The Russian stablecoin project aims to break away from the USDT system and promote cross-border cryptocurrency settlements in rubles
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According to CoinDesk, the stablecoin project A7A5, based on the Russian ruble, stated that even if the situation between Russia and Ukraine eases in the future and some sanctions are lifted, this stablecoin still has long-term survival space. Its core value lies in cross-border settlement efficiency, profitability, and the construction of regional cryptocurrency payment infrastructure.
The market value of this stablecoin was approximately $500 million, initially aimed at helping Russia bypass banking restrictions, but it hopes to further develop into a "direct settlement channel between stablecoins," allowing for direct exchanges with other stablecoins without relying on USDT, USDC, or the dollar system.
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