The A7A5 ruble stablecoin: $140 billion in turnover and 2,000 payments per day — a new reality for settlements
The total turnover of the ruble stablecoin A7A5 since its launch has reached nearly $140 billion, and the A7 platform processes on average up to 2,000 payments per day. These figures were announced by PSB Chairman Pyotr Fradkov, confirming A7A5's status as the largest non-dollar stablecoin on the market.
The presented data significantly exceed previous estimates. Back in February, the volume of transactions with the stablecoin was estimated at $100 billion, but current statistics demonstrate an acceleration in growth rates. According to Fradkov, nearly $140 billion has passed through the system, indicating large-scale penetration of the instrument into the real sector of the economy.
Key indicators and client structure
The banker estimated the number of regular clients using A7 products at 15,000 companies. It is important to emphasize: this is not only about large businesses. Fradkov noted that the flow includes payments of "various levels" — from medium-sized companies to small businesses and individuals. This refutes the theory that large export operations are artificially split into small transfers to circumvent restrictions.
Among typical use cases are payments for vacations, medical treatment, and education abroad. "Life goes on. People travel for leisure, seek medical treatment, and pay for education. The system allows them to do this. It is a working mechanism," emphasized the head of PSB, noting the platform's versatility, covering both foreign trade settlements and everyday payments by citizens.
Regulator's position and market alternatives
Notably, the Bank of Russia has still not officially commented on the project, despite its scale having long exceeded the experimental format. This creates uncertainty but does not hinder growth. Moreover, some market participants are already attempting to launch alternative ruble stablecoins, seeking to carve out a niche by bypassing A7A5's dominance.
A7A5 remains pegged to the ruble and services settlements unavailable through traditional banking channels. Judging by the dynamics, the instrument has become systemically important for an entire segment of cross-border operations.
My comment: The figure of $140 billion with 2,000 payments per day is not just statistics but a marker of the formation of a parallel financial infrastructure. It is telling that the average transaction exceeds $190,000, indicating the corporate nature of the operations. However, the mention of everyday payments signals an attempt to expand the user base. The question is only how long the regulator will maintain neutrality while observing the growth of a system that de facto competes with the banking sector in cross-border settlements.