[Market Pulse] 💱 Russian Rouble‑Backed Stablecoin A7A5 Tops $40B in July Transactions
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A Russian ruble-pegged stablecoin named A7A5, launched in Kyrgyzstan by Promsvyazbank and payments firm A7, has seen staggering growth - facilitating over $40 billion in cross-border transfers in July alone according to blockchain analytics firm Elliptic.
👉 Daily transaction volume now exceeds $1 billion, and the market capitalization has tripled to around $521 million in just two weeks.
A7A5 is being used to bypass Western sanctions, particularly the exclusion of Russian entities from SWIFT, enabling cross-border trade notably with China. Its rapid adoption is raising concerns over regulatory oversight and potential misuse.
🔑 Key Takeaways:
- High transaction volume: $40B+ moved in July, with ~$1B/day through A7A5.
- Explosive growth in market cap: Up threefold to ~521M in two weeks.
- Geopolitical driver: Used by Russian businesses to evade Western sanctions.
- Regulatory red flag: Analysts warn of significant risk tied to sanctioned financial infrastructure.
💬 This massive rise of A7A5 showcases stablecoins as alternative payment rails in geopolitically isolated regions.
What should global regulators do? Should exchanges delist sanction-linked coins like A7A5?
Drop your thoughts below! 👇
