Standard Chartered has hosted its inaugural Digital Assets Summit in Accra, bringing together regulators, financial industry leaders, and technology experts to explore the growing role of stablecoins and digital money in reshaping Africa's financial landscape.
The summit heard that digital assets are rapidly moving from experimentation to practical applications in trade, finance, and payments, with Africa's opportunity lying not only in adoption but in building trusted, scalable, and regulated market infrastructure.
Speaking at the event, Standard Chartered's Global Head of Digital Assets, Rene Michau, said stablecoins are increasingly moving payments and savings activity outside traditional financial rails, creating opportunities to improve efficiency while raising the need for stronger regulatory oversight.
Mr. Michau revealed that Standard Chartered's research estimates the global stablecoin market, currently valued at roughly US$300 billion, could expand to about US$2 trillion by 2028. The bank also expects significant migration of deposits into stablecoins across emerging markets as businesses and consumers seek more efficient mechanisms for payments and savings.
"The most transformative trend for cross-border payments will be stablecoins and other forms of digital money," Mr. Michau said, noting that existing infrastructure continues to create friction in intra-African trade and payments.
According to him, digital assets are no longer a niche segment of financial markets but are increasingly becoming part of the broader evolution of money. Successful adoption, he argued, will depend on balancing innovation with regulation, ensuring that new forms of money operate within trusted and well-supervised frameworks.
The comments come as regulators across Africa, including the Bank of Ghana and the Securities and Exchange Commission, continue developing frameworks for virtual asset service providers and broader digital asset activities.
Delivering the keynote address, First Deputy Governor of the Bank of Ghana, Dr. Zakari Mumuni, declared that digital assets have evolved from a niche market into a significant component of the country's financial ecosystem, with more than three million Ghanaians estimated to participate in the digital asset ecosystem .
"The question is no longer whether digital assets will shape African finance. They already are," Dr. Mumuni stated.
He emphasised that Africa's digital asset economy must be built on "trust, inclusion, and sound institutions" rather than speculation. The deputy governor highlighted the tokenisation of real assets as a key opportunity, which involves representing physical or financial assets in digital form on blockchain-based platforms. Such developments, he said, could enhance market efficiency, deepen capital markets, and create alternative channels through which businesses access financing.
Jojo Bannerman, Executive Director and Head of Markets at Standard Chartered Bank Ghana PLC, said digital assets should be viewed primarily as a tool for improving payment efficiency rather than as a replacement for existing monetary systems.
"The existing regulations around payments and currency sovereignty remain in place," Mr. Bannerman said. "Digital assets are an additional tool within the ecosystem".
Xorse Godzi, Chief Executive Officer of Standard Chartered Bank Ghana Plc, said digital assets represent a strategic opportunity for Ghana to shape the future of finance while advancing financial inclusion, efficiency, and innovation. He emphasised that achieving those outcomes would require sustained collaboration among policymakers, regulators, businesses, and financial institutions.