Russia's Stablecoin Project Aims to Break Away from the USDT System, Promoting Cross-Border Crypto Settlements in Rubles

Odaily reports that the Ruble-based stablecoin project A7A5 has stated that even if the Russia-Ukraine situation eases in the future and some sanctions are lifted, the stablecoin will still have long-term viability. Its core value lies in cross-border settlement efficiency, earning capabilities, and the construction of regional crypto payment infrastructure. The stablecoin's current market capitalization is approximately $500 million. Initially designed to help Russia bypass banking restrictions, it aims to further evolve into a "direct settlement channel between stablecoins," enabling direct exchanges with other stablecoins without relying on the USDT, USDC, or the US dollar system. (CoinDesk)