SEC moves to establish regulatory framework for Gold Tokenisation

The Securities and Exchange Commission (SEC) has signalled plans to establish a regulatory framework for the tokenisation of gold and other real-world assets, following the passage of the Virtual Assets Service Providers Act.

The initiative will see the licensing of independent custodians responsible for safeguarding physical gold that backs digital tokens, as the regulator seeks to promote financial inclusion, enhance market oversight and unlock new investment opportunities through blockchain technology.

Speaking at The Money Summit 2026, organised by Business and Financial Times (B&FT), SEC Deputy Director-General Mensah Thompson outlined the Commission’s approach to regulating commodity-backed digital assets.

According to him, the SEC is developing a post-custody framework that will require independent custodians to meet strict regulatory standards before being authorised to hold physical gold reserves linked to tokenised products.

“What we are building in terms of the rules and framework is to have a post-custody framework in place. And so we are going to be licensing some independent custodians who pretty much use the custody-guidelined assets,” Mr. Thompson said.

He noted that commercial banks are expected to play a significant role in the emerging ecosystem, serving both as custodians of physical gold and as safekeepers of the digital tokens issued to investors, including pension funds.

“The banks have two roles to play here. One as independent custodians. Two, as custody of the virtual tokens that are issued. It’s a big opportunity for the banks,” he stated.

Mr. Thompson explained that entities seeking licences to hold physical gold reserves will be subjected to rigorous inspections. The SEC will assess vaulting systems, security measures and operational infrastructure to ensure the safe custody of assets backing digital tokens.

He further revealed that holders of gold-backed tokens could soon use their digital assets as collateral to secure financing from banks.

“For instance, if you have, let’s say, 100 gold tokens worth maybe GH¢100,000 and I don’t want to sell now, I can collateralise those gold tokens and get financing from the bank,” he said.

Beyond gold, the SEC is exploring opportunities to tokenise a wide range of assets, including real estate, land and mineral resources such as diamonds and bauxite.

“There’s a good opportunity to tokenise a number of assets, from gold to diamond to bauxite and other minerals. There’s a good opportunity to tokenise real estate. So people can tokenise real estate, people can tokenise land. People can also tokenise other real-world assets,” Mr. Thompson noted.

He explained that tokenisation allows ownership of high-value assets to be divided into smaller, tradable units, making them accessible to a broader segment of the population.

“If you fractionalise it into maybe one gramme of gold, then ordinary Ghanaians with GH¢10, GH¢15, GH¢20 can buy this gold,” he said.

A representative of the Gold Board, speaking on behalf of Director of Finance Dr. George Baah Danquah, highlighted the potential economic benefits of tokenisation, arguing that it would enable Ghana to retain value within its domestic financial ecosystem.

“When you have digital assets backed by a physical one, what it means is that as long as the digital one moves and travels, it’s still within the ecosystem – unlike the traditional one, where we export it and reduce access to the commodity,” he explained.

The SEC’s planned framework is expected to lay the foundation for a new digital asset market in Ghana, enabling broader participation in commodity investments while ensuring adequate regulatory oversight and asset security.

Prince Antwi

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