Zimbabwean payments company, Wiremit, says it has become the country’s first regulated cryptocurrency firm marking a milestone in the government’s efforts to bring digital asset businesses under formal financial oversight.
The announcement follows Zimbabwe’s introduction of a dedicated regulatory framework for virtual asset service providers (VASPs) in June 2026. Under Statutory Instrument 99 of 2026, businesses involved in cryptocurrency trading, transfers, and custody must register with the Financial Intelligence Unit (FIU), the anti-money laundering arm of the Reserve Bank of Zimbabwe.
About 4 months ago, Zimbabwe has introduced its first dedicated regulatory framework for cryptocurrency businesses requiring all Virtual Asset Service Providers (VASPs) to register with the Financial Intelligence Unit (FIU) as authorities seek to bring the country’s largely informal digital asset sector under anti-money laundering oversight.
REGULATION | Zimbabwe Brings Crypto Firms Under Formal Oversight With New VASP Rules
The regulations require annual registration with an initial fee of $500 and a renewal fee of $400. Operating without the required registration is an offence under the new framework.
Zimbabwe’s regulatory shift follows years of uncertainty over cryptocurrency businesses.
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In 2018, authorities barred banks and other financial institutions from facilitating crypto transactions pushing much of the market towards peer-to-peer trading and informal channels.
Cryptocurrency demand has persisted amid the country’s history of monetary instability, currency changes, and limited confidence in traditional financial services. Digital assets have also provided alternative channels for storing value and transferring money across borders.
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The new framework seeks to formalise these activities while strengthening safeguards against money laundering and terrorist financing.
Registered providers must meet customer due diligence, record-keeping, and suspicious-transaction reporting requirements alongside obligations under the Financial Action Task Force’s Travel Rule, which requires identifying information about parties to covered crypto transfers to be collected and transmitted.
Wiremit operates in the payments and remittances market positioning its services around international money transfers and financial inclusion. The company lists operations across several markets, including
Zimbabwe,
Mozambique,
South Africa,
Ghana, and
Zambia.
The company’s announcement, however, should be distinguished from the broader regulatory framework: the FIU has said that registration for anti-money-laundering purposes does not, by itself, constitute authorisation to conduct business. Depending on the services offered, providers may need additional licences or approvals from the Reserve Bank of Zimbabwe, the Securities and Exchange Commission of Zimbabwe, or other relevant authorities.
Zimbabwe’s approach reflects a wider shift across Africa where regulators are developing frameworks for crypto businesses as digital asset use expands. Sub-Saharan Africa received more than $205 billion in on-chain cryptocurrency value between July 2024 and June 2025, a 52% increase from the previous year, according to Chainalysis data.
REPORT | Sub-Saharan Africa is the 3rd Fastest-Growing Region Globally in OnChain Value
For Zimbabwe, the challenge will be to bring existing operators into the formal system while establishing clear requirements for consumer protection, financial crime controls and legitimate digital asset activity.
Wiremit’s claim to be Zimbabwe’s first regulated crypto firm could therefore signal an early test of the new regime although the designation has not been independently verified.
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