By Rae Wee and Elizabeth Howcroft

SINGAPORE/PARIS (Reuters) -The business behind a rouble-backed cryptocurrency targeted by U.S. sanctions was among the sponsors of a major crypto conference in Singapore this week, as demand soars for the token, used by Russians.

The TOKEN2049 event is one of the biggest on the global crypto calendar, with more than 25,000 attendees, over 500 exhibitors, and industry elite among the speakers, including the eldest son of the U.S. president.

The U.S. and Britain in August sanctioned several companies that they said were behind Kyrgyzstan-based A7A5, a stablecoin pegged to the rouble that was launched in January by a Russian defence lender and a payments firm.

They described the token as part of a network for helping Russians evade Western sanctions.

A7A

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