Crypto news

The scale of the A7A5 ruble stablecoin is impressive: since its launch, nearly $140 billion has passed through the platform, with a daily payment flow reaching 2,000 transactions. This confirms A7A5's status as the largest non-dollar stablecoin on the market, and the number of permanent corporate clients using A7 products is estimated at 15,000 companies.

Operational records and payment structure

The A7 platform operates as a full-fledged market infrastructure, processing up to 2,000 payments per day. These are transfers of various sizes—from large corporate settlements to small transactions by small businesses and individuals. Interestingly, the theory about the deliberate splitting of large export operations into smaller transfers is not confirmed: the base of 15,000 permanent clients is too diverse to suggest any single scheme.

Among the platform's end users are not only exporters but also micro-businesses and individuals. Typical scenarios include paying for vacations, medical treatment, and education abroad. In essence, A7A5 fills a niche inaccessible to traditional banking channels, ensuring seamless settlements in ruble equivalent.

Market positioning

A7A5 remains the dominant ruble stablecoin, pegged to the ruble exchange rate. Notably, the Central Bank of Russia provides no official comments on the project, although its scale has long surpassed the experimental stage. This does not stop some market participants from attempting to launch alternative ruble stablecoins bypassing A7A5, which only underscores the platform's significance.

My view: The $140 billion turnover is not just a number but a marker of infrastructure maturity. If the platform maintains its current pace, it could become a system-forming element for cross-border settlements in the ruble zone, especially given limited access to international payment systems. However, the lack of regulatory recognition remains a key risk that could slow further growth.