TLDR:

• Ghana admits 11 firms into crypto sandbox to test exchanges and tokenization under VASP Act.
  
• Over 3 million Ghanaians use crypto, with transaction volumes rising 80% amid growing adoption.
  
• Blockchain.com expands to Ghana after 700% growth in Nigeria’s digital asset market.
  
• Sandbox supports regulatory compliance, investor protection, and responsible innovation for firms.

Ghana’s crypto regulatory sandbox has launched under the 2025 VASP Act, allowing 11 firms to test digital asset services.

The initiative aims to regulate the market, protect consumers, and build a structured framework for the country’s growing crypto ecosystem.

Ghana opens regulatory sandbox for virtual asset providers

The Ghana crypto regulatory sandbox allows selected firms to operate under regulatory supervision. The Securities and Exchange Commission and Bank of Ghana oversee the 12-month pilot. 

Eleven firms, including Hyro Exchange, Koinkoin, and Africoin, have been admitted. The sandbox is the first operational step following the Virtual Asset Service Providers Act (2025), which legally recognizes digital asset companies. 

The programme permits firms to test cryptocurrency exchanges, tokenization of assets, and custodial services within a controlled environment.

Companies meeting the regulatory requirements may receive full licences after six months. Others can continue testing until the program ends. The SEC will use lessons from the sandbox to prepare final licensing guidelines for virtual asset service providers.

Regulators have emphasized compliance with anti-money laundering and counter-terrorism financing standards. The sandbox aims to encourage responsible innovation while strengthening investor protection and market integrity.

Ghana’s framework contrasts with Nigeria’s approach, where the SEC has paused new sandbox admissions. Ghana’s pilot indicates a structured path for regulated digital asset adoption, positioning the country as a potential hub for crypto innovation in West Africa.

The programme also includes local and international players like Blockchain.com, Hanypay, and Vaulta. Their participation demonstrates confidence in Ghana’s regulatory clarity and the growing potential of its crypto market.

Growth of crypto adoption and Blockchain.com expansion

Crypto adoption in Ghana has increased rapidly, with more than 3 million users now participating in the market. Transaction volumes have surged by 80 percent, reaching over $3 billion by 2024. 

These figures highlight the demand for regulated digital asset services in the country.

Blockchain.com, which reported over 700 percent growth in Nigeria, is expanding into Ghana to meet rising regional demand. 

The company has already seen a 140 percent increase in active Ghanaian users and an 80 percent growth in transactions. The firm is focusing on infrastructure development, regulatory engagement, and local partnerships. 

Stablecoins and other digital assets are expected to improve cross-border payments and support expanding digital commerce ecosystems in West Africa.

The sandbox provides an environment for firms like Blockchain.com to test market-ready products while maintaining compliance.

Ghana’s approach aligns market growth with investor protection and responsible innovation, creating a regulated framework for virtual asset services.

The regulatory pilot demonstrates Ghana’s commitment to balancing rapid crypto adoption with legal and operational oversight.

With the sandbox, firms can innovate safely while contributing to a structured and secure digital asset ecosystem.

XRP futures traders appear to be pulling back as open interest dropped, funding rates weakened, and exchange transaction activity fell significantly.

XRP failed to break above $1.40 on Wednesday despite early-week optimism about a potential resolution to the Iran conflict. At the same time, derivatives data suggest speculative activity in the market has been cooling.

Open interest in XRP derivatives has declined sharply across major trading platforms after a period of strong speculative activity that accompanied the asset’s rally toward its cycle peak in July 2025.

Signs of Cooling After Heavy Long Liquidations

New data tracking multi-exchange open interest shows that the total value of active futures contracts has dropped noticeably across nearly all major exchanges, which indicates a reduction in leveraged participation. Open interest represents the total number of futures contracts that remain active in the market, and a decline typically means that traders are closing positions or reducing exposure.

Despite the broader decline, Binance continues to hold the largest share of XRP derivatives activity, as open interest currently stands at approximately $222 million. Bybit follows with about $195 million in open interest. While these figures remain higher than the lowest levels recorded in 2024, they are significantly below the high readings observed during mid-2025 when XRP reached its cycle high and speculative trading activity intensified.

After examining liquidation data across exchanges, CryptoQuant found a clear dominance of long liquidations compared with short liquidations, both in frequency and total value. This pattern suggests that bullish traders have been disproportionately affected by recent market volatility.

The report also said that heavy long liquidations typically push funding rates lower, and often bring them back toward neutral levels or even into negative territory. Such conditions generally reflect weakening bullish sentiment and increased caution among derivatives traders.

Market Participation Slows

Meanwhile, activity involving XRP transfers to and from major cryptocurrency exchanges has dropped to its lowest level since the indicator was introduced. The data comes from the Multi Exchanges Daily Depositing/Withdrawing Transactions Delta, a metric that tracks the number of XRP deposit and withdrawal transactions across 15 major trading platforms.

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According to the analysis, the sharp decline in transaction activity comes after XRP’s price fell by more than 60% from the highs recorded last summer. The drop in deposits and withdrawals means that fewer users are currently interacting with exchanges, in what appears to be a notable slowdown in overall exchange-related activity for the cryptocurrency.

TLDR:

• February CPI rose 2.4% YoY with core inflation at 2.5%, remaining above the Fed’s 2% target. 
• Monthly CPI growth slowed slightly, aided by stable vehicle prices and lower rental inflation. 
• Rising oil prices after the Iran conflict may push March inflation higher than February levels. 
• Weak payroll growth and higher unemployment complicate the Fed’s March 18 policy decision.

February CPI data showed stable inflation in the United States during February. The figures matched expectations and indicated slower price growth.

However, rising oil prices and weaker employment data now place the Federal Reserve in a difficult position before its March policy meeting.

February CPI Shows Cooling Trend Before Energy Shock

February CPI increased 2.4% compared with the same period last year. The figure matched January’s reading and aligned with market expectations. 

Core inflation also remained steady at 2.5%, still above the Federal Reserve’s 2% inflation target. Monthly price growth reached 0.3% in February after a 0.2% increase in January.

Core CPI rose 0.2%, slightly lower than the previous month. Lower rental inflation and stable vehicle prices helped keep monthly increases relatively moderate.

Some consumer categories still experienced rising costs. Grocery prices climbed 0.4% during February and rose 2.4% compared with a year earlier. 

Clothing prices also increased sharply, rising 1.3% during the same month. Energy prices moved higher during February but remained manageable. 

Gasoline prices increased 0.8% during the month yet remained lower than last year’s levels. These numbers represent conditions before the recent geopolitical conflict affected global energy markets.

Bull Theory noted the timing challenge surrounding the data release. The post stated that the Federal Reserve received the “perfect inflation report at the worst possible time.”

Oil Price Surge and Weak Jobs Data Complicate Fed Decision

Energy markets changed rapidly after the conflict involving Iran began near the end of February. Shipping disruptions in the Persian Gulf pushed oil prices sharply higher within days. 

Energy costs, therefore, started rising after the February CPI measurement period ended.

Oil prices briefly approached $120 per barrel before falling back to near $87. 

The market remains unstable because shipping routes through the Strait of Hormuz face ongoing risks. Around 20% of global oil shipments normally pass through this route.

Fuel prices are already increasing in the United States. The national average price for regular gasoline reached about $3.58 per gallon. 

That represents an increase of roughly 20% within one month. Higher fuel costs often affect transportation, logistics, and airline travel. 

Businesses may also experience higher shipping expenses if energy prices remain elevated. Economists, therefore, expect fuel costs to influence inflation in the next report.

At the same time, labor market data shows signs of slowing. Payroll growth reached only 58,000 jobs in February, far below expectations of 126,000. 

The unemployment rate also rose to 4.4%. The Bull Theory summarized that policymakers now face three signals: cooling inflation, weakening jobs, and rising energy costs.

VanEck has made some of its digital asset exchange-traded products (ETPs) available to 401(k) holders in the United States, signaling a push to integrate crypto-focused investments into traditional retirement accounts.

On Wednesday, the fund issuer said a selection of its digital asset ETPs will be offered through Basic Capital, a fintech platform that provides employer-sponsored 401(k) plans.

The companies did not specify which VanEck digital asset ETPs will be available on the platform. Within crypto, VanEck is best known for the VanEck Bitcoin Trust (HODL) and the VanEck Ethereum Trust (ETHV), its spot Bitcoin (BTC) and Ether (ETH) exchange-traded funds (ETFs).

The asset manager also offers the VanEck Digital Transformation ETF (DAPP), often referred to as its “Onchain Economy” ETF, which invests in companies involved in the digital asset ecosystem. 

VanEck expanded its crypto product lineup earlier this year by launching a spot Avalanche ETF in the United States. 

The US Department of Labor in May backtracked on previous federal guidance that discouraged 401(k) plan providers from offering crypto among their investment options.

Basic Capital was founded in 2021 and raised $25 million in a Series A funding round last year led by venture capital firms Forerunner and Lux Capital. The company’s 401(k) platform gives investors access to alternative assets beyond traditional stocks and bonds.

Related: Ethereum is very much ‘the Wall Street token,’ VanEck CEO says

Policy shift opens retirement plans to alternative assets

The move comes amid growing regulatory momentum to integrate digital assets into traditional retirement planning.

In August, US President Donald Trump signed an executive order directing federal agencies to expand access to alternative assets in 401(k) plans, including digital assets.

The directive called on agencies such as the Treasury Department and the Securities and Exchange Commission to coordinate on potential rule changes to support the broader adoption of alternative investments in retirement accounts.

The policy shift comes as more Americans rely on workplace retirement plans to build long-term savings.

Employer-sponsored defined contribution plans held about $13.9 trillion in assets as of September, including roughly $10 trillion in 401(k) plans, according to the Investment Company Institute.

Separate data from Vanguard’s “How America Saves 2025” report suggests savings rates are also rising. Nearly half (45%) of participants increased their contribution rates in 2024, reflecting the growing use of automatic contribution features in employer plans.

Related: Crypto’s 2026 investment playbook: Bitcoin, stablecoin infrastructure, tokenized assets