Get In Touch
2F, Nico Roozen Heights
Block 14, Nii Sai Road, East Legon
Accra, Ghana
Make Inquiries
Ph: +233 206371655
+233 244522655

Afkoin is a DLT-based quantum resistant CBDC proposed as a candidate ECOWAS single currency.


The first phase of the Afkoin CBDC shall be implemented on Hyperledger Fabric as a wholesale CBDC for domestic interbank transaction settlement among Afkoin ecosystem participants. Afkoin ecosystem participants include an imaginary West African Central Bank, a virtual Bank of Ghana as a representative ECOWAS National Central Bank, and virtual Payment Service Providers such as commercial banks that are participants in Ghana’s wholesale payment settlement system.

Afkoin Preliminary Design


The Afkoin platform shall provide capabilities for Wallet Creation, Afkoin Creation, Funds Transfer, Pledge and Redeem of Afkoins, Balance Enquiry, and Versioning of the underlying distributed transaction ledger.

From a security perspective, the Afkoin CBDC platform shall be quantum-resistant, making it resilient against known quantum computing attacks. To achieve quantum-resistance, the Afkoin CBDC platform shall leverage the Crystals-Kyber public key encryption scheme and the Crystals-Dilithium digital signature scheme; both schemes being lattice-based Post Quantum Cryptography schemes.

Afkoin shall represent a claim on the assets of ECOWAS member States if and when it is adopted by ECOWAS member States. Afkoin shall therefore perform the three functions of money namely, a unit of account, a medium of exchange, and a store of value; and shall serve as legal tender for transactions between and among ECOWAS member States and non-member States. Afkoin shall be pegged against the Special Drawing Right to mitigate against the volatility associated with private sector-issued digital currencies.