Ghana Launches Crypto Regulatory Sandbox: 11 Crypto Companies Approved for Pilot Programs, Accelerating Market Expansion in Africa

March 11 News: The Ghana Securities and Exchange Commission (SEC) has approved 11 cryptocurrency companies to join the country’s newly launched regulatory sandbox program. This move is seen as an important step in Ghana’s efforts to develop a digital asset regulatory framework. The program is based on the Virtual Asset Service Provider Act (VASP), passed in December 2025, which aims to provide a clearer regulatory environment for the local crypto industry and test innovative products in a controlled setting.

According to the regulator, the companies approved to enter the sandbox include Africoin, Blu Penguin, Goldbod, Hanypay, Hyro Exchange, HSB Global, KoinKoin, Whitebits, Vaulta, XChain, and Bsystem. These platforms will operate under SEC supervision and must comply with anti-money laundering and counter-terrorism financing rules to ensure market safety and investor protection.

The regulatory sandbox is expected to last 12 months. However, if companies perform well during the pilot phase and meet regulatory requirements, they can apply for full licensing as early as six months later. The regulator stated that the experience gained during the pilot will inform future cryptocurrency regulation policies. Under the VASP law, all digital asset service providers must obtain a license or register with Ghanaian banks or the SEC to operate legally.

Meanwhile, international crypto companies are accelerating their entry into the Ghanaian market. Blockchain.com recently announced the official expansion of its local operations and plans to focus on building crypto payment infrastructure. A company representative said that, due to the widespread adoption of mobile payments in Ghana, integrating with local mobile payment systems will be a key development focus.

Regionally, the African crypto market is expanding rapidly. Blockchain analysis firm Chainalysis data shows that from July 2024 to June 2025, the total value of crypto transactions in Sub-Saharan Africa increased by 52% year-over-year, reaching $205 billion. Nigeria’s trading volume exceeded $92 billion, dominating the market, while South Africa, Ethiopia, Kenya, and Ghana are also emerging as significant growth markets.

Industry experts believe that Ghana’s launch of a regulatory sandbox and the introduction of compliance frameworks could further enhance transparency and attractiveness in Africa’s digital asset sector, while also promoting crypto payments and blockchain innovation in the local market.