A7A5 becomes the world's largest non-US dollar stablecoin, reaching a market value of 500 million USD in a single day

ChainCatcher news, despite multiple sanctions, the A7A5 stablecoin pegged to the Russian ruble has become the largest non-USD stablecoin by market capitalization globally. According to data from CoinMarketCap and DeFiLlama, A7A5's market cap reached nearly $500 million on Monday, accounting for about 43% of the total market cap of non-USD stablecoins ($1.2 billion).

A7A5 experienced an astonishing 250% increase in a single day on September 25, with its market cap rising by $350 million, surpassing the euro stablecoin EURC issued by Circle. Despite being sanctioned by the U.S. and the U.K. due to its association with sanctioned entities and being accused of circumventing Western financial restrictions, it continues to maintain its growth momentum.