SEC Explains Inclusion of GoldBod in Virtual Asset Regulatory Sandbox; Eyes Gold-Backed Securities and Tokenisation
The Securities and Exchange Commission has provided clarification on the participation of the Ghana Gold Board in its recently launched Virtual Asset Regulatory Sandbox, following concerns over why the state gold trading agency appears alongside cryptocurrency and fintech companies in the programme.
According to the Commission, GoldBod’s inclusion is linked to ongoing efforts to develop innovative financial instruments backed by gold, including gold-backed securities, derivatives, and the possible tokenisation of gold within Ghana’s capital market ecosystem.
Deputy Director of the Commission, Mensah Thompson, explained that the arrangement is consistent with the provisions of the GoldBod Act, which grants the board exclusive authority over the trading, export and custody of gold in Ghana.
“The GoldBod Act monopolises the trading, export and custody of gold in Ghana with GoldBod. The framework we are currently developing will position GoldBod as the sole custodian of all gold-backed securities in Ghana in line with the GoldBod Act,” he stated in a Facebook post on Wednesday, March 11, 2026.
He further noted that the board will be responsible for assaying, verification and vaulting of the gold that will underpin the securities, while also submitting periodic reports to the Commission as stipulated under the proposed framework.
The clarification comes after the Commission admitted 11 firms into the regulatory sandbox to test digital asset and financial technology products under the Virtual Asset Service Providers Act, 2025.
The sandbox initiative will run for a period of 12 months, providing participating companies with the opportunity to pilot their services within a controlled environment as the regulator assesses operational risks and develops final licensing guidelines for the industry.
Companies admitted into the programme include Africoin, Blu Penguin, GoldBod, HanyPay, Hyro Exchange GH Ltd, HSB Global, KoinKoin, Whitebit, Vaulta, XChain and BSystem Ltd.
Under the emerging framework, GoldBod is expected to spearhead a gold tokenisation pilot through a special purpose vehicle while serving as custodian of the physical gold backing the securities.
The initiative is expected to assist the Commission in developing regulatory guidelines for gold-backed securities and tokenised gold assets within Ghana’s capital market.
