Stablecoin A7A5, pegged to the Russian ruble, is currently one of the three leading tokens in terms of daily transfers on the Tron blockchain.
Virtual currencies that are subject to Western sanctions against Ukraine $USDD However, it is still far from supporting the dollar. $USDT.
A7A5 rises to the top of Troncoin by trading volume
The Russian ruble-denominated stablecoin A7A5 is already one of the digital tokens with the largest trading volume on the TRON network.
According to data provided by the TronScan analysis portal and cited by Russian crypto media, the controversial crypto ranked among the top three in the network.
According to blockchain explorers, A7A5’s daily transfer amount is currently approaching $175 million, and its market capitalization exceeds $486 million.
Latest numbers show this coin has outperformed the decentralized USD ($USDD), processed just over $153 million in transactions on Wednesday.
However, Russian fiat-backed cryptocurrencies remain in second place behind the most popular stablecoin, Tether pegged to the US dollar ($USDT).
Rubles stablecoin records impressive growth
A7A5 was launched in early 2025 amid crippling sanctions that severely restrict Russia’s access to traditional financial channels and global markets.
This was presented as an alternative that would allow Moscow to circumvent the financial restrictions imposed by the West in response to its invasion of Ukraine.
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The company has processed more than $100 billion in transactions in less than a year, according to data compiled by blockchain forensics firm Elliptic.
In addition to Tron, it is also available on the Ethereum blockchain. According to DeFiLlama, A7A5 has over 39 billion tokens in circulation.
The token accounts for almost half of the global non-dollar stablecoin market and is listed on both centralized and decentralized exchanges.
In September, the Central Bank of Russia recognized cryptocurrencies as digital financial assets (DFA) under Russian law, opening the legal door to their use in international payments.
A7A5 makes it easier for Russia to evade sanctions
The stablecoin was reportedly created by Russian company A7. The latter is majority-owned by fugitive Moldovan oligarch and Russian national Ilan Shor.
At the same time, it is published by Old Vector, a company registered in Kyrgyzstan. The team claims that the project is now “completely independent.”
In addition to the two companies, other entities related to the A7A5 are also subject to sanctions. The list also includes Grinex, a Kyrgyzstan-based successor to failed Russian cryptocurrency exchange Garantex.
The token is believed to be backed by ruble deposits at PSB (formerly Promsvyazbank), a licensed Russian state-owned bank.
A7A5 is pegged 1:1 to Russia’s national currency and its transactions are handled by the Tokeon digital asset platform, part of the PSB Group.
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Russian business news portal RBC’s crypto page reported that Western analysts also agree that stablecoins have become an effective tool for cross-border payments and circumventing regulations.
Ukraine’s allies are trying to thwart Russia’s attempts to use cryptocurrencies, including Tether, the largest stablecoin, to trade with partners or fund military operations in neighboring countries.
As Cryptopolitan recently reported, Russia is preparing to comprehensively regulate activities related to cryptocurrencies, such as investing and trading, but is betting on stablecoins for payments.
Meanwhile, the crypto market in Kyrgyzstan is growing, with the former Soviet republic issuing a dollar-pegged stablecoin called USDKG that is said to be backed by gold reserves.
Kyrgyz financial institutions and digital asset platforms have also been found to be subject to sanctions by the EU, UK and US
In November, the Kyrgyz National Bank authorized commercial banks to open escrow accounts for operations related to virtual currencies.
