The Ruble-pegged stablecoin A7A5 has increased its on-chain circulation by approximately $89.5 billion over the past year, outpacing the growth of USDT and USDC. A7A5 was launched in early 2025, primarily to provide cross-border payments for Russian users amid banking restrictions and to obtain liquidity through DeFi. Artemis data shows that USDT and USDC added approximately $49 billion and $31 billion in circulation last year, respectively; during the same period, the Ruble appreciated over 40% against the US dollar due to capital controls and central bank measures. (CoinDesk)
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The Ruble-pegged stablecoin A7A5 has increased its on-chain circulation by approximately $89.5 billion over the past year, outpacing the growth of USDT and USDC. A7A5 was launched in early 2025, primarily to provide cross-border payments for Russian users amid banking restrictions and to obtain liquidity through DeFi. Artemis data shows that USDT and USDC added approximately $49 billion and $31 billion in circulation last year, respectively; during the same period, the Ruble appreciated over 40% against the US dollar due to capital controls and central bank measures. (CoinDesk)