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Russian Ruble Stablecoin A7A5 Surges Supply by $90 Billion, Outpacing USDT and USDC Growth
Summary: According to CoinDesk, the Russian ruble stablecoin A7A5 saw a supply increase of nearly $90 billion last year, surpassing the growth of USDT and USDC. The stablecoin, launched by A7 LLC and associated with Russian state-owned Promsvyazbank and Moldovan businessman Ilan Shor, primarily assists Russian users in bypassing banking restrictions for cross-border payments. Despite Western ...
According to CoinDesk, the Russian ruble stablecoin A7A5 saw a supply increase of nearly $90 billion last year, surpassing the growth of USDT and USDC. The stablecoin, launched by A7 LLC and associated with Russian state-owned Promsvyazbank and Moldovan businessman Ilan Shor, primarily assists Russian users in bypassing banking restrictions for cross-border payments. Despite Western sanctions, the ruble has appreciated over 40% against the US dollar this year, largely due to capital controls and central bank intervention.
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Link: Russian Ruble Stablecoin A7A5 Surges Supply by $90 Billion, Outpacing USDT and USDC Growth [Copy]
