On April 14, 2025, after Tether froze 27 million USDT of the Garantex exchange (sanctioned by the US), the Russian Ministry of Finance proposed issuing a 'made in Russia' stablecoin to reduce dependence on USDT. This move not only helps Russia cope with financial restrictions but also opens up positive prospects for the global cryptocurrency market in the long term.


Russian stablecoin: A Solution for International Payments

The #Tether freezing of 27 million USDT from Garantex – the exchange sanctioned by the US – has raised concerns about the risk of wallet locks when using foreign stablecoins. In response, the Russian Ministry of Finance proposed issuing domestic stablecoins, aiming to avoid the risk of freezing and support international payments, especially as Russia is restricted from using the SWIFT system due to sanctions. This stablecoin will be designed to ensure financial independence while promoting cross-border transactions with friendly countries.


Positive Impact on the Crypto Market

Russia's proposal brings many optimistic prospects for the cryptocurrency industry in the next 3-5 years:



  • Diversification of stablecoins: The emergence of Russian stablecoins will reduce the dominance of #USDT (market cap of 119 billion USD, accounting for 51.7% of the stablecoin market), encouraging other countries to develop domestic stablecoins. This creates a more diverse market, increasing competition and innovation.


  • Promoting international payments: Russian stablecoins could become an effective payment tool for countries restricted by traditional financial systems, expanding the use of cryptocurrency globally.


  • Increasing trust in blockchain: A country like Russia investing in stablecoins demonstrates confidence in blockchain technology, thereby encouraging other governments and financial institutions to participate, promoting widespread acceptance.



Conclusion

The proposal to issue domestic stablecoins by Russia is an important step, not only helping the country overcome financial restrictions but also contributing to reshaping the global cryptocurrency market. In the next 3-5 years, with the diversification of stablecoins and enhanced blockchain applications in international payments, the crypto industry can expect a strong development future, providing significant opportunities for investors and users worldwide.


Risk warning: Crypto investment carries high risks due to price volatility and legal uncertainty. Please consider carefully before participating. #anhbacong