Brij Fintech Ghana launches BrijX B2B currency swap platform in regulatory sandbox
Brij Fintech Ghana, a licensed Payment Service Provider (PSP), 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.
The BrijX platform is designed as a digital marketplace facilitating direct currency swaps between the Ghanaian Cedi and the Nigerian Naira without relying on traditional foreign exchange channels. The initiative aims to provide businesses with a seamless and efficient cross-border transaction solution.
As part of the pilot, Brij Fintech Ghana will conduct controlled testing of outbound transactions from Ghana to Nigeria for a select number of users, ensuring compliance with existing transaction limits. The company is partnering with Mobilemoney Ltd and G-Money Financial Services to test the product with their customers.
Speaking on the development, a representative of Brij Fintech Ghana stated, “This pilot marks a significant step towards enhancing financial inclusion and cross-border trade efficiency. We are confident that BrijX will provide a reliable and innovative solution for businesses engaging in transactions between Ghana and Nigeria.”
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The Bank of Ghana’s Regulatory Sandbox provides a controlled environment for fintech companies to test innovative financial products while ensuring consumer protection and regulatory compliance. If successful, the BrijX platform could revolutionise currency exchange between the two West African economies.