Updated: 2026-05-20
- The ruble-pegged A7A5 has suddenly gained attention due to increased trading activity on decentralized exchanges.
- Over 90% of stablecoins are still in the hands of the five largest whales.
The only ruble-denominated asset, A7A5, has seen significant growth in recent days, capturing over 41% of the global non-dollar-pegged stablecoin market. Over the past year, the digital asset increased the number of active wallets and on average was involved in transfers of almost $1 million per day, mainly in the form of p2p transfers on networks Ethereum и TRON.
Steyblecoin is available in a limited number of trading pairs on the crypto exchange Uniswap, where activity has reached record levels over the past week.
Against the backdrop of the strengthening ruble token is trading at around $0,013. The total issue volume of A7A5 has exceeded $511 million, according to According to CoinGecko.
Over 90% of the tokens are still in the hands of the top five whales, but recent trading could help spread the token throughout the crypto ecosystem.
A7A5 stablecoin was released in February 2025 as a settlement instrument for Russian businesses disconnected from SWIFT. Token pegged 1:1 to the ruble, issued by Old Vector LLC of Kyrgyzstan, with reserves held in ruble deposits at sanctioned Promsvyazbank. Approximately 99% of all transactions are conducted online. Tron, outside the direct control of Western regulators.
Despite the growing attention, A7A5 remains It’s a niche asset with limited liquidity and is not yet listed on major centralized exchanges. This is partly due to the fact that the digital asset is subject to the most stringent cryptocurrency-related sanctions against Russia, which prohibits the issuance of stablecoins in third countries.
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