Accra, Nov. 6, GNA – WhiteBIT, a global cryptocurrency exchange, has called for greater focus on the practical applications of digital assets to support businesses, financial institutions and economic development in Ghana.
The company said blockchain technology offered opportunities beyond cryptocurrency trading, including international payments, real-world asset tokenisation, property ownership verification and capital market operations.
Mr Fred Frimpong, Country Manager of WhiteBIT Ghana, highlighted the opportunities at the AVAS 2026 Summit, where the company is the headline sponsor, as Ghana advances its regulatory framework for digital assets.
He said the country’s growing adoption of cryptocurrencies presented an opportunity to explore how blockchain-based solutions could improve financial services, facilitate investment and enhance business operations.
He explained: “Crypto adoption is only the beginning. The real opportunity for Ghana lies in exploring how digital assets can support businesses, expand access to investment, and make financial services more efficient.
“Achieving this requires not only technology, but also collaboration between industry participants, financial institutions, and regulators.”
WhiteBIT Ghana was admitted into the Securities and Exchange Commission’s (SEC) virtual asset regulatory sandbox in March 2026, marking a step in the company’s engagement with Ghana’s evolving digital asset ecosystem.
The exchange serves approximately 10 million users globally, while the wider W Group fintech ecosystem reaches more than 40 million users across businesses involved in digital asset trading, blockchain infrastructure, payments and financial services.
Ghana has emerged as one of sub-Saharan Africa’s significant cryptocurrency markets, reflecting increasing interest in digital assets across the region.
According to Chainalysis’ 2026 Geography of Cryptocurrency Report, Ghana’s cryptocurrency economy grew by 80 per cent year-on-year to $5.1 billion between July 2025 and June 2026, driven by increased activity across centralised and decentralised exchanges.
Across sub-Saharan Africa, cryptocurrency activity reached $101 billion, representing annual growth of 13.4 per cent and making the region the fastest-growing cryptocurrency market globally during the period.
The International Monetary Fund’s September 2026 report also identified Ghana as the fifth-largest cryptocurrency market in sub-Saharan Africa, estimating that between eight and 17 per cent of the population had bought or sold digital assets.
Annual cryptocurrency transactions in the country are estimated at approximately $21 billion.
Analysts, however, note that the growing adoption of digital assets presents the challenge of translating cryptocurrency activity into financial services that deliver practical economic benefits.
According to them, although trading and stablecoin usage remain prominent, applications such as asset tokenisation and institutional blockchain-based services are still developing.
To address these, Mr Frimpong at the summit session outlined how blockchain technology could help address practical financial challenges, particularly in cross-border trade and investment.
Using an example of an importer in Accra purchasing goods from Istanbul, he explained that conventional international payment processes could involve settlement periods of three to five business days and currency conversion costs of up to 10 per cent in the scenario presented.
Blockchain-based payment infrastructure, he said, could potentially shorten settlement periods, reduce transaction costs and improve businesses’ access to working capital.
WhiteBIT’s institutional trading and over-the-counter (OTC) liquidity services, together with its digital asset payment infrastructure, officials say, provide technological capabilities relevant to exploring such opportunities.
Another application highlighted was real-world asset tokenisation, which allows ownership interests or rights associated with physical assets to be digitally represented.
The approach, they said, could potentially enable individuals to participate in commercial real estate investment with smaller amounts, such as GH¢500, through fractional ownership.
Similar applications could be explored for assets such as gold and cocoa, potentially creating new financing and investment opportunities.
Mr Frimpong also identified property ownership verification and capital market operations as areas where blockchain technology could offer benefits.
These include tokenised bonds, automated financial processes and more efficient regulatory reporting.
“Whitechain, the W Group’s blockchain network, provides infrastructure for exploring such applications,” he assured.
“Their practical implementation, however, would depend on local regulatory requirements, institutional partnerships and market readiness.”
WhiteBIT and W Group emphasised that Ghana presents an opportunity to combine international technological expertise with local collaboration to explore the next generation of digital financial services.
“As the country’s regulatory framework develops, the industry faces the task of translating growing digital asset adoption into practical solutions that support businesses, broaden financial participation and contribute to economic development.”
WhiteBIT is a global cryptocurrency exchange ranked among the leading platforms by user traffic.
It offers more than 1,020 trading pairs, over 360 digital assets and supports 10 fiat currencies.
Founded in 2018, the platform serves 10 million users across six continents and more than 150 countries and forms part of W Group, which has more than 40 million customers globally.
WhiteBIT collaborates with Visa, FACEIT, FC Barcelona, Juventus FC and the Ukrainian national football team.
The company says it is committed to promoting the widespread adoption of blockchain technology worldwide.
GNA
Edited by Beatrice Asamani Savage