Report: Ruble stablecoin A7A5 has exceeded $100 billion in total on chain transactions in less than a year since its launch The latest report from blockchain analysis company Elliptic shows that since the launch of ruble stablecoin A7A5 in January 2025, the total amount of on chain transactions has exceeded 100 billion US dollars. The stablecoin is led by Russian company A7 LLC and aims to help Russian companies evade Western sanctions. The main function of A7A5 is to serve as a bridge asset between the ruble and USDT, with a total trading volume of $17.3 billion, with the vast majority of transactions occurring on exchanges such as Grinex in Kyrgyzstan. Despite significant trading volume, the growth of A7A5 has been significantly limited since the United States and other countries imposed sanctions on it in August 2025. The issuance of new tokens has basically stagnated since the end of July, with daily trading volume dropping from a peak of $1.5 billion to about $500 million. Uniswap and other major DEX have included it in the token blocking list, while their own DEX's USDT liquidity injection has significantly decreased. The sanctions have led to users facing account freeze risks when transferring USDT from A7A5 to mainstream exchanges, increasingly isolating them from the broader cryptocurrency ecosystem.