Stanbic Bank Ghana is exploring stablecoin technology to improve cross-border payments, in a move that could change how Ghanaian businesses settle trade transactions with suppliers in Asia.
The bank has announced a collaboration with RD Technologies to assess a bank-led payment solution that uses stablecoin technology to support international business-to-business transactions. The initiative seeks to address persistent challenges associated with cross-border payments, including delays, high transaction costs and the complexity of tracking funds across multiple intermediaries.
The proposed arrangement will initially target legitimate payments from Ghanaian businesses to suppliers in Asian markets, with regulatory engagement, technical validation and pilot planning expected to shape the next phase of the project.
Although the initiative remains at the exploratory stage, it signals growing interest in digital-asset infrastructure as banks consider new ways to improve international trade settlements without abandoning established banking safeguards.
Stanbic Targets Costly Cross-Border Transactions
International payments remain an important part of business operations, particularly for Ghanaian companies that depend on imported goods, equipment, raw materials and other supplies from Asian markets.
However, moving money across borders can involve several financial institutions and payment intermediaries. Each stage can introduce additional costs, delays and administrative requirements, making it difficult for businesses to predict when suppliers will receive their money.
Stanbic Bank Ghana and RD Technologies intend to examine whether stablecoin-powered settlement infrastructure can help address these difficulties while complementing existing banking services.
The proposed solution aims to make legitimate trade payments more efficient and transparent, giving businesses a potentially improved experience when settling transactions with overseas suppliers.
The development could be significant for import-dependent businesses that need reliable payment arrangements to maintain supply chains and meet contractual obligations.
However, the parties have not announced a completed product, confirmed transaction-cost reductions or established a launch date. The initiative remains subject to regulatory engagement and the successful completion of technical assessments.
How the Proposed Stablecoin Payment System Would Work
Under the proposed arrangement, Stanbic Bank Ghana would retain its position as the customer-facing bank, maintaining responsibility for the core banking and compliance functions associated with participating customers.
These responsibilities would include customer onboarding, account opening, know-your-customer (KYC) checks, transaction approval and local-currency settlement, alongside the bank’s local compliance oversight.
RD Technologies, meanwhile, would provide the payment technology, digital-asset infrastructure and access to its Asian settlement network, coordinating the overseas settlement process.
Stablecoin technology would support the underlying cross-border settlement, while customers would continue accessing the relevant banking services through Stanbic Bank Ghana.
The structure is intended to combine the bank’s established customer relationships and domestic banking capabilities with RD Technologies’ digital-asset infrastructure and international connectivity.
Importantly, the proposed model is not presented as a replacement for the banking system. Instead, the partners are exploring how stablecoin technology could operate alongside existing banking services within a regulated framework.
This distinction will be important as regulators assess the proposed arrangement, including its operational structure, compliance requirements and associated risks.
Stanbic Puts Compliance at the Centre of Its Plans
While the prospect of faster and more transparent international payments could attract businesses, the initiative’s progress will depend on regulatory engagement and the ability of both parties to demonstrate that the proposed system can operate safely.
Stanbic Bank Ghana has indicated that customer needs, compliance and risk management will guide the design and testing of the solution.
Darwin Mireku, Head of Strategy Enablement at Stanbic Bank Ghana, said the collaboration was intended to assess how new technology could improve legitimate trade payments.
“Reliable and efficient payments are essential for Ghanaian businesses engaged in international trade. Through this collaboration, we aim to assess how new technology can help customers settle legitimate trade payments with suppliers in Asia more smoothly. Customer needs, compliance and risk management will guide the design and testing of the proposed solution as we engage with the relevant regulators and work towards a controlled pilot.”
Darwin Mireku
The emphasis on a controlled pilot suggests that the partners intend to test the proposed model before considering broader implementation.
Subject to the requisite regulatory no-objection, a project team is expected to undertake technical testing and develop the pilot’s operating framework.
Stanbic will also facilitate the participation of eligible customers introduced for the proposed use case. Participation will remain subject to the bank’s normal onboarding procedures, compliance checks, risk assessments and transaction-approval requirements.
RD Technologies Eyes Stronger Ghana-Asia Trade Connections
RD Technologies believes the collaboration could bring together complementary capabilities to improve how Ghanaian businesses conduct international trade.
Rita Liu, CEO of RD Technologies, highlighted the value of combining Stanbic’s domestic banking operations with the technology company’s digital-asset infrastructure and Asian market connections.
“This collaboration brings together Stanbic Bank Ghana’s domestic banking capabilities and RD Technologies’ digital-asset infrastructure and connectivity with Asian markets.”
Rita Liu
She added:
“Our shared objective is to explore a secure, compliant and more efficient way for Ghanaian businesses to settle legitimate trade payments with suppliers in Asia. The next phase will focus on regulatory engagement, technical validation and the design of a controlled pilot.”
Rita Liu
The collaboration places particular emphasis on Ghana’s commercial connections with Asia, where businesses source a wide range of products and supplies.
If the proposed solution progresses successfully, it could offer participating businesses another option for settling eligible international trade payments. However, the extent of any improvement in speed, cost and transparency will need to be established through testing.
Regulatory Approval Remains the Next Major Hurdle
Despite the potential benefits, the proposed stablecoin-powered payment arrangement has not yet been confirmed for commercial rollout.
The parties will continue engaging relevant regulatory stakeholders before proceeding with technical validation and operating-model design, subject to the necessary regulatory no-objection.
The assessment phase will be important in determining how the technology fits into Ghana’s existing financial and payments framework, particularly regarding transaction monitoring, customer protection, compliance and operational risk.
The outcome could also influence how banks and technology providers approach similar arrangements involving digital-asset infrastructure and international settlement networks.
Stanbic Bank Ghana and RD Technologies ultimately aim to support the modernisation of Ghana’s payments ecosystem while strengthening trade connectivity with Asian markets.
Whether the initiative delivers a meaningful improvement for local businesses will depend on the results of the technical work, regulatory engagement and controlled pilot.
For now, the collaboration represents an early step towards testing whether stablecoin technology can make international trade payments more efficient while keeping established banking oversight at the centre of the process.
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