with clear guidelines. The initiative supports responsible innovation. It also strengthens investor protection and enforces compliance requirements.
Roles of Selected Crypto Firms
The program follows the Virtual Asset Service Providers Act, 2025. The law creates rules for licensing exchanges and other virtual asset firms. It sets operational standards. It also establishes expectations for consumer safeguards and security procedures.
Five exchanges joined the pilot. These are Hyro Exchange, Hanypay, HSB Global, Koinkoin, and WhiteBit. Their participation was confirmed by SEC deputy director-general of operations Mensah Thompson.
Three firms will focus on fractionalized assets. They are Vaulta, XChain, and Bsystem. Their platforms will test ways to give users access to portions of global assets.
Africoin will test a system for tokenized gold. Blu Penguin will trial tokenized payment models. GoldBod will offer custody services for gold-backed securities. Each firm will operate under defined limits set by the SEC.
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The sandbox lasts one year. At the six-month review, the SEC will assess readiness. Firms that meet requirements may advance toward full licensing. Those that need more work may continue testing for the remaining period.
Sandbox Data to Shape Ghana’s Full Licensing Framework
Hyro Exchange CEO Del Titus Bawuah stated that this will provide clarity on essential requirements. These are related to capital requirements, custody arrangements, governance responsibilities, and consumer protection. He stated that this will help companies get ready for full compliance.
According to the SEC, data from the sandbox will be used to develop their licensing system. The data they collect from the sandbox will be essential in developing rules for virtual asset service providers. This will provide better clarity in overseeing this space.
Ghana has adopted this sandbox as part of measures to deal with risks related to unregulated activities in digital assets. The SEC stated that unregulated activities can have an impact on economic measurement and financial stability.
This is the first step since the law passed in December 2025. After this, they will evaluate and open up licensing applications. All qualified companies can then apply under this new system.
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