Russian Ruble-Backed Stablecoin Traded $9 Billion in Four Months

A7A5, a ruble-backed stablecoin launched in Kyrgyzstan to help Russia facilitate cross-border payments and bypass international sanctions, has moved $9. 3 billion in transactions in just four months. Furthermore, current estimates suggest that A7A5’s market cap is only $156 million. To reach these trade volumes in such a short window, the same few accounts would need to routinely circulate tokens amongst themselves source: https://beincrypto.com/kyrgyzstan-ruble-stablecoin-russia-sanctions/