Ruble Stablecoin A7A5 Has Processed Close to $140 Billion Since February 2025 Launch
Ruble-denominated stablecoin A7A5 has processed close to $140 billion in turnover since its February 2025 launch, Pyotr Fradkov, CEO of Russia's PSB Bank, said.
The token is used primarily for cross-border settlements, with around 90% of flows reportedly linked to China. The platform serves roughly 15,000 regular customers and processes around 2,000 payments a day, per Fradkov.
Concentrated Ownership, Declining Trading Activity
The turnover figure diverges sharply from the structure of the underlying market.
One wallet holds 94.5% of A7A5's Tron-based supply - around $468 million of the roughly $475 million in A7A5 issued across Tron and Ethereum - according to a Crystal Intelligence report published July 30, 2026.
The wallet was created on May 4, 2026, 18 days after the Grinex shutdown, and received its balance almost entirely from a single distributor counterparty.
Daily transfer volumes fell 97% from their March high, dropping from $65 million to below $8 million by July 2026, after restrictions affected parts of the network.
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