A report from the analytical company Elliptic indicates that the amount of transactions in ruble stablecoins A7A5 (A7A5) reached ₽3,3 trillion.
A7A5, released on January 28, 2025 by the Kyrgyz company Old Vector, has gained great popularity among Russians. This is evidenced by the following factors:
- In July, the level of cryptocurrency capitalization increased more than threefold and amounted to ₽41,17 billion ($516,2 million);
- In the six months since the creation of digital assets, their turnover has increased to ₽3,3 trillion ($41,2 billion), and the daily transaction amount in July reached $1 billion;
- The number of coin owners has exceeded 14,000.
Changing transaction amounts in A7A5
A7A5 has become a popular means of exchange. It is actively used by clients of Grinex and Meer, as well as other exchanges, most often exchanging stablecoins for rubles or Tether (USDT).
Trading volume A7A5
Interest in A7A5 from Russians is also explained by the opportunity to earn passive income from storing coins. The issuer of digital assets distributes 50% of the funds received from banks for deposits in rubles among cryptocurrency owners, ensuring the stability of the virtual currency exchange rate. Tokens are transferred to users’ crypto wallets in Ethereum or TRON (TRX), and in total, ₽319 million have already been transferred to stablecoin holders.
Taking into account the deposit rates, it can be assumed that the yield from storing A7A5 reached 10% per annum, but this figure decreased due to a decrease in the deposit rate caused by the fall of the key rate to 18%.