Ruble stablecoin A7A5's total on chain transactions exceed $100 billion

According to a report by blockchain analysis company Elliptic, the total on chain transactions of ruble stablecoin A7A5 have exceeded $100 billion since its launch in January 2025. This stablecoin was launched by Russian company A7 LLC with the aim of assisting Russian companies in evading Western sanctions. It mainly serves as a bridge asset between the ruble and USDT, with a total trading volume of $17.3 billion, and transactions are concentrated on platforms such as Grinex in Kyrgyzstan. Since the United States and other countries imposed sanctions on A7A5 in August 2025, its growth has been limited, new token issuance has stagnated, and daily trading volume has dropped from a peak of $1.5 billion to approximately $500 million. Major decentralized exchanges such as Uniswap have blocked the token, resulting in a significant reduction in the USDT liquidity injection of its own DEX. Users face account freeze risks when transferring USDT to mainstream exchanges.