Brij Fintech Begins B2B Currency Swap Pilot Under Bank of Ghana Sandbox

Brij Fintech has obtained a license from the Bank of Ghana to begin its B2B currency swap that enables a direct swap of currencies between Ghanaian Cedis and Nigerian Naira without the medium of traditional foreign exchange.

The Ghanaian-based payment service provider (PSP), which specializes in cross-border bill payment and international money transfer, has received the go-ahead to start a six-month pilot phase of the BrijX B2B currency swap with close supervision from the Bank of Ghana’s regulatory sandbox.

This development is contained in a statement released by the Bank of Ghana, which also seized the opportunity to debunk the circular suggesting that MobileMoney Limited, provider of MoMo from MTN, has also been licensed to start a cross-border transaction.

While commending the achievement, Riva Levinson, an award-winning author, described it as the first-ever heterogeneous mobile money transaction across African borders.

I am pleased to report that @BrijTechInc Brij Fintech Ghana has commenced a six-month pilot phase of its BrijX B2B Currency Swap Platform under the supervision of the Bank of Ghana's Regulatory Sandbox enabling direct currency swaps between Ghanaian Cedis and Nigerian Naira… https://t.co/1NDQXIWiRZ

— K. Riva Levinson (@RivaLevinson) March 20, 2025

For the smooth operation of the platform, the fintech company is carrying out the testing stage with customers of Mobilemoney Ltd and G-Money Financial Services.

In compliance with the Bank of Ghana’s regulations, the BrijX platform will serve a selected number of users with some transaction limits.

Brij Fintech Unveiled BrijX Digital Platform for B2B Currency Swap

In the build-up to the recent authorization, GhanaWeb had earlier reported the launching of the BrijX Digital Platform, which aims to ease cross-border transactions between Ghana and Nigeria.

Beatrice Bota, the Chief Operating Officer of Brij Technologies Inc., was reported to have said that the company has been longing to find a lasting solution to the high fees incurred by African businesses in international transactions, delays in processing time, and lack of transparency.

She later added that the company now has the BrijX platform, which she described as a game-changing solution for businesses to navigate seamlessly.

“We are thrilled to introduce BrijX, a game-changing solution that empowers businesses to navigate the complexities of cross-border currency transactions with ease and confidence. This platform reflects our commitment to driving innovation in financial technology and creating opportunities for businesses worldwide,”

Bota said.

She said the platform is built to enhance financial operations by saving businesses time and resources while optimizing their currency exchange processes.

This movement can be seen as the long-awaited solution that enhances financial inclusion and cross-border trade efficiency and enables businesses in both countries to thrive and fully deploy their innovations.

The Future of Crypto Regulation in Ghana

In August 2022, the Bank of Ghana released a document containing the regulatory frameworks for FinTech operations in the country. Citing the change in the financial service industry, which paved the way for digital technologies, for the regulations.

Fast forward to now, the Bank of Ghana, under its Regulatory Sandbox Framework, provides a supervised environment for fintech companies to run through financial innovations with strict regulation that prioritizes consumer protection and compliance with Anti-Money Laundering (AML).