Accra, April 8, — A Ghanaian-owned fintech firm, WeWire, has achieved a major international milestone after obtaining approval to operate as a Payment Service Provider (PSP) under the Bank of Canada.
The authorisation, issued in accordance with Canada’s Retail Payment Activities Act, places the company within the country’s regulated financial ecosystem, allowing it to deliver compliant payment services.
In a statement released in Accra, the achievement was described as a significant boost for Ghana’s fintech space, reflecting the increasing global relevance of African-driven digital financial solutions.
WeWire operates as a cross-border payments platform, helping businesses and individuals move funds internationally with greater ease. Although it serves global markets, its operational leadership is based in Accra.
The company is headed by Chief Executive Officer Mr Ebenezer Ghanney and Chief Technology Officer Mr Desmond Nyamador.
Mr Ghanney said the regulatory approval underscored the ability of Ghanaian startups to satisfy strict international standards in both compliance and operations.
“WeWire has now been recognised as a registered fintech under the Bank of Canada after securing our PSP licence,” he said.
He explained that the certification would strengthen the company’s capacity to offer quicker, safer, and more affordable payment services across borders.
According to him, WeWire’s model seeks to reduce reliance on multiple intermediaries by connecting more directly with financial infrastructure, thereby cutting transaction delays and costs.
He added that the new status would improve the firm’s ability to support businesses engaged in international trade with more efficient payment channels.
Mr Nyamador indicated that the achievement builds on the company’s growing global recognition, noting its recent inclusion in Tether’s USDT Ecosystem Directory.
That recognition places WeWire among fintech firms contributing to the adoption of stablecoins and the expansion of digital financial systems worldwide.
Available industry figures show that stablecoins made up about 43 per cent of Sub-Saharan Africa’s cryptocurrency market in 2024, with transaction volumes estimated at 54 billion dollars.
Mr Nyamador disclosed that WeWire has already processed transactions exceeding three billion dollars for more than 3,000 businesses operating across 80 countries.
He said the new licence would enhance transaction speed, transparency, and security for clients using the platform.
He added that it would also strengthen financial connectivity between Africa and North America, particularly for enterprises involved in cross-border commerce.
Mr Ghanney reaffirmed the company’s long-term vision of building financial systems that enable businesses in emerging markets to scale internationally.
“Businesses can only expand globally if their payments move just as quickly as their ideas, and that is the gap we are addressing,” he said.
GHBUSS
8 April 2026
No comments:
Post a Comment