The central bank of Ghana has launched a FinTech regulatory and innovation live testing pilot, which will prioritize blockchain-based projects.
The sandbox, according to a press release by the central bank of Ghana, will cover a wide range of innovations in the financial services sector.
Furthermore, the sandbox will also improve financial inclusion in the country.
The bank is also looking for remittance and crowdfunding products and services.
As well as electronic KYC platforms and new merchant payment solutions for small and medium-sized businesses.
According to Carmelle Cadet, EMTECH’s founder and CEO, the sandbox was launched in partnership with FinTech company EMTECH.
EMTECH will provide the underlying technology for Bank of Ghana to operate the regulatory and innovation sandbox.
The Bank of Ghana also noted that the project is one of the ways it expects to close the country’s financial inclusion gap.
The bank also indicated that organizations with innovations that meet the criteria can submit an application for evaluation and consideration.