The supply of Russian ruble stablecoin A7A5 has surged by $90 billions, surpassing the growth of USDT and USDC.

According to ChainCatcher, citing CoinDesk, the ruble stablecoin A7A5 surpassed USDT and USDC in growth last year, with its supply increasing by nearly 90 billions USD.

This stablecoin was launched by A7 LLC and is associated with the Russian state-owned Promsvyazbank and Moldovan businessman Ilan Shor. It mainly helps Russian users bypass banking restrictions for cross-border payments. Despite Western sanctions, the ruble has appreciated by more than 40% against the US dollar this year, mainly benefiting from capital controls and central bank intervention.