A7A5 Surges to World's Largest Non-USD Stablecoin, Sparking Sanctions Concerns

A7A5's rapid growth has made it the largest non-USD stablecoin. But its links to sanctioned entities and potential use in evading sanctions have raised serious concerns.

, and Administrator

2025 October 8 . 8:37 AM

2 min read

In this picture, we see the coin in gold and brown color. We see some text written as "The United... — In this picture, we see the coin in gold and brown color. We see some text written as "The United States Of America". It might be a money coin. In the background, it is brown in color and it looks like a carpet.

A7A5 Surges to World's Largest Non-USD Stablecoin, Sparking Sanctions Concerns

A7A5, a Russian ruble-backed stablecoin, has made headlines recently. Its market capitalisation surged dramatically, making it the world's largest non-USD pegged stocks. However, its association with sanctioned entities and potential use in circumventing sanctions has raised concerns.

A7A5's value skyrocketed two days after its launch at Singapore's Token2049 convention. Its market cap jumped by $473.58 million in a single day, surpassing Circle's EURC. This surge made A7A5 the world's largest non-USD stablecoin, with a market cap nearing $500 million, representing about 40.79% of the total stablecoin market capitalisation.

The stablecoin's rapid rise has been attributed to its use by several banks from Russia, Belarus, and Central Asia. These banks are reportedly using A7A5 to potentially bypass sanctions through crypto transactions. Over $6 billion has been moved across borders using A7A5 since August 2025, despite sanctions on some of its key operators.

A7A5's association with sanctioned entities, including the Grinex crypto exchange and Russian bank Promsvyazbank PSB, has drawn the attention of international bodies. The European Union is considering deploying sanctions against A7A5 to prohibit EU-based entities from engaging with the token.

Initially introduced in January by a Russian defense bank and a payment services provider, A7A5 has since been used extensively. However, over 80% of its total supply was destroyed and reissued after sanctions were announced on wallets linked to Grinex.

A7A5's meteoric rise to become the world's largest non-USD stablecoin is undeniable. However, its links to sanctioned entities and potential use in circumventing sanctions have raised serious concerns. The European Union's consideration of sanctions against A7A5 highlights the international community's attention to this issue. As the stablecoin continues to be used extensively, its future remains uncertain.