Ruble-pegged stablecoin A7A5 surpassed USDT and USDC in supply last year.

CoinDesk reported that the Russian ruble-pegged stablecoin A7A5 grew its supply by approximately $90 billion last year, surpassing major dollar-based stablecoins such as USDT and USDC, becoming the fastest-growing stablecoin. The media outlet stated, “While USDT and USDC saw their supply increase by approximately $49 billion and $31 billion last year, respectively, A7A5 saw a significantly larger increase of $90 billion.” The publication explained that A7A5 is a ruble-backed token introduced by A7 LLC in January of last year. It was issued through a legal entity in the Kyrgyz Republic and is traded on the Tron (TRC-20) and Ethereum networks (ERC-20). Meanwhile, A7A5 is currently not traded on major exchanges (CEX) and is only circulated through Uniswap (UNI).