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Ruble-Backed Stablecoin A7A5 Facilitates $6 Billion in Cross-Border Transfers

According to recent data, the ruble-pegged A7A5 stablecoin now represents about 43% of the non-USD stablecoin market after a sharp 250% surge in September.

Summary

The ruble-pegged stablecoin A7A5 has become the largest non-USD stablecoin by market capitalization, reaching nearly $500 million despite ongoing U.S. and U.K. sanctions. It now accounts for around 43% of the total non-USD stablecoin market after recording a one-day 250% rise in September, surpassing Circle’s euro-denominated EURC. This rapid expansion highlights A7A5’s growing prominence in the global digital asset landscape amid persistent geopolitical restrictions.

Terms & Concepts
  • Stablecoin: A cryptocurrency designed to maintain a stable value by being pegged to a reserve asset such as fiat currency.
  • Ruble-Backed Stablecoin: A stablecoin whose value is pegged to the Russian ruble, aiming to facilitate trading and payments with minimal volatility.
  • Market Capitalization: The total value of a cryptocurrency or token, calculated by multiplying its current price by the total circulating supply.