Russia has become the leader in Europe in crypto deliveries

According to a Chainalysis report for the period from July 2024 to June 2025, Russia received $376.3 billion in cryptocurrency transfers, making it the largest market by this indicator among European countries.

For comparison: Great Britain — $273.2 billion, Germany — $219.4 billion.

The Chainalysis report is an annual study of the largest cryptocurrency flows in Europe. The company analyzes transactions in blockchains, determining the volume of incoming and outgoing transfers, institutional activity and the role of the DeFi segment. Chainalysis works with governments and exchanges around the world and is considered one of the most authoritative sources of analytics in the cryptocurrency space.

Analysts attribute the growth to an increase in the volume of large transfers (transactions over $10 million grew by 86%), as well as to the active development of the DeFi segment in Russia.

The report mentions the A7A5 stablecoin, “pegged to the ruble,” as one of the components of cross-border crypto payments. However, the exact extent of its use and role require further verification.

The growth of Russian crypto-receipts is a signal that countries under financial restrictions or looking for alternative payment models are increasingly using on-chain tools. At the same time, it highlights the need for increased regulation and transparency to ensure that such volumes do not remain unchecked.