Bank of Ghana Warns Public Against Unlicensed Digital Platforms YellowPay and HanyPay
Accra, June 12, 2025 – The Bank of Ghana (BoG) has issued a public notice cautioning citizens, financial institutions, and stakeholders against engaging with YellowPay and HanyPay, two digital payment platforms that the central bank says are operating without appropriate licensing.
According to Notice No. BG/GOV/SEC/2025/13 dated June 10, 2025, YellowPay is an unapproved payment service promoted by Yellow Card Financial Inc., a company not licensed by the BoG. The platform is allegedly involved in digital payments, cryptocurrency trading, and cross-border remittances—activities that require formal authorization under Ghanaian law.
BoG further noted that YellowPay has entered into a reported partnership with HanyPay, which claims affiliation with the Africa Diaspora Central Bank (ADCB) to introduce a new stablecoin, AKL Lumi. However, the central bank clarified that ADCB is not recognized as a central bank in Ghana and that HanyPay itself is neither licensed nor authorized to operate in the country.
“These developments raise significant regulatory concerns,” the notice emphasized, warning the public to refrain from dealing with Yellow Card Financial Inc. and HanyPay Ghana.
Enquiries on the matter are to be directed to the FinTech and Innovation Office of the Bank of Ghana.
The notice was signed by Sandra Thompson, Secretary to the Bank of Ghana.
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