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Russia Eyes National Stablecoin After US Freezes Garantex-Linked Wallets

A senior Russian finance official has called for the development of a national stablecoin following the US government’s freeze of wallets linked to the sanctioned crypto exchange Garantex.

The move, which also involved stablecoin issuer Tether, has sparked renewed concerns in Moscow over the vulnerability of relying on foreign-backed digital assets.

The push for a Russian stablecoin comes amid a surge in global stablecoin usage. According to a joint study by Artemis and Dune, active stablecoin wallets rose by over 50% year-over-year, with total market capitalization surpassing $200 billion in early 2025.

Russia Eyes National Stablecoin After US Freezes Garantex-Linked Wallets

A senior Russian finance official has called for the development of a national stablecoin following the US government’s freeze of wallets linked to the sanctioned crypto exchange Garantex.

The move, which also involved stablecoin issuer Tether, has sparked renewed concerns in Moscow over the vulnerability of relying on foreign-backed digital assets.

The push for a Russian stablecoin comes amid a surge in global stablecoin usage. According to a joint study by Artemis and Dune, active stablecoin wallets rose by over 50% year-over-year, with total market capitalization surpassing $200 billion in early 2025.

https://99bitcoins.com/news/russia-eyes-national-stablecoin-after-us-freezes-garantex-linked-wallets/