Stanbic Ghana explores stablecoin payments for businesses trading with Asia

Stanbic Bank Ghana and RD Technologies are exploring stablecoin payments to help Ghanaian businesses settle transactions with suppliers in Asia, as financial institutions look for ways to improve cross-border trade payments. The proposed solution would combine Stanbic’s banking services with RD Technologies’ digital-asset infrastructure and Asian settlement network.

The partners are working towards a regulated pilot to facilitate business-to-business trade settlement and are collaborating on a cross-border payment solution that uses a stablecoin to allow Ghanaian companies to more efficiently pay their suppliers in Asia, according to a report.

The proposed solution would combine the banking services of Stanbic Bank Ghana with the digital-asset infrastructure and Asian settlement network of RD Technologies to test whether stablecoin technology can simplify international payments, improve transaction transparency and reduce the complexity of traditional cross-border transfers.

The initiative is still in its exploratory phase, with regulatory engagement, technical testing and pilot planning expected to shape the next phase. Any implementation will be subject to the necessary regulatory no-objection and the partners’ compliance and risk-management requirements.

International payments can be a complicated affair for businesses importing goods or sourcing supplies from Asian markets, with multiple intermediaries involved that can lead to challenges with settlement times, transaction costs and payment tracking.The proposed approach seeks to address these issues by employing digital asset settlement infrastructure in combination with traditional banking services, rather than replacing the role of the bank in the transaction.

Under the proposed model, Stanbic Bank Ghana would still be responsible for customer on-boarding, account opening, know-your-customer (KYC) checks, transaction approval and local currency settlement. The bank would also oversee local compliance requirements, keeping customers within its existing banking relationship.

RD Technologies would supply the payment technology and digital-asset infrastructure needed to facilitate the cross-border settlement process, while coordinating payments through its network in Asia. Stablecoin technology would support the underlying settlement mechanism, although the parties have not yet announced a launch date or confirmed when businesses could begin using the service.

Darwin Mireku, Head of Strategy Enablement at Stanbic Bank Ghana, said the collaboration would assess how emerging payment technology could address the needs of businesses engaged in international trade.

“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.”

RD Technologies CEO Rita Liu said the initiative would combine the bank’s domestic capabilities with the technology company’s connectivity to Asian markets.

“This collaboration brings together Stanbic Bank Ghana’s domestic banking capabilities and RD Technologies’ digital-asset infrastructure and connectivity with Asian markets. 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.”

The partners plan to establish a project team to advance technical validation and develop the operating model once the required regulatory clearance is secured. Stanbic Bank Ghana would also facilitate participation by eligible businesses introduced for the pilot, subject to its standard onboarding procedures, compliance checks, risk assessments and transaction approvals.

The proposed collaboration comes as financial institutions explore ways to modernise cross-border payments using digital-asset infrastructure while maintaining regulatory oversight. For Ghanaian businesses trading with Asia, the outcome could offer another route for settling supplier payments, depending on the results of testing and the applicable regulatory requirements.

In the short term, the initiative’s focus is on understanding whether the proposed model can work in a secure and compliant manner within the banking infrastructure in Ghana. There has been no confirmation of a commercial rollout and the eventual availability of the service will be dependent upon regulatory engagement, technical validation and successful design of a controlled pilot.

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