A rouble-backed stablecoin that could help Russia circumvent Western restrictions on payments has seen a jump in transaction volumes in July, with funds moved through the coin surging past $40 billion in total, blockchain research firm Elliptic said.
Sweeping Western sanctions since Russia’s February 2022 full-scale invasion of Ukraine, particularly the exclusion of Russian banks from the SWIFT global financial messaging system, have sorely hampered Moscow’s trading options and left
