Ghana’s fintech industry is being urged to take a bold step toward adopting stablecoins — blockchain-based digital currencies as a tool to revolutionise cross-border payments and strengthen the country’s digital economy.
At the 2025 Fintech Stakeholder Forum in Accra, two leading voices in technology and financial innovation — Selorm Branttie, Vice-President of IMANI Centre for Policy and Education, and Mrs Sylvia Otuo-Acheampong, Chief Product and Services Officer at MTN Mobile Money LTD (MML) — called for an urgent national conversation on integrating stablecoins into Ghana’s financial system.
Held under the theme “Harnessing Ghana’s Fintech Potential: Regulatory Frameworks for Digital Credit and Digital Assets,” the forum brought together regulators, fintech firms, banks, policy experts, and academia to deliberate on how Ghana can strengthen digital payments and ensure responsible innovation in the growing fintech space.
The $3bn crypto opportunity
Delivering his remarks, Selorm Branttie revealed that Ghana’s cryptocurrency economy, though largely informal, represents a $3 billion annual market.
He estimated that 3.4 million Ghanaians, roughly 17 per cent of adults, are engaged in crypto transactions — mostly using mobile money to convert between digital and fiat currencies.
“This is a massive informal economy that’s operating outside regulatory oversight,” he said.
“If properly guided, it could create enormous opportunities for innovation, revenue generation, and financial inclusion.”
Branttie argued that adopting stablecoins could bring order, transparency, and stability to this volatile space.
“A national stablecoin strategy should be a priority,” he said.
“It would allow Ghana to formalise this $3 billion market, minimise risk, and open doors for new financial services.”
He added that stablecoins, unlike speculative cryptocurrencies such as Bitcoin, are pegged to stable assets like the dollar or gold, making them ideal for cross-border trade, remittances, and digital commerce.
“Stablecoins bridge the gap between traditional finance and the digital economy,” he explained.
“They can integrate seamlessly with mobile money platforms, support transparent transactions, and attract innovation within regulated boundaries.”
MTN pushes for regional integration
Echoing the call for action, Sylvia Otuo-Acheampong of MTN Mobile Money Limited said the next phase of fintech innovation in Ghana would depend on cross-border interoperability, and stablecoins offer the best foundation for achieving it.
“Cross-border payments are one of the key benefits of stablecoin adoption,” she said.
“Crypto is inherently multi-jurisdictional, and our systems must evolve to match that reality.”
Mrs. Otuo-Acheampong disclosed that MTN Mobile Money has already received several proposals from fintech innovators exploring stablecoin-powered remittance and payment models. She said MTN is actively reviewing these concepts as part of its broader push to encourage secure, transparent, and borderless digital transactions.
Fintech’s next growth engine
Globally, the fintech market is projected to hit $400 billion by 2028, with digital lending alone expected to reach $1.3 trillion.
Both Branttie and Mrs Otuo-Acheampong argued that Ghana must tap into this momentum by creating a framework that supports digital assets, blockchain infrastructure, and interoperability.
Building trust and security
Beyond efficiency, both experts emphasised that stablecoins could also help rebuild public trust in digital transactions.
With increasing reports of mobile money fraud and data breaches, blockchain-based systems — which are transparent and immutable — could enhance accountability in Ghana’s financial ecosystem.
Mrs Otuo-Acheampong noted that integrating stablecoins could also help address issues of Know Your Customer (KYC) compliance, identity verification, and credit scoring, which remain weak spots in Ghana’s financial inclusion drive.
From regulation to innovation
While acknowledging the BoG’s cautious stance on cryptocurrencies, Branttie argued that stablecoins should be treated differently from speculative digital assets.
He called for progressive regulation that differentiates between high-risk crypto trading and asset-backed digital payment systems.
Both Branttie and Otuo-Acheampong agreed that the future of finance is digital, borderless, and data-driven, and Ghana must adapt swiftly to remain competitive.
The discussions from the 2025 Fintech Stakeholder Forum have set the stage for what could become one of Ghana’s most significant financial policy debates — whether the country should anchor its digital future on stablecoins.
