Ghana’s Securities and Exchange Commission (SEC Ghana) has expanded its virtual asset regulatory sandbox to 20 firms, up from 11 when the programme launched in March 2026.
The SEC added nine companies in an updated list published on August 19 2026, broadening the sandbox to cover crypto trading, brokerage, tokenisation, trade finance and commodities markets.
REGULATION | SEC Ghana Announces 11 Participants in Virtual Asset Regulatory Sandbox
The 20 participants are:
Africoin
The Blue Penguin Company Limited (Blu Penguin)
Ghana Gold Board (Goldbod)
HanyPay
Hyro Exchange
HSB Global
KoinKoin
WhiteBit
Vaulta
XChain
Bsystem
GFX Brokers
One Africa Securities
WeWire Ghana
Sage Advance Global Services
Mojo Pay Ghana
Yellow Card Ghana
Ghana Commodities Exchange
Mamoru Digital Ghana
BSystems
The new entrants include:
Yellow Card Ghana, one of Africa’s largest crypto platforms, as well as
GFX Brokers, which is testing tokenised Treasury bills;
One Africa Securities, focused on tokenised bonds; and
WeWire Ghana, which is testing trade-finance tokenisation.
The expansion comes as Ghana prepares to move from its sandbox-based approach toward permanent, activity-based licensing under the Virtual Asset Service Providers Act, 2025 (Act 1154).
REGULATION | Ghana Launches Crypto Regulatory Sandbox and Admits 6 Entities to ‘Validate Proposed Regulatory Frameworks’
The 12-month sandbox is designed to give regulators real-world data on crypto exchanges, brokerage, custody and tokenisation before finalising the licensing framework. Firms that demonstrate market readiness and meet regulatory requirements can transition to full licences after six months.
Ghana is therefore moving beyond simply regulating crypto exchanges. The latest cohort shows a broader regulatory focus on tokenised securities, Treasury bills, gold, trade finance and commodities, pointing to an attempt to build a regulated digital-asset market around both crypto and traditional financial assets.
STABLECOINS | ‘Ghana, Rwanda, Namibia, Senegal, Côte d’Ivoire Among Strongest Candidates for Local-Currency Stablecoins,’ Says StanChart
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