SEC and GoldBod partner to pilot gold-backed digital assets

In a significant move to modernize Ghana’s capital market, the Securities and Exchange Commission (SEC) has announced a partnership with the Ghana Gold Board (GoldBod) to pilot innovative financial products, including gold-backed securities and tokenised gold assets.

The announcement was made alongside the SEC’s admission of 11 companies into its regulatory sandbox to test virtual asset and fintech products under the new Virtual Asset Service Providers Act, 2025.

Mr. Mensah Thompson, Deputy Director-General for Finance at the SEC, explained that the collaboration is part of a broader regulatory framework being developed to support emerging financial technologies tied to the country’s gold resources. Under this framework, GoldBod will act as the custodian of the physical gold underpinning these securities. Their responsibilities will include assaying, verification, and vaulting, as well as providing regular reports to the SEC.

This initiative is expected to pave the way for gold-backed derivatives and tokenised gold products. As part of the pilot, GoldBod will launch a gold tokenisation project through a special purpose vehicle, allowing regulators to test the concept and develop appropriate guidelines for issuance and trading. The 12-month sandbox program will provide practical insights into integrating digital assets with physical commodities, ensuring transparency and investor protection while leveraging Ghana’s gold reserves for financial innovation.

The 11 firms admitted into the sandbox are: Africoin, Blu Penguin, GoldBod, HanyPay, Hyro Exchange GH Ltd, HSB Global, KoinKoin, Whitebit, Vaulta, XChain, and BSystem Ltd.