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Analysis: A7A5, billed as the first Russian ruble-pegged stablecoin for cross-border payments, has moved $9.3B on a dedicated exchange after a February launch (Financial Times)

54d ago
Technology
Techmeme
Analysis: A7A5, billed as the first Russian ruble-pegged stablecoin for cross-border payments, has moved $9.3B on a dedicated exchange after a February launch (Financial Times)
The A7A5, a Russian ruble-pegged stablecoin, has facilitated $9.3 billion in transactions on its dedicated exchange since launching in February, according to the Financial Times. Marketed as a tool for cross-border payments, A7A5 aims to ease financial disruptions caused by the Ukraine war. The token's rapid adoption highlights the demand for alternative financial channels amidst sanctions and restrictions affecting traditional banking systems in the region. While details about the exchange and user base remain limited, the substantial transaction volume suggests a significant role in facilitating trade and financial flows.
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