The A7A5 ruble stablecoin processed nearly $100B in a single year — Russia has essentially built a parallel SWIFT on-chain, and most Western sanctions frameworks are still chasing wallets rather than the stablecoin infrastructure layer.
Russia's ruble-backed stablecoin play is a direct blueprint for how any sanctioned state (Iran, North Korea, Venezuela) could use crypto-native stablecoins to route around SWIFT entirely — critical intelligence for anyone building DeFi compliance tools or trading infra that touches cross-border flows.