Ghana's Crypto Sandbox Nearly Doubles in Size as Regulator Adds Nine New Firms
Ghana's Securities and Exchange Commission has expanded its crypto regulatory sandbox from 11 to 20 firms to better test tokenization and virtual asset products. The new cohort includes established players like Yellow Card and focuses on diverse use cases such as tokenized bonds and treasury bills.
Why it matters
This expansion provides regulators with critical data to finalize licensing frameworks, signaling a maturing digital asset market in West Africa.
Ghana’s Securities and Exchange Commission has almost doubled the roster of companies allowed to test crypto and tokenization products under its regulatory watch, expanding the Virtual Asset Sandbox from 11 firms in March to 20.
The updated list, published in a public notice dated August 19, adds nine companies that were not part of the original cohort announced in March:
The notice also renames several original participants — Blu Penguin is now listed as “The Blue Penguin Company Limited,” and Goldbod appears as “Ghana Gold Board.”
The original March cohort leaned heavily toward tokenization and exchange platforms. The expanded list adds depth in categories the SEC had flagged as priorities: virtual asset brokerage, now covering three firms — Mansu Technologies, Sage Advance, and Mojo Pay — and a commodities-focused exchange license for Ghana Commodities Exchange.
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