Trust, effective regulation and consumer protection have been identified as critical to Ghana’s efforts to build a responsible digital asset industry capable of attracting investment and creating jobs.
Speakers at the second edition of the Digital Asset Summit Africa (DASA) 2026 in Accra said the rapid adoption of digital financial services had created opportunities for Ghana and other African countries to harness blockchain technology, stablecoins, tokenisation and other emerging digital infrastructure.
Mr Owurieku Asare, Director of Financial Technology and Innovation at the Bank of Ghana, said Ghana’s experience with mobile money demonstrated how digital innovation could transform financial services when supported by strong institutions and public confidence.
He said mobile money transactions in Ghana had increased from about three billion, valued at approximately GH¢560 billion in 2020, to nearly 10 billion transactions valued at about GH¢4.5 trillion by 2025.
“Innovation is most effective when it is supported by strong institutions, credible regulations and public confidence,” he said.
Mr Asare said growing attention was now being paid to tokenisation, digital securities, stablecoins and digital asset custody, which he said would influence the future development of financial markets.
He noted that the Virtual Asset Service Providers Act, 2025 (Act 1154), provided the legal foundation for regulating the emerging industry and required the establishment of a Virtual Asset Coordinating Committee to enhance collaboration among regulators.
Mr Philip Kwaw Sebuabe, Head of the Virtual Assets Department at the Bank of Ghana, said trust would be fundamental to the development of a sustainable digital asset market.
He said more than three million people in Ghana were already involved in virtual asset activities, including trading, savings and value transfers, with billions of dollars in virtual asset flows linked to the country.
“The choice is no longer whether virtual assets should exist. It is whether they will develop deliberately, transparently and safely, or whether the public will navigate them alone,” he said.
Mr Sebuabe said Act 1154 established the legal basis for the registration, licensing and supervision of virtual asset service providers.
He said the Bank of Ghana, the Securities and Exchange Commission and other relevant institutions were working towards coordinated regulations based on the functions and risks associated with different virtual asset activities.
He stressed the need for operators to prioritise cybersecurity, anti-money laundering measures, sound governance and the protection of customer assets.
Mr Peter Frimpong Manso, Chief Executive Officer of ProMark Elite Limited and Convener of DASA, said Africa should build on the success of mobile money rather than seek to replace it with emerging digital asset technologies.
“The answer is not to replace mobile money, but to build on it responsibly. Blockchain, stablecoins, tokenisation and other digital infrastructure can expand access, unlock investments and create new opportunities,” he said.
He said innovation must advance alongside regulation, consumer protection and trust, noting that the summit had brought together regulators, policymakers, financial institutions, technology companies, investors, academics and young innovators to explore ways of developing a responsible digital asset ecosystem.
Mr Manso said the theme for the summit, “From Policy to Prosperity: Scaling Digital Assets for Investment, Jobs and Economic Growth in Africa,” reflected the need to convert regulatory and policy developments into tangible economic opportunities.
He also announced opportunities for African startups through the Startup World Cup regional competition, with the winning startup expected to represent Africa at the global finals in San Francisco for a chance to secure a $1-million investment prize.
Mr Sebuabe further called for greater cooperation among African regulators, stressing that digital assets and the risks associated with them crossed national borders.
He said while technology could change how value was represented and transferred, it did not remove the responsibility to safeguard the financial system and protect users.
“Technology may change how value is represented or transferred, but it does not remove the obligation to protect Ghana’s financial system and its people,” he added.
