Ruble stablecoin issuer A7A5 targets 20% of Russian trade settlements

Ruble-pegged stablecoin issuer A7A5 aims to process over 20% of Russia's trade settlements with its stablecoin, CoinDesk reported. Oleg Ogienko, the company's head of external affairs, said A7A5 sees its main demand coming from companies in Asia, Africa, and South America that trade with Russia. He emphasized that the company fully complies with regulations in Kyrgyzstan and has a complete KYC/AML framework. However, Ogienko added that the stablecoin cannot currently be used directly within Russia as regulations are still under development.