Russia’s A7A5 Stablecoin Processed $100B Amid Global Scrutiny

An obscure Russian stablecoin, A7A5, has emerged as a significant conduit for $100 billion in transactions before facing international crackdowns. Initially pegged to the rouble, the token gained rapid adoption among entities cut off from traditional banking channels.

Elliptic's analysis reveals explosive growth, with daily volumes reaching billions. The stablecoin operated through private entities linked to Russia's financial network—some now sanctioned by Western governments.

The mechanism relied on a handful of exchanges and blockchain pathways, enabling cross-border settlements despite banking restrictions. A7A5 effectively bridged users to broader crypto markets when conventional rails became inaccessible.

Regulators now scrutinize its alleged role in sanctions evasion. The token's infrastructure—tied to scrutinized payments firms and banks—demonstrates crypto's dual-use potential in geopolitically strained financial environments.