A7A5
| A7A5 | |
|---|---|
| Denominations | |
| Symbol | A7A5 |
| Development | |
| Original author(s) | A7 (issuer) |
| Development status | Active |
| Developer(s) | A7 / Grinex (exchange) |
Search A7A5 on Amazon.
A7A5 is a stablecoin pegged to the Russian rouble launched in February 2025 and registered in Kyrgyzstan.[1][2] It is linked to Promsvyazbank, a Russian-state owned bank, and was created to circumvent western sanctions on Russia.[3]
Overview
A7A5 was issued by an entity referred to in reports as "A7" and began circulating alongside an exchange named Grinex, which supports trading in A7A5, Russian roubles and other digital assets. The token has been described as backed by Russian rouble deposits.[1]
Investigations and criticism
Blockchain analytics and investigative reporting documented rapid growth in on-chain transfer volumes associated with A7A5. Early analyses cited aggregate flows of approximately US$9 billion within the first months after launch, while subsequent analytics reported cumulative transfers that surged past US$40 billion following a spike in July 2025. Reports also provided estimates of outstanding token supply and implied market valuations.[1][2]
Journalistic investigations and corporate-registry traces reported links between the issuer and a network of actors with prior legal exposure; reporting also linked the stablecoin's claimed rouble reserves to Russian banking entities under sanctions.[1][4]
Multiple international outlets characterized A7A5 as part of a wider set of Russian rouble-linked crypto instruments that observers warned could be used to route payments outside traditional banking rails and thereby undermine the efficacy of international financial sanctions. The project drew scrutiny from financial journalists and blockchain analytics firms.[5][6]
References
- ↑ 1.0 1.1 1.2 1.3 "Sanctions-Busting Kyrgyz Cryptocurrency Moves $9 Bln – FT". The Moscow Times. 25 June 2025.
- ↑ 2.0 2.1 Marrow, Alexander; Howcroft, Elizabeth (28 July 2025). "Transfers with rouble-backed crypto coin pass $40 billion after July spike, researchers say". Reuters.
- ↑ Stognei, Anastasia. "Kremlin-backed crypto coin moves $6bn despite US sanctions". Financial Times. Retrieved 2025-10-07.
- ↑ "La 'stablecoin' A7A5, la herramienta de Rusia para evadir las sanciones internacionales". Cinco Días (El País) (in español). 26 June 2025.
- ↑ "Crypto coin for Russian shadow payments moves $9bn". Financial times. Retrieved 11 August 2025.
- ↑ "Whale-watching the stablecoin trade in ersatz roubles for sort-of dollars". Financial Times. Retrieved 11 August 2025.
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