Russian stablecoin project aims to move away from USDT system and promote ruble-based cross-border crypto settlements

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 still has long-term viability. Its core value lies in cross-border settlement efficiency, earning capabilities, and the development of regional crypto payment infrastructure. The stablecoin currently has a market capitalization of approximately $500 million. It was initially designed to help Russia bypass banking restrictions, but in the future, it aims to develop further into a "direct settlement channel between stablecoins," enabling direct exchanges with other stablecoins without relying on USDT, USDC, or the dollar system. (CoinDesk)