A7A5 is a stablecoin launched in Kyrgyzstan in early 2025, pegged 1:1 to the Russian ruble. It operates on the Ethereum and Tron blockchains and is officially positioned as a tool for cross-border payments and facilitating international trade.
According to international financial analysts and media, the project is closely linked to Russia's sanctioned Promsvyazbank (PSB). This makes A7A5 an effective mechanism for circumventing international financial restrictions, allowing ruble transactions outside the traditional SWIFT banking system.
Since its launch, the stablecoin has seen explosive growth in transaction volumes, reaching a turnover equivalent to tens of billions of dollars in just a few months, demonstrating its high demand.
According to the Financial Times, over $9,3 billion in transactions were carried out using A7A5 in the first half of 2025.
Closely associated with the Grinex exchange, the successor of the Garantex exchange.
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