Sanctioned A7A5 becomes the largest non-US dollar stablecoin: Data

Despite broad sanctions, the Russian ruble-pegged A7A5 stablecoin has emerged as the top non-US dollar stablecoin with a market cap of $500 million.

A7A5, a Russian ruble-backed stablecoin issued in Kyrgyzstan, has become the world’s largest non-US dollar stablecoin despite facing multiple sanctions.

A7A5’s market capitalization stood at nearly $500 million on Monday, about 43% of the total $1.2 billion market cap of non-US dollar stablecoins, according to data from CoinMarketCap and DefiLlama.

“We have already proven that a national digital currency can be not only an alternative to the dollar but also a driver of global change,” A7A5 wrote on its Telegram channel on Saturday.

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