Bank of Ghana (BoG) Governor Dr Johnson Pandit Asiama has called for a balanced regulatory approach to virtual assets and tokenisation, emphasising that trust, financial stability and consumer protection must underpin Ghana’s evolving digital asset ecosystem.
He said virtual assets and tokenisation presented significant opportunities to transform Ghana’s financial system by improving access to finance, reducing transaction costs, accelerating cross-border payments and creating new investment opportunities.
Speaking at the Africa Virtual Assets Summit (AVAS) 2026 at the Kempinski Hotel Gold Coast City in Accra on Monday, November 2, Dr Asiama said technological innovation must be deliberately shaped to ensure that its benefits reached more people without compromising financial stability and public confidence.
He cited Ghana’s growing digital financial services sector, noting that mobile money platforms processed more than one billion transactions valued at approximately GH¢519 billion in August 2026 alone.
According to him, the scale of mobile money adoption demonstrated Ghana’s capacity to embrace financial technology and provided a foundation for the next phase of digital financial transformation.
Dr Asiama said virtual assets could help address longstanding challenges in African economies, including limited access to capital, high transaction costs, fragmented financial infrastructure and barriers to cross-border payments and investment.
He explained that virtual asset infrastructure could make diaspora remittances faster and cheaper, while digital settlement systems could facilitate trade under the African Continental Free Trade Area (AfCFTA).
On tokenisation, the theme of the summit, the Governor said representing ownership or rights to assets such as securities, commodities and trade receivables in digital form could expand financing opportunities for small businesses.
He noted that the technology could enable exporters to access financing earlier, reduce settlement periods from days to minutes and provide smaller enterprises with alternative channels for raising capital.
However, he cautioned that virtual assets and tokenisation should not be pursued merely for technological advancement, stressing that their ultimate value should be measured by their ability to address real economic challenges.
Stablecoins and financial stability
Dr Asiama identified financial stability and public confidence as essential conditions for the sustainable development of Ghana’s digital asset ecosystem.
He warned that the growing adoption of stablecoins, particularly those denominated in foreign currencies, could have implications for monetary sovereignty, currency substitution, capital flows and the effectiveness of monetary policy.
Although stablecoins could offer benefits for payments and settlement, he said their development must support rather than undermine monetary and financial stability, including confidence in the Ghana cedi.
The Governor advocated a proportionate regulatory framework that reflects the nature, scale and complexity of different virtual asset activities rather than imposing unnecessary restrictions on innovation.
He identified consumer and investor protection, the safeguarding of customer assets, financial integrity and sound connections with the traditional financial system as critical elements for building trust.
“Trust is not the opposite of innovation; it is what allows innovation to grow,” he said.
Ghana strengthens regulatory framework
Dr Asiama said Ghana was making progress towards establishing a comprehensive regulatory environment for virtual assets following the passage of the Virtual Asset Service Providers Act, 2025 (Act 1154).
The legislation establishes a dedicated legal framework for virtual assets, with coordinated regulatory responsibilities involving the Bank of Ghana and the Securities and Exchange Commission (SEC).
He, however, stressed that the passage of the law was only the beginning, adding that its effective implementation would determine whether Ghana could provide the certainty needed by responsible businesses and investors.
He disclosed that the Bank of Ghana was developing a Stablecoin Directive to establish clear requirements for stablecoin-related activities in the country while providing clarity on permitted operations.
The central bank is also collaborating with the SEC and the Financial Intelligence Centre to develop the necessary regulatory instruments and supervisory arrangements.
Dr Asiama further identified the inauguration of the Virtual Assets Coordinating Committee as an important step towards strengthening cooperation among public institutions responsible for regulating the sector.
Building an inclusive digital economy
The Governor said Ghana’s ambition should be to develop a financial system that was more inclusive, efficient and resilient, allowing traders, farmers, entrepreneurs and technology developers to benefit from faster, cheaper and safer financial services.
He said the country’s collective responsibility extended beyond creating a digital asset market to building an ecosystem that could attract investment while protecting consumers and supporting economic development.
“Our collective task is not simply to build a digital asset market. It is to build an ecosystem that is safe enough to be trusted, inclusive enough to serve our people, and innovative enough to support Africa’s future,” he said.
Dr Asiama commended the SEC for organising the summit and acknowledged its continued collaboration with the Bank of Ghana in developing the country’s emerging virtual asset ecosystem.
The Africa Virtual Assets Summit 2026 brought together regulators, industry leaders, representatives of international organisations and other stakeholders to discuss the future of virtual assets and tokenisation in Africa.
The summit was held under the theme, “Tokenisation: Africa’s Pathway to a Trusted, Inclusive and Innovative Digital Asset Ecosystem.”
Source: www.kumasimail.com
