Ruble Stablecoin A7A5 Transfers Over $100 Billion in One Year, Market Value Shrinks by 96%

The Ruble stablecoin A7A5 has transferred over $100 billion in funds in its first year since launch, primarily to circumvent Western sanctions. Now, the token's market value has shrunk by 96%. Although A7A5's smart contracts continue to function normally, it only holds actual value once exchanges are completed. Following sanctions imposed by the U.S., U.K., and EU on its underlying network, the on-chain funds of this token have been marked as "sanctioned." Mainstream trading platforms generally conduct compliance checks on deposit addresses, and on-chain analysis tools can identify the flow of funds, leading to freezing or interception of assets. While A7A5 itself cannot be frozen, its fiat deposit and withdrawal channels and trading access are hindered, severely limiting its actual circulation capacity.

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