Ghana ranks fifth in sub-Saharan Africa for crypto adoption, with annual transactions estimated at $21bn
Ghana is the fifth largest crypto market in sub-Saharan Africa with adoption increasing. Data suggests that between 8% and 17% of the population have bought or sold crypto with estimated annual crypto transactions around $21 billion. According to a report by the International Monetary Fund, stablecoins are rapidly growing, but the main use cases remain […]
Ghana has emerged as the fifth largest cryptocurrency market in sub-Saharan Africa, with an estimated annual transaction value of $21 billion, according to a report by the International Monetary Fund. The adoption of cryptocurrencies in the country is on the rise, with between 8% and 17% of the population having engaged in buying or selling crypto.
Stablecoins, a type of cryptocurrency, are experiencing rapid growth, but their primary use cases remain in crypto trading and as a hedge against inflation. The IMF report, titled "Regulation and Supervision of Crypto Markets and Activities," suggests that the use of stablecoins in retail remittances is still negligible, but may grow in the future.
In December 2025, Ghana passed legislation on crypto markets and activities, including stablecoins, through the Virtual Asset Service Providers Act 2025. This Act grants the Bank of Ghana and the Securities and Exchange Commission the power to regulate crypto markets and activities. The report was published during a technical assistance mission conducted by the Monetary and Capital Markets department, which reviewed the prudential and conduct frameworks for crypto asset service providers and stablecoin arrangements against global standards and recommendations set by international organizations.
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