Ruble-Powered A7A5 Stablecoin Hits $9.4B Trading Frenzy on Grinex—Garantex 2.0 Strikes Gold

Move over, Tether—Russia's ruble-backed A7A5 stablecoin just posted a staggering $9.4B volume on Grinex, the phoenix-like successor to sanctioned Garantex. Who said compliance was bad for business?

Behind the numbers: Grinex's liquidity surge proves crypto markets will route around sanctions like water around rocks—with traders clearly voting with their wallets. The platform's 'regulated rebel' positioning seems to be paying off.

Why it matters: When a stablecoin tied to a currency under 3,000 sanctions starts outperforming DeFi darlings, it's either financial innovation at work...or the ultimate testament to crypto's amorality. Place your bets.

A7A5 Stablecoin Linked To Ilan Shor – Sanctioned Moldovan Businessman

Analysts, however, remain sceptical of the Ruble-backed stablecoin’s broader adoption because of the token’s clustered activity and unclear fund origins.

Additionally, the Centre for Information Resilience had unveiled linkages of the A7A5 stablecoin to Ilan Shor, a sanctioned Moldovan businessman, convicted of fraud. He was promoting the stablecoin at Russia’s St Petersburg International Economic Forum earlier this month.

A7A5, however, has claimed to sever ties with Shor in May.

Grinex has highlighted its aim to bring in more USDT alternatives rather than create vehicles to circumvent sanctions.

: Top 20 Crypto to Buy in June 2025

Their spokesperson was quoted by another publication stating, “We strongly condemn any FORM of illegal activity, including sanctions evasion, money laundering, etc. All suspicious transactions are automatically blocked.”

On 7 March 2025, the US Department of Justice (DoJ) announced the disruption of Grarantex in coordination with authorities in Germany and Finland. In their joint operation, authorities seized Garantex’s domains in Germany and Finland.

Prosecutors pressed criminal charges against Garantex’s administrators, Aleksej Besciokov and Aleksandr Mira Serda, who oversaw the laundering operations, and authorities froze over $26 million of illegal funds.

: Best New Cryptocurrencies to Invest in 2025

Key Takeaways

• Grinex, the controversial crypto exchange, has processed over $9.3 billion of the Ruble-backed stablecoin A7A5
• The A7A5 stablecoin has a market cap of $151 million, with about 12 million tokens in circulation
• The Ruble-backed stablecoin’s circulating supply surpassed $140 million within a week of its launch