Sanctions-Defying Ruble-Backed Stablecoin Explodes to $500M – Is This Russia’s Answer to the Dollar?
A brand new Russian-linked stablecoin, A7A5, has surged to a $500 million market capitalization, turning into the world’s largest non-U.S. greenback stablecoin regardless of a number of worldwide sanctions. The stablecoin, issued in Kyrgyzstan and pegged 1:1 to the Russian ruble, now accounts for roughly 43% of the whole $1.2 billion non-dollar stablecoin market, in…
