Russian stablecoin project seeks to break away from USDT system, promoting cross-border crypto settlements in rubles

According to Odaily, the Russian 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, yield-generating capabilities, and the development of regional crypto payment infrastructure. The stablecoin currently has a market capitalization of approximately $500 million and was initially designed to help Russia bypass banking restrictions. However, its future goal is to evolve into a "direct settlement channel between stablecoins," enabling direct exchanges with other stablecoins without relying on the USDT, USDC, or dollar systems. (CoinDesk)