Sanctioned Ruble Stablecoin Issuer A7A5 Accelerates Expansion, Claims Full Compliance

Odaily News Oleg Ogienko, head of regulatory and overseas affairs for ruble-pegged stablecoin issuer A7A5, stated that the company fully complies with local Kyrgyzstan regulations and international anti-money laundering standards in its operations, denying any illegal activities. Despite its issuing entity and reserve bank being listed on the U.S. Treasury's sanctions list, the company is still pushing forward with business expansion, aiming to become a key settlement channel for cross-border trade.

A7A5 stated that its stablecoin primarily serves businesses in Asia, Africa, and South America engaged in trade with Russia, providing cross-border payment solutions where some traditional financial channels are restricted. Ogienko claimed the company has established KYC and AML mechanisms and undergoes regular audits.

Data shows that A7A5's circulation volume grew by approximately $900 billion last year, a growth rate exceeding that of USDT and USDC. Industry analysis suggests that the demand for alternative settlement methods formed under the sanctions environment is a significant reason for its rapid growth. At the same time, due to the related entities being subject to U.S. sanctions, its business still faces high compliance and geopolitical risks.