WeWire joins Ghana SEC sandbox to pilot trade finance tokenisation

Ghana-founded fintech company WeWire has been admitted to the Securities and Exchange Commission (SEC) Virtual Assets Regulatory Sandbox. The company intends to pilot the tokenisation of trade finance instruments using blockchain technology.

The initiative aims to convert trade finance tools, such as invoices or letters of credit, into digital tokens. By doing so, WeWire seeks to create a more transparent and efficient system for the clearing of capital and the settlement of trade transactions. According to CEO Eben Ghanney, the goal is to reduce the friction, costs, and barriers currently associated with moving goods and money across African borders.

This pilot follows WeWire’s previous collaboration with the Bank of Ghana through its own regulatory sandbox. The company stated that the move demonstrates the ability of African fintech firms to develop innovative solutions that meet international regulatory standards while addressing continent-specific challenges.