A7A5 Stablecoin Tops $100B in Transactions
Posted: Fri Jan 23, 2026 1:29 am
The ruble-backed stablecoin A7A5 has surpassed $100 billion in on-chain transactions in less than a year since its launch, according to a recent blockchain analytics report by Elliptic. This milestone highlights both the rapid adoption of the token and broader tensions between crypto innovation and international sanctions enforcement.
A7A5 was launched in January 2025 by Russian firm A7 LLC to help facilitate cross-border transactions for Russian businesses amid Western financial restrictions. It claims a 1:1 peg to the Russian ruble, backed by ruble deposits held at Promsvyazbank (PSB) — a Russian state-owned bank under Western sanctions. The stablecoin exists on both the Ethereum and TRON blockchains and has recorded nearly 250,000 transactions from over 41,000 distinct addresses.
A key function of A7A5 has been as a bridge between the ruble and USD-pegged stablecoins like USDT, enabling users to move value into broader crypto markets while attempting to reduce exposure to wallets that could be frozen under sanctions. Trading data shows about $17.3 billion in exchange volume, with Grinex, a Kyrgyzstan-based exchange, playing a major role in swaps between A7A5 and USDT.
However, the stablecoin’s growth has been tempered by heightened sanctions and compliance actions. After Western sanctions in mid-2025, issuance of new tokens essentially stopped, and daily transaction volumes declined from peaks above $1.5 billion to around $500 million. Major decentralized exchanges, including Uniswap, have blocked A7A5 on their platforms, and sanctions have even led to account freezes for users transferring USDT linked to A7A5 wallets.
The A7A5 case illustrates crypto’s evolving role in geopolitical finance — stablecoins can offer liquidity and settlement options outside traditional banking channels, but they can also become flashpoints in global regulatory and sanctions debates. As authorities continue to clamp down on tokens tied to sanctioned networks, the long-term viability of projects like A7A5 remains uncertain, even as they reshape how value moves across borders in a fragmented financial landscape.
A7A5 was launched in January 2025 by Russian firm A7 LLC to help facilitate cross-border transactions for Russian businesses amid Western financial restrictions. It claims a 1:1 peg to the Russian ruble, backed by ruble deposits held at Promsvyazbank (PSB) — a Russian state-owned bank under Western sanctions. The stablecoin exists on both the Ethereum and TRON blockchains and has recorded nearly 250,000 transactions from over 41,000 distinct addresses.
A key function of A7A5 has been as a bridge between the ruble and USD-pegged stablecoins like USDT, enabling users to move value into broader crypto markets while attempting to reduce exposure to wallets that could be frozen under sanctions. Trading data shows about $17.3 billion in exchange volume, with Grinex, a Kyrgyzstan-based exchange, playing a major role in swaps between A7A5 and USDT.
However, the stablecoin’s growth has been tempered by heightened sanctions and compliance actions. After Western sanctions in mid-2025, issuance of new tokens essentially stopped, and daily transaction volumes declined from peaks above $1.5 billion to around $500 million. Major decentralized exchanges, including Uniswap, have blocked A7A5 on their platforms, and sanctions have even led to account freezes for users transferring USDT linked to A7A5 wallets.
The A7A5 case illustrates crypto’s evolving role in geopolitical finance — stablecoins can offer liquidity and settlement options outside traditional banking channels, but they can also become flashpoints in global regulatory and sanctions debates. As authorities continue to clamp down on tokens tied to sanctioned networks, the long-term viability of projects like A7A5 remains uncertain, even as they reshape how value moves across borders in a fragmented financial landscape.