The volume of transfers using the Russian stablecoin A7A5 has reached $6.1 billion since August 2025, despite the U.S. sanctions imposed on key participants in this cryptocurrency ecosystem.
This is reported by Finway
Token Manipulations to Evade Sanctions
In August, the U.S. imposed sanctions against the cryptocurrency exchange Grinex and the company Old Vector, which is the issuer of the A7A5 stablecoin. Following this, the operators of A7A5 destroyed over 80% of the tokens to bypass the restrictions and then issued them on a different wallet, avoiding ties to sanctioned assets.
In total, over 33.8 billion tokens worth approximately $405 million linked to Grinex were liquidated. Immediately after, an equivalent number of tokens was created on a new wallet, which subsequently became the primary one for transactions.
“Unlike a regular transfer, this method breaks the connection between old and new accounts, making it difficult to establish a link between the sanctioned tokens and the newly created ones,” journalists explained.
Transactional Activity and the Role of Financial Structures in the Russian Federation
The recorded transaction volume of the new wallet amounted to $6.1 billion. Transactions were primarily conducted during working hours in Moscow time, with the highest activity observed between 10:00 AM and 12:00 PM, while nighttime and weekend transactions were minimal. The new wallet collaborated with 11 counterparties, repeating previous operational schemes in the network.
The A7A5 stablecoin is part of the A7 network, created as an alternative channel for cross-border payments for the Russian Federation after its disconnection from international financial systems. In 2025, A7A5 received official status in the Russian Federation, and its backing is provided through the ruble on the “Promsvyazbank” platform, which owns 49% of the A7 infrastructure and is on the sanctions lists.
Financial market experts believe that the A7 network could capture a significant share of the Russian cross-border payments market. In addition to cryptocurrency operations, this network also offers traditional financial instruments, including settlements via promissory notes.
In March 2025, Tether, the issuer of USDT, blocked $28 million on addresses linked to Garantex — another sanctioned platform associated with the Grinex operator.