Brij Fintech Ghana, a licensed Payment Service Provider, has kicked off a six-month pilot of its BrijX B2B Currency Swap Platform under the supervision of the Bank of Ghana’s Regulatory Sandbox.
Why it matters
The BrijX platform enables direct currency swaps between the Ghanaian Cedi and the Nigerian Naira, bypassing traditional foreign exchange channels.
The initiative aims to streamline cross-border transactions for businesses operating between the two economies.
How it works
- The pilot will test outbound transactions from Ghana to Nigeria with a select group of users.
- Transactions will adhere to existing regulatory limits.
- Brij Fintech is collaborating with MobileMoney LTD and G-Money Financial Services to integrate the platform with their customer base.
What they’re saying
A Brij Fintech Ghana representative described the pilot as “a significant step towards enhancing financial inclusion and cross-border trade efficiency.”
The big picture
The Bank of Ghana’s Regulatory Sandbox provides a controlled environment for fintech innovations, ensuring regulatory compliance while fostering financial innovation.
If successful, BrijX could transform currency exchange and trade between Ghana and Nigeria.
