Russian stablecoin usage surged after Ukraine invasion: Report By Cointelegraph

A new report from blockchain analytics firm Chainalysis has shown a surge in stablecoin usage in Russia following the Russian invasion of Ukraine, which has since seen sanctions and inflation impacting the country.

Released on Oct. 12, the report revealed that the share of stablecoin’s transaction volume on primarily Russian services increased from 42% in January to 67% in March following the invasion, and has continued to increase since.