Ruble-Backed A7A5 Stablecoin Captures 43% Share of Non–US Dollar Stablecoin Market, CertiK Reports

CertiK reports that the ruble-backed A7A5 stablecoin has surpassed $110 billion in total on-chain transaction volume, reflecting sustained growth in usage despite ongoing Western sanctions.

In addition, the firm notes that A7A5 now accounts for roughly 43% of the global non–US dollar stablecoin market. Over the same period, user participation has also expanded significantly, with wallet holders nearly doubling from about 13,000 in February 2025 to around 29,000 by May 2026.

CertiK further links the token’s activity to Russian cross-border settlement networks, describing its role within broader international payment channels.

At the regulatory level, pressure has intensified as the European Union added A7A5 to its 19th sanctions package on October 23, 2025, with transaction restrictions coming into effect on November 12.

Source: CertiK