UMB Becomes First Ghanaian Bank to Win Approval for Crypto Services

Universal Merchant Bank (UMB) has become the first bank in Ghana to receive joint approval from the Bank of Ghana and the Securities and Exchange Commission to offer virtual accounts to businesses in the country's virtual asset sector.

The approval lets UMB open regulated banking channels for crypto and blockchain-linked firms, which have historically struggled to access mainstream banking in Ghana due to compliance risk.

The bank framed the move as both a regulatory milestone and a strategic bet on where the country's digital economy is headed.