Report: Ruble Stablecoin A7A5 Achieves Over $100 Billion in On-Chain Transactions Within Less Than a Year of Launch

MarsBitNews · 2026-01-22T12:14:53+00:00

Blockchain analysis firm Elliptic reports that since its launch in 2025, the Ruble stablecoin A7A5 has surpassed $100 billion in on-chain transactions, mainly used to help Russian companies evade Western sanctions. However, since the US sanctions were imposed on it in August, trading volume has significantly decreased, with daily trading volume dropping from $1.5 billion to $500 million, and it has faced liquidity reduction and blocking by mainstream exchanges, leading the currency to become increasingly isolated.

MarsBitNews

2026-01-22 12:14:53

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Mars Finance reports that blockchain analysis firm Elliptic’s latest report shows that since the launch of the ruble stablecoin A7A5 in 2025, the total on-chain transaction volume has exceeded $100 billion. The stablecoin was led by Russian company A7 LLC and aims to help Russian enterprises evade Western sanctions. The main function of A7A5 is to serve as a bridge asset between the ruble and USDT, with a total transaction volume of $17.3 billion, most of which occurred on exchanges such as Grinex in Kyrgyzstan. Despite the significant trading volume, its growth has been notably restricted since August 2025 when the US and other countries imposed sanctions on A7A5. The issuance of new tokens has essentially stalled since late July, with daily trading volume dropping from a peak of $1.5 billion to about $500 million. Major DEXs like Uniswap have listed it on their token blocklists, and its USDT liquidity injection on its own DEX has been greatly reduced. The sanctions have led to risks of account freezing when users transfer USDT from A7A5 to mainstream exchanges, increasingly isolating it from the broader crypto ecosystem.

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