PANews reported on June 26 that according to BeInCrypto, the ruble stablecoin A7A5 issued by Kyrgyzstan has achieved a trading volume of $9.3 billion in four months, but its currentPANews reported on June 26 that according to BeInCrypto, the ruble stablecoin A7A5 issued by Kyrgyzstan has achieved a trading volume of $9.3 billion in four months, but its current
Russian ruble-backed stablecoin A7A5 reaches $9.3 billion in trading volume in four months
PANews reported on June 26 that according to BeInCrypto, the ruble stablecoin A7A5 issued by Kyrgyzstan has achieved a trading volume of $9.3 billion in four months, but its current market value is only $156 million. On-chain data shows that most of the stablecoin's trading volume is concentrated in the sanctioned Russian exchange Grinex (formerly Garantex), and the high-frequency turnover of the same batch of accounts has pushed up the trading data.
It is worth noting that there is evidence that A7A5's ruble reserves are actually stored in the Russian state-owned bank Promsvyazbank, which mainly serves the Russian defense industry. Russian Finance Ministry officials have publicly stated that they will use such stablecoins to challenge the dominance of the US dollar. Analysis points out that this abnormal transaction pattern shows that Russia may circumvent international sanctions through Kyrgyzstan's stablecoin project.
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact [email protected] for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
You May Also Like
Markets await Fed’s first 2025 cut, experts bet “this bull market is not even close to over”
Will the Fed’s first rate cut of 2025 fuel another leg higher for Bitcoin and equities, or does September’s history point to caution? First rate cut of 2025 set against a fragile backdrop The Federal Reserve is widely expected to…
Share
Crypto.news2025/09/18 00:27
Polygon Tops RWA Rankings With $1.1B in Tokenized Assets
The post Polygon Tops RWA Rankings With $1.1B in Tokenized Assets appeared on BitcoinEthereumNews.com. Key Notes A new report from Dune and RWA.xyz highlights Polygon’s role in the growing RWA sector. Polygon PoS currently holds $1.13 billion in RWA Total Value Locked (TVL) across 269 assets. The network holds a 62% market share of tokenized global bonds, driven by European money market funds. The Polygon POL $0.25 24h volatility: 1.4% Market cap: $2.64 B Vol. 24h: $106.17 M network is securing a significant position in the rapidly growing tokenization space, now holding over $1.13 billion in total value locked (TVL) from Real World Assets (RWAs). This development comes as the network continues to evolve, recently deploying its major “Rio” upgrade on the Amoy testnet to enhance future scaling capabilities. This information comes from a new joint report on the state of the RWA market published on Sept. 17 by blockchain analytics firm Dune and data platform RWA.xyz. The focus on RWAs is intensifying across the industry, coinciding with events like the ongoing Real-World Asset Summit in New York. Sandeep Nailwal, CEO of the Polygon Foundation, highlighted the findings via a post on X, noting that the TVL is spread across 269 assets and 2,900 holders on the Polygon PoS chain. The Dune and https://t.co/W6WSFlHoQF report on RWA is out and it shows that RWA is happening on Polygon. Here are a few highlights: – Leading in Global Bonds: Polygon holds 62% share of tokenized global bonds (driven by Spiko’s euro MMF and Cashlink euro issues) – Spiko U.S.… — Sandeep | CEO, Polygon Foundation (※,※) (@sandeepnailwal) September 17, 2025 Key Trends From the 2025 RWA Report The joint publication, titled “RWA REPORT 2025,” offers a comprehensive look into the tokenized asset landscape, which it states has grown 224% since the start of 2024. The report identifies several key trends driving this expansion. According to…
Share
BitcoinEthereumNews2025/09/18 00:40
QNT Technical Analysis Jan 21
The post QNT Technical Analysis Jan 21 appeared on BitcoinEthereumNews.com. QNT’s MACD histogram showing a positive trend and RSI stabilizing in the neutral zone
Share
BitcoinEthereumNews2026/01/21 23:54
