- Claims that the ruble stablecoin The claims that the A7A5, designed to circumvent economic sanctions, is being actively distributed in Africa are not true.
- This is confirmed, in particular, by the low trading volume on the decentralized exchange Uniswap.
Ukrainian Center for Countering Disinformation сообщилthat Russia is popularizing ruble-denominated stablecoins A7A5 (A7A5) to circumvent sanctions.
According to Ukrainians, Russians are promoting a platform called A7 for cross-border money payments in Nigeria, Zimbabwe, and other African countries, based on A7A5. The digital asset-based system allows for evasion of economic restrictions imposed on Russia and serves as an alternative to SWIFT.
The payment platform, which uses stablecoins, is allegedly linked to PSB Bank and the Moldovan pro-Russian oligarch Ilan Shor, who, as believe employees of the analytics firm Elliptic, founded A7 in 2024. In his homeland, Ilan is accused of committing fraud for the theft of assets worth $1 billion from banks.
If the Russian authorities are indeed promoting A7A5 in Africa, their efforts are not yet producing results. This is evidenced by the fact that the market capitalization of ruble-denominated stablecoins has remained virtually unchanged over the past six months. hesitates in the region of ₽41 billion, and the daily volume of coin trading on the exchange Uniswap amounts to only ₽378,214.
Change in market capitalization A7A5
The main reason for the low demand for the A7A5 is the sanctions, introduced against the Kyrgyz cryptocurrency issuer Old Vector. The company fell into disgrace for assisting Russia in evading sanctions, which Kyrgyz President Sadyr Japarov believes has not been proven.
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