Blockchain analytics agency Elliptic’s report exhibits that Russia’s ruble-backed stablecoin A7A5, launched final yr to assist evade sanctions, has processed over $100 billion in transactions in lower than a yr.
Russia-based cross-border funds agency A7 LLC launched the stablecoin in January 2025 to bypass Western sanctions. It claims a 1:1 backing by ruble deposits held at Russian state-owned Promsvyazbank (PSB).
Per the report launched on Thursday, the stablecoin issued on Ethereum and TRON blockchains processed practically 250,000 on-chain transactions from 41,300 distinct accounts.
“Transaction numbers elevated considerably in late September 2025, because of the introduction of the flexibility to buy A7A5 with PSB financial institution playing cards,” Elliptic famous.
In June 2025, Cryptonews reported that A7A5 crossed over $9.3 billion in transactions on crypto alternate Grinex.
The stablecoin helps facilitate sanction evasion by functioning as a 1:1 ruble-backed “secure harbour,” despite the fact that Tether’s USDT turned the first crypto asset for Russian sanctions evasion.
A7A5 Stablecoin Hits $100B Transactions – Right here’s How
The asset, which is at present listed solely on Uniswap, has a market cap of greater than $540 million, per CoinMarketCap knowledge.
Additional, the Elliptic knowledge exhibits that 35,500 accounts now maintain the stablecoin, a rise from the 14,000 in July 2025.
“Complete A7A5 alternate volumes have now reached $17.3 billion,” Elliptic added. “The first buying and selling pairs, A7A5/rubles ($11.2 billion) and A7A5/USDT ($6.1 billion), spotlight the stablecoin’s major position as a bridging asset between rubles and USDT.”
Stablecoin Provide Stalled Amid Heavy Western Sanctions
Apart from, the stablecoin exercise is at present displaying indicators of stalling after heavy sanctions by the US, UK and EU on Russia-linked cryptos. The Western sanctions have been imposed on Russia, concentrating on finance, power and items, for the reason that nation’s full-scale Ukraine invasion.
“Regardless of comparatively excessive transaction volumes, there are indications that demand for A7A5 has stalled,” Elliptic report famous. “There are simply over 42.5 billion A7A5 in circulation, with a US greenback worth of $547 million.”
Moreover, the transaction volumes have dropped from a peak of over $1.5 billion per day to round $500 million per day.
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