Stanbic Bank Ghana and RD Technologies Explore Stablecoin-Powered Cross-Border Payments
The parties intend to assess how digital-asset settlement infrastructure can complement existing banking services to deliver a more efficient and transparent trade payment experience within the regulated banking system.
Stanbic Bank Ghana and RD Technologies announced that they are working together to explore a bank-led cross-border trade settlement solution supported by stablecoin technology. The initial focus will be legitimate business-to-business payments from Ghanaian businesses to suppliers in Asia, with regulatory engagement, technical validation and pilot planning forming the next phase of work.
For Ghanaian businesses paying suppliers in Asia, cross-border payments can involve multiple intermediaries, adding time, cost and complexity to settlement and payment tracking. The parties intend to assess how digital-asset settlement infrastructure can complement existing banking services to deliver a more efficient and transparent trade payment experience within the regulated banking system.
Under the proposed model, Stanbic Bank Ghana would remain the customer-facing bank, responsible for customer onboarding and account opening, know-your-customer (KYC) checks, transaction approval and local-currency settlement, together with the associated local compliance oversight. RD Technologies would provide payment technology, digital-asset infrastructure and access to its Asian settlement network, coordinating overseas settlement. Stablecoin technology would support the underlying cross-border settlement process, while business customers would access the relevant banking services through Stanbic Bank Ghana.
Subject to the requisite regulatory no-objection, the parties intend to establish a project team to progress technical testing and the design of a controlled pilot. Stanbic Bank Ghana will support the pilot by facilitating participation of eligible customers introduced for the proposed use case, subject to the bank’s normal onboarding, compliance, risk assessment, and transaction-approval requirements.
“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, Head, Strategy Enablement, Stanbic Bank Ghana
“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.”
– Rita Liu, CEO, RD Technologies
The parties will continue engagement with the relevant regulatory stakeholders and, subject to the necessary regulatory no-objection, proceed with technical validation and operating-model design. Through this initiative, the parties aim to support the modernization of Ghana’s payments ecosystem and strengthen its trade connectivity with Asian markets.
