Russia's ruble-backed A7A5 stablecoin has processed over $6 billion in cross-border transactions, achieving a market cap of 41 billion rubles ($500 million). Supported by state-owned Promsvyazbank, A7A5 operates on the Tron and Ethereum blockchains and is recognized as Russia's first digital financial asset. In response to U.S. sanctions against the Grinex exchange, operators burned 80% of the token supply linked to sanctioned wallets and reissued them to new addresses. The stablecoin primarily operates during Moscow business hours, underscoring Russia's use of blockchain to circumvent Western financial restrictions.
Russia's A7A5 Stablecoin Processes $6 Billion Amid Sanctions
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