The Securities and Exchange Commission (SEC) Ghana has admitted 11 companies into its regulatory sandbox to pilot Virtual Asset and Financial Technology products under the Virtual Asset Service Providers Act, 2025.
The sandbox will run for 12 months, allowing participating firms to test their services in a controlled regulatory environment while the Commission evaluates risks and finalises licensing rules for the sector.
According to the SEC, companies whose products meet regulatory requirements within the first six months could transition into full activity-based licences, while others may continue testing for the remaining period.
Firms admitted into the sandbox include Africoin, Blu Penguin, GoldBod, HanyPay, Hyro Exchange GH Ltd, HSB Global, KoinKoin, Whitebit, Vaulta, XChain and BSystem Ltd.
The inclusion of the Ghana Gold Board (GoldBod) has drawn attention due to the platform’s focus on cryptocurrencies.
However, Deputy Director-General for Finance at the SEC, Mensah Thompson, explains that the regulator is working with GoldBod on innovative products involving gold-backed securities, derivatives and tokenisation of gold.
Under the framework being developed, GoldBod will act as the custodian of gold underlying such securities, handling assaying, verification, and vaulting while providing periodic reports to the SEC.
As part of the sandbox programme, GoldBod is expected to pilot a gold tokenisation initiative through a special purpose vehicle, which will help regulators develop guidelines for gold-backed securities and tokenised gold assets in Ghana’s capital market.
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