The Russian ruble-backed stablecoin A7A5 has facilitated approximately $9.3 billion in transactions since its launch in Kyrgyzstan in February. The stablecoin, which is claimed to be 1:1 backed by Moscow's sanctioned Promsvyazbank, currently holds a market value of $151 million. Transactions are conducted through the Grinex platform, which denies any direct ties to the sanctioned Garantex exchange, despite analyses suggesting a potential business relationship between the two entities.