Rubles‑linked stablecoin A7A5 exceeds $100 billion despite EU and US sanctions

crypthub

1 day ago

Digital Asset Shift

A stablecoin named A7A5, pegged 1:1 to the Russian ruble, exemplifies a growing trend toward digital settlements. Launched in February 2025 under Kyrgyz regulation, it is issued by Old Vector LLC and runs on Tron and Ethereum. The token is backed by ruble‑denominated bank deposits that generate passive interest for holders. Issuer claims compliance with international KYC/AML standards and denies sanctions‑evasion accusations.

Scale of Operations

In its first year A7A5 processed roughly $39 billion, later surpassing $100 billion in volume. Circulating supply grew by $90 billion, while trading reached $17.3 billion across A7A5/RUB and A7A5/USDT pairs. Holders increased from 14 000 to 35 500, pushing market cap near $540 million. The token lists on Grinex, Meer, and Bitpapa exchanges.

Regulatory Scrutiny

US and UK authorities sanctioned the Grinex exchange in August 2025, linking it to prior illicit platforms. Within four months, $9.3 billion of A7A5 transactions moved through Grinex. The EU’s 19th sanctions package in October 2025 barred all A7A5 dealings, citing potential financing of military activities. These measures reflect heightened concern over the token’s rapid growth.

Growth Despite Restrictions

Sanctions have not stopped demand for ruble‑based cross‑border channels, and A7A5 continues to expand. The case suggests national‑currency digital assets may become parallel payment infrastructure in restricted economies. Whether sustained regulatory pressure can curb this trajectory remains uncertain.

Rubles‑linked stablecoin A7A5 exceeds $100 billion despite EU and US sanctions

Digital Asset Shift

Scale of Operations

Regulatory Scrutiny

Growth Despite Restrictions

Rubles‑linked stablecoin A7A5 exceeds $100 billion despite EU and US sanctions