OmniBSIC Bank Ghana has opened exploratory discussions with virtual asset firm KoinKoin Ghana over a potential collaboration that could bring digital asset services closer to mainstream banking customers.
The discussions come as Ghana strengthens its regulatory framework for virtual assets, creating opportunities for traditional financial institutions to explore partnerships with regulated digital asset providers.
While the talks are ongoing, neither institution has announced a formal agreement or product. Any potential collaboration would be subject to due diligence, internal approvals and applicable regulatory requirements.
If concluded, the arrangement could combine OmniBSIC’s banking infrastructure and customer relationships with KoinKoin’s virtual asset technology and market expertise.
Ghana’s regulatory framework creates room for collaboration
The discussions follow the passage of Ghana’s Virtual Asset Service Providers Act, 2025 (Act 1154), which establishes a statutory framework for virtual asset activities and defines regulatory responsibilities for the Bank of Ghana and the Securities and Exchange Commission (SEC Ghana).
KoinKoin Ghana operates under a Virtual Asset Regulatory Sandbox Licence issued by SEC Ghana as part of the regulator’s first cohort of virtual asset exchanges.
The company says its work within the sandbox has focused on developing operational and compliance standards that can support engagement with established financial institutions.
“Act 1154 gave Ghana the rules. Now banks and providers have to show those rules working in practice,” said Mimi Kufuor, CEO of KoinKoin Ghana.
“Our work in the SEC Ghana sandbox has been about proving that a virtual asset exchange can meet the standards a bank expects of any partner, and that is what makes a conversation like this possible.”
The regulatory framework provides a basis for institutions to assess how virtual asset services can operate within existing financial sector requirements. However, the proposed collaboration would still need to meet the relevant regulatory and institutional conditions before any service could be introduced.
Potential use cases for customers
Although the scope of the discussions has not been disclosed, areas under consideration could include access to digital assets through banking channels, customer onboarding, compliance integration and services for corporate and diaspora customers.
For traditional banks, working with specialist virtual asset providers offers a potential route into the digital asset market without having to develop every aspect of the technology and operational infrastructure independently.
KoinKoin says its role in a possible arrangement would include compliance processes such as customer onboarding and transaction monitoring, while the bank would continue to focus on its core banking services.
“A bank should be able to offer virtual assets without taking on risks it was never built to manage,” Kufuor said. “Our role is to carry the compliance load, from customer onboarding to transaction monitoring, so the bank can focus on what it already does well, which is serving its customers.”
However, access to virtual assets also comes with risks, including price volatility, fraud and cybersecurity threats. Any eventual offering would need appropriate customer disclosures, education and safeguards.
South Africa offers a regional precedent
The discussions in Ghana reflect a wider trend of traditional financial institutions exploring relationships with virtual asset companies across Africa.
In South Africa, First National Bank (FNB) partnered with cryptocurrency exchange VALR to introduce cryptocurrency investing through its investment platform. The service gives eligible customers access to assets including Bitcoin, Ethereum, XRP, Solana and USDT.
Absa has also explored institutional Bitcoin custody, signalling growing interest among established banks in services supporting digital asset markets.
These developments illustrate how banks are increasingly considering partnerships with specialist providers as a way to participate in the virtual asset sector.
For Ghana, the potential OmniBSIC-KoinKoin arrangement would provide another example of how traditional financial institutions could engage with the sector under a developing regulatory framework.
OmniBSIC’s digital ambitions
The discussions also align with OmniBSIC’s broader digital transformation agenda, known as OmniBSIC 5.0, which focuses on embedded finance, personalised banking and new services for corporate and diaspora customers.
For KoinKoin, the engagement represents an opportunity to connect its virtual asset infrastructure with the reach and established customer relationships of a commercial bank.
Olaniyi Atose, founder and global CEO of KoinKoin, said the discussions reflect a shift in how financial institutions are approaching digital assets.
“The conversation has moved beyond whether virtual assets belong in the future of finance. They do. The question now is how we bring them to millions of people responsibly, with the right controls, governance and regulatory oversight,” he said.
Atose added that the company’s approach has been shaped by its engagement with SEC Ghana and the Bank of Ghana, and that any eventual arrangement would operate within the relevant regulatory requirements.
For now, the discussions remain at an exploratory stage. Their outcome could offer an indication of how Ghana’s established banking sector intends to engage with its growing virtual asset industry as the country’s regulatory framework takes shape.
Techmoni Africa tracks the Fintech, Web3, and Forex stories defining Nigeria, Kenya, and Ghana. We also run press distribution for Fintech and crypto brands across Africa. Have a story that deserves attention? Reach our editorial team at info@techmoniafrica.com
