Ghana is moving to formalize its fast-growing crypto market, launching a regulated sandbox for virtual asset firms as Blockchain.com enters the country with plans to link digital assets to Ghana’s widely used mobile money ecosystem.
Blockchain.com Targets Mobile Money Integration
Blockchain.com, one of the industry’s longest-running crypto companies, announced it has expanded into Ghana with a focus on connecting crypto payments to the nation’s mobile money infrastructure. Mobile money is deeply embedded in everyday transactions across Ghana, and tying crypto rails to that network could streamline on- and off-ramps for consumers and businesses.
SEC Admits 11 Firms to New Crypto Sandbox
Ghana’s Securities and Exchange Commission (SEC) has named 11 companies approved to operate in a new regulatory sandbox, the country’s first structured program for testing crypto products under supervision. The SEC’s move follows passage of the Virtual Asset Service Providers Act (Act 1154) in December, which granted the regulator authority over digital asset activity.
- Africoin
- Blu Penguin
- Goldbod
- Hanypay
- Hyro Exchange
- HSB Global
- KoinKoin
- Whitebits
- Vaulta
- XChain
- Bsystem
Under the law, any entity operating in the digital asset sector must be licensed or registered with the SEC or the Bank of Ghana.
Twelve-Month Pilot With Licensing Path
The sandbox will run for 12 months. According to the SEC, firms that complete product testing and meet all requirements could obtain a full license in as little as six months. Participants must comply with anti-money laundering and counter-terrorism financing standards, and consumer protection measures are built into the program. The SEC said insights gathered during the pilot will inform Ghana’s longer-term crypto rulemaking.
Regional Context: Everyday Crypto Use on the Rise
Ghana ranks among the top five crypto markets in Sub-Saharan Africa, alongside Nigeria, South Africa, Ethiopia, and Kenya. The region recorded more than $200 billion in crypto inflows between July 2024 and June 2025, up over 50% year-on-year, according to data from Chainalysis. Nigeria led with more than $90 billion received during that period. Most transactions across the region are under $1,000—signaling everyday, retail-driven activity—with stablecoins commonly used for cross-border payments and as a hedge against currency volatility.
Ghana’s sandbox launch, combined with foreign entrants and local platforms operating under closer oversight, marks a shift from observation to implementation as the country builds a durable regulatory framework for digital assets.