Russia Surpasses Europe with $376 Billion Crypto Inflow Amid DeFi Boom and Stablecoin Adoption
Russia has emerged as Europe's dominant crypto recipient, processing $376 billion in on-chain transfers between July 2024 and June 2025—surpassing the UK's $273 billion. Chainalysis data reveals this surge was fueled by institutional-scale transactions and a rapid expansion in decentralized finance activity.
Transfers exceeding $10 million grew 86% year-over-year, while DeFi volumes stabilized at 3.5x mid-2023 levels. The growth trajectory suggests sophisticated players are increasingly leveraging blockchain networks for large-scale settlements.
A rouble-pegged stablecoin (A7A5) has become instrumental in cross-border flows, reaching $500 million market capitalization and facilitating $40 billion in recent transfers. This development has drawn scrutiny from Western regulators monitoring potential sanctions evasion through crypto rails.
