Russia-backed stablecoins reach annual trading volume exceeding $100 billions

Jinse Finance reported that the ruble-pegged stablecoin, issued to circumvent sanctions against Russia, has surpassed $100 billions in trading volume in less than a year since its launch—even though the token still faces ongoing restrictions. According to blockchain analytics firm Elliptic, the A7A5 stablecoin issued on the Ethereum and Tron networks has reached $17.3 billions in trading volume, with nearly 41,300 different accounts conducting close to 250,000 transactions.