The A7A5 ruble stablecoin: $140 billion in turnover and 2,000 transactions daily
The scale of usage of the ruble stablecoin A7A5 continues to impress. Since its launch, the total turnover through this payment infrastructure has reached nearly $140 billion, with a daily flow of transactions steadily holding at up to 2,000 transactions. These figures were announced by PSB Chairman Pyotr Fradkov, confirming that A7A5 remains the largest non-dollar stablecoin on the market.
According to the banker's estimates, around 15,000 companies are regular users of A7 products. These are far from being only giants of foreign trade—the client base includes mid-sized businesses, small enterprises, and even private individuals. Fradkov refuted assumptions that large export contracts are artificially split into small transfers to inflate statistics. "We have 15,000 companies as regular clients using A7 products. That's a lot, and these are companies of various levels," he emphasized.
Who pays through A7A5 and why
The range of use cases for the stablecoin extends far beyond corporate settlements. According to Fradkov, typical scenarios for private clients include paying for vacations, medical treatment, and education abroad. "Life goes on. People travel for leisure, people seek medical treatment, people pay for education. And the system allows them to do this. It's a working mechanism," he noted.
It is precisely this versatility that explains the range of amounts in the platform's statistics. Large exporters form the backbone of turnover, but the flow of small transfers from small businesses and citizens adds resilience and mass adoption to the platform. A7A5 remains pegged to the ruble and services settlements that are unavailable through traditional banking channels, making it an indispensable tool under current conditions.
Notably, the Bank of Russia has still not officially commented on the project, despite the fact that its scale has long exceeded the experimental format. Attempts to launch alternative ruble stablecoins are already emerging in the market, but A7A5 continues to hold its leadership.
My view: The fact that A7A5's turnover has exceeded $140 billion with 15,000 regular clients points to a high concentration of large payments, which is typical for B2B infrastructures. However, the growing share of retail operations is a signal that the stablecoin is gradually transforming into a full-fledged payment instrument, not just a solution for corporate needs. This makes it a key player in the alternative settlements segment, and the regulator's disregard of this fact looks increasingly risky.