The Bank of Ghana has issued a strong warning to the public against engaging with two digital platforms—YellowPay and HanyPay—for operating without regulatory approval.
In a notice dated June 10, 2025, and signed by the Secretary, Sandra Thompson, the central bank stated that YellowPay, a service offered by Yellow Card Financial Inc., is promoting itself as a provider of digital payment services, cryptocurrency trading, and cross-border remittance solutions.
However, the company is not licensed by the Bank of Ghana and is therefore operating illegally within Ghana’s financial ecosystem.
The Bank further revealed that YellowPay claims to facilitate payments, and the sending and receiving of electronic money and stablecoins across borders, including converting these into local currency—activities that require explicit licensing from the central bank.
Of additional concern is YellowPay’s collaboration with HanyPay, another unlicensed entity operating in Ghana. HanyPay claims to be regulated by the so-called Africa Diaspora Central Bank (ADCB), an institution the Bank of Ghana says it does not recognize as a legitimate central bank. The partnership aims to introduce a new stablecoin called AKL Lumi, raising further regulatory red flags.
“The Bank of Ghana wishes to inform the general public, financial institutions, and all stakeholders that Yellow Card Financial Inc. and HanyPay Ghana are not authorized to operate within the jurisdiction of Ghana,” the statement said.
Members of the public are urged to avoid dealings with these platforms. For further information, stakeholders are advised to contact the Bank of Ghana’s FinTech and Innovation Office at fintech@bog.gov.gh or call +233 (0) 302 739 650.
