UMB becomes first bank approved by BoG and SEC to offer virtual accounts

Universal Merchant Bank (UMB) has become the first bank in Ghana to receive approval from both the Bank of Ghana (BoG) and the Securities and Exchange Commission (SEC) to offer virtual accounts to eligible businesses operating within the emerging virtual asset ecosystem. This significant step in Ghana’s evolving financial landscape reflects a deliberate strategy by UMB to identify emerging opportunities, build the necessary infrastructure, and work with regulators to ensure innovation develops within a sound and sustainable regulatory framework.

The approval positions UMB at the forefront of Ghana’s digital economy, allowing the bank to engage eligible virtual asset businesses, Fintechs, technology companies, and other participants seeking access to regulated banking infrastructure.

Brief written by urgent.news from MyJoyOnline Ghana's own syndicated text. Machine-written — may contain errors; check the original before relying on it.