Stablecoins have quickly become one of the most talked-about innovations in the African financial system in recent years. They are digital money backed by traditional currencies like the U.S. dollar.
This differentiates them from cryptocurrencies such as Bitcoin, whose prices fluctuate quickly. A stablecoin holds its value; for example, 1 USDC (USD Coin) usually equals 1 U.S. dollar.
A 2024 report by Chainalysis showed that Sub-Saharan Africa recorded more than $100 billion in crypto transactions in a year, with part of it coming from stablecoins.
In Nigeria, stablecoins like USDT and USDC are now the preferred way to send remittances and conduct business transactions because they shield people from local currency fluctuations.
Stablecoins are no longer a distant idea for freelancers, small businesses, and families receiving money from abroad; they’re a daily financial tool.
Why Ghana is the perfect market for stablecoin wallets
Ghana stands out as a fertile ground for stablecoin adoption among African countries. According to the World Bank, in 2024, the government received $4.6 billion in remittances.
This money, mostly from Ghanaians living in Europe and North America, is a lifeline for millions of households. Yet, traditional money transfer operators often charge between 8 and 10 per cent in fees, eating into the hard-earned money that families depend on. Stablecoins can cut these costs and allow more funds to reach needy people.
With services like MTN Mobile Money and AirtelTigo Money, more than 40 per cent of the population already uses digital wallets daily.
This digital-first system means that introducing stablecoin wallets doesn’t require changing consumer habits; it only builds on them.
Meanwhile, a young, tech-savvy population and the government’s drive toward a cash-lite economy make conditions ideal. Ghana is also piloting the e-Cedi, its central bank digital currency, which signals regulatory openness toward blockchain-driven financial solutions.
Step-by-Step: How to create a stablecoin wallet in Ghana
The good news for entrepreneurs is that launching a stablecoin wallet doesn’t have to take years or cost millions. Instead of building everything from scratch, innovators can use existing infrastructure and focus on what matters most: the user experience.
1 Define the purpose
The first step in building a stablecoin wallet is to be clear about its purpose. The strongest use cases in Ghana are already well-defined: remittances from the diaspora, payments for freelancers working with international clients, and cross-border business transactions.
Take freelancers as an example. A wallet designed specifically for them could allow them to receive instant payments in stablecoins from clients abroad, with the added convenience of converting those funds directly into cedis through mobile money.
That solution would be a real game-changer for a market that often struggles with high transfer fees and long delays.
Several platforms have already started exploring this space. Hurupay provides remote workers with virtual USD accounts backed by stablecoins. Yellow Card has pushed adoption by making buying and selling stablecoins easier while promoting cross-border payments.
In partnership with Flutterwave, Onafriq, and Yellow Card, Circle is building global payment rails powered by stablecoins. Meanwhile, Mazzuma is experimenting with blockchain-based mobile payment systems.
Still, there’s room for improvement. Features like automatic conversion to mobile money, enabling merchants to pay suppliers directly in stablecoins, or offering zero-fee off-ramps are not yet seamless—or in some cases, unavailable.
This gap creates opportunities for new players to enter the market with faster, cheaper, and more user-friendly solutions.
2 Infrastructure and partnerships
Once the wallet’s purpose is clear, the next big decision is choosing the right infrastructure partner. Building your blockchain integration, custody system, and compliance framework from scratch can be costly and time-consuming. A smarter route is to work with companies that already provide white-label wallet solutions.
These partners offer pre-built platforms with security protocols, blockchain connectivity, and compliance features. You can focus on user experience and growth while relying on proven technology.
Several global and regional players already provide this service, which is accessible to Ghanaian businesses. Platforms like B2BinPay, Tangany, FiatGate, Youtap, Smart Genesis, CPAY, and TransFi allow entrepreneurs to launch stablecoin wallets without reinventing the wheel. With their plug-and-play infrastructure, you can cut costs, reduce risks, and bring your wallet to market much faster.
3 Fiat Integration and scaling
No stablecoin wallet can succeed in Ghana without smooth fiat integration. For everyday users, the real value is moving money effortlessly between their stablecoin balance and local mobile money accounts.
By connecting with MTN MoMo, Vodafone Cash, and AirtelTigo, deposits and withdrawals are as simple as sending a text message. This bridge between digital assets and familiar mobile wallets will drive adoption at scale.
Once the technology is in place, the next focus should be branding and scaling. White-label wallet solutions allow you to design a platform that looks and feels good for your business, even if the core infrastructure comes from a partner. That’s important because trust in financial products often begins with how users perceive the brand.
It’s also wise to start small. You might launch with a pilot group of 1,000 freelancers or a handful of merchants who regularly deal with international clients.
As those early users share positive experiences like faster payments, lower fees, and easy conversions into cedis, you’ll have real stories to showcase.
These success stories make scaling easier because they prove that the system works in practice, not just in theory.
Building trust in the stablecoin market
Beyond technology, trust is the most crucial factor for success in Ghana’s stablecoin market. Many people still link cryptocurrency to scams, so any new wallet provider must go the extra mile in showing transparency and compliance.
The Bank of Ghana has been clear: cryptocurrencies are not legal tender, but fintech innovations can flourish within regulated frameworks. For wallet builders, this means putting strong KYC (Know Your Customer) and AML (Anti-Money Laundering) systems at the heart of their operations.
Education is equally critical. While Ghanaians are highly active in digital finance, stablecoins remain unfamiliar to many. A startup that invests in education—through webinars, community meetups, or partnerships with tech media like Techpression, universities and trade associations—will earn credibility and build a loyal user base.
People are far more likely to adopt a new financial tool when they understand how it works and trust the company behind it.
Finally, timing matters. Ghana’s financial ecosystem is evolving rapidly, and early movers can capture market share before global giants flood the space.
As mobile money transformed everyday payments a decade ago, stablecoins could reshape how Ghanaians handle remittances, freelancer payments, and cross-border trade.
Those who act early and build with trust and education in mind are best placed to lead this next wave of financial innovation.