New stablecoin user growth in war-torn countries has hit escape velocity.
When Russia invaded Ukraine, the financial system crumbled.
Banks shut down. ATMs stopped working.
But something else turned on.
Stablecoins.
Analyzing 23M wallets at @addressableid with @MessariCrypto for the State of Stablecoin report revealed an interesting truth.
In 2021, only 43k Ukrainians used USDC, USDT.
In 2023? Over 635k.
That’s 14x growth. In a warzone.
Ukraine saw the fastest rise in stablecoin adoption, globally.
They didn’t “buy crypto”. They used it to survive.
The banks failed. Crypto cleared its throat.
So when we question whether “crypto is a promise”... A war proved the case.
The Genius Act passed in the U.S.
Now Congress scrambles to catch up to what Ukrainians already knew:
• Stablecoins don’t need your permission.
They show up when everything else collapses.
This isn’t speculation. It’s financial infrastructure, born on-chain.
The West is still debating.
The rest of the world is already moving.
The unbanked? They’re not asking.
They’re using.
And when your system fails…
Who’s banking you?
You think this is just about Ukraine, until it’s your currency, your borders, your banking crisis.

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