The Bank of Ghana (BoG) has clarified that digital innovation, and virtual assets will not sideline or weaken the Ghana cedi, assuring the public that the local currency remains central to the country’s monetary system.

The Acting Head of FinTech and Innovation at the Bank, Owuraku Asare, said digital financial developments are intended to complement not undermine the cedi.

“Digital innovation is not designed to relegate the Ghana cedi,” he stated. “Our mandate is to ensure that innovation happens within a regulated framework that protects monetary stability and safeguards the financial system.”

He made the remarks at the inaugural Ghana Virtual Assets and Financial Services Symposium organised by the Chamber of Digital Assets Ghana and Blockchain Innovation (CDABI), Ghana Chapter.

Mr. Owuraku emphasised that while virtual assets and blockchain technologies present new opportunities, they must operate within clearly defined regulatory boundaries.

“We are open to innovation, but it must be responsible innovation. The Bank of Ghana will continue to engage stakeholders to ensure financial stability is not compromised,” he added.

Meanwhile, the President of the Chamber, Caleb Kweku Afaglo, stressed the need for Ghana to strategically tap into the growing digital assets ecosystem to support economic growth.

“Ghana cannot afford to be left behind in the digital assets space,” he said. “With the right policies and collaboration between regulators and industry players, this sector can contribute significantly to job creation, investment inflows and financial inclusion.”

He noted that blockchain innovation and virtual assets present an opportunity for Ghana to strengthen its digital economy while aligning with global financial trends.

The symposium brought together regulators, fintech operators, policymakers and industry stakeholders to explore how Ghana can leverage digital innovation while safeguarding monetary and financial stability.