Russian Ruble Stablecoin A7A5 Expands Despite Western Sanctions, Processes $110 Billion

Russian ruble backed stablecoin A7A5 has continued to expand despite sanctions imposed by Western governments, according to blockchain security firm CertiK. The stablecoin has processed more than $110 billion in cumulative onchain transactions and now accounts for around 43% of the global non-US dollar stablecoin market.

CertiK reported that the number of A7A5 holder wallets increased from 13,000 in February 2025 to 29,000 by May 2026, highlighting growing adoption. The firm described A7A5 as a major example of a sanctions-evasion stablecoin ecosystem linked to Russian cross-border settlement networks.

Sanctions Face Challenges Against Blockchain-Based Payments

A7A5 was launched in January 2025 by Kyrgyz-based Old Vector LLC on behalf of Russian settlement company A7 LLC. The company is co owned by Moldovan Russian businessman Ilan Shor and Russian state-owned lender Promsvyazbank.

CertiK said the stablecoin’s reserve assets are held within Russian and Central Asian banking systems, limiting the reach of Western sanctions. The token was also designed without a centralized kill switch, leaving control of wallet freezes with its developers.

Trading Activity Concentrated on Grinex

A7A5 recorded $11.2 billion in A7A5/RUB trading volume and $6.1 billion in A7A5/USDT trading, mainly through Grinex, the successor to Garantex. Despite regulatory pressure, CertiK believes A7A5’s structure was specifically built to avoid the weaknesses that affected previous sanctions-evasion methods.