A7A5 Thrives Despite Sanctions, Adding $350M in One Day

[madmax]

The A7A5 stablecoin, pegged 1:1 to the Russian ruble, added an astonishing $350 million to its market cap on Sept. 25, a 250% jump in just 24 hours.

The surge came even as A7A5 remains under scrutiny for alleged links to sanctioned Russian banks and crypto exchange Garantex. The U.S. Treasury sanctioned related entities in August, citing Moldovan oligarch Ilan Shor as connected to A7A5’s issuer, Promsvyazbank (PSB).

Nevertheless, A7A5’s valuation soared past Circle’s euro-pegged EURC, which stands at $252 million, cementing A7A5’s position as the dominant non-dollar stablecoin in circulation.

[EmTeam]

That’s insane growth under pressure. They’re clearly not slowing down.

[jacson4]

Sanctions or not, demand speaks for itself. Impressive momentum.