The A7A5 stablecoin has captured a significant share of the non-dollar asset market and is used to circumvent sanctions in cross-border transactions.
The A7A5 stablecoin, used by Russian companies to circumvent Western sanctions, has captured 43% of the entire non-dollar stablecoin market in its first year of existence, Forbes reports.
It is pegged to the ruble and operates almost entirely on the Tron cryptocurrency. Cumulative on-chain transactions worth approximately $100 billion have been recorded in less than a year—more than 250,000 transactions from 41,300 wallets. At its peak, before Western sanctions against A7 companies, daily volume reached $1.5 billion.
The parent company, A7 LLC, is 51% owned by convicted Moldovan oligarch Ilan Shor, and 49% by Promsvyazbank, which services approximately 70% of the Russian Ministry of Defense's contracts.
A7A5 is subject to Western sanctions for facilitating Russian trade, yet it cannot legally operate within Russia, where stablecoin legislation has not yet been adopted. It exists in a legal limbo.
Vyacheslav Derevyagin
Analyst
Responsible for working with data: OSINT investigations, analysis of corporate registries, offshore structures and financial flows.
