{"id":33864,"date":"2025-06-26T14:02:16","date_gmt":"2025-06-26T14:02:16","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=33864"},"modified":"2025-06-26T14:02:16","modified_gmt":"2025-06-26T14:02:16","slug":"ruble-backed-a7a5-stablecoin-sees-9-4b-volume-on-grinex-garantexs-successor","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=33864","title":{"rendered":"Ruble-Backed A7A5 Stablecoin Sees $9.4B Volume on Grinex, Garantex\u2019s Successor"},"content":{"rendered":"<div>\n<p>Sanctioned cryptocurrency exchange Garantex\u2019s alleged successor, Grinex, has processed over $9.3 billion of the Ruble-backed stablecoin A7A5. Speculations are rife about the nature of the token\u2019s usage since the bulk of the transactions originated from only 124 wallets, as per a <a class=\"general-link\" href=\"https:\/\/www.ft.com\/content\/1c71cac0-b86b-4361-8f54-ee5d3bb5a489\" target=\"_blank\" rel=\"noopener nofollow\">report <\/a>by the Financial Times on 25 June 2025.<\/p>\n<p>Currently, users can only find the A7A5 stablecoin listed on Uniswap. It boasts a market cap of $151 million, with about 12 million tokens in circulation. According to Grinex\u2019s <a class=\"general-link\" href=\"https:\/\/t.me\/grinex_official\/35\" target=\"_blank\" rel=\"noopener nofollow\">telegram channel<\/a>, traders can use the Ruble-backed stablecoin to trade against the Russian Ruble and also against the USDT and the US dollar.<\/p>\n<p>Elliptic analysts, cited by the Financial Times, suggest that rigid transfer patterns indicate internal fund movement rather than organic token adoption. Furthermore, the crypto-focused anti-money laundering (AML) compliance and blockchain analytics platform, Global Ledger, had <a class=\"general-link\" href=\"https:\/\/globalledger.io\/shared-files\/2037\/?One_more_Garantex\" target=\"_blank\" rel=\"noopener nofollow\">suggested <\/a>in March that Garantex had moved its liquidity and customer funds to Grinex.<\/p>\n<p>These findings further cement the <a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/guides\/despite-sanctions-and-arrests-russias-garantex-remerges-as-grinex\/\" rel=\"\">likelihood <\/a>of Grinex having absorbed some of Garantex\u2019s clientele, although Grinex denies any direct links to the sanctioned crypto exchange.<\/p>\n<p>Elliptic\u2018s co-founder, Tom Robinson, said, \u201cGarantex users with outstanding balances at the time it was shut down could have these balances credited to new accounts set up on Grinex.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">BREAKING: A new Russian stablecoin, A7A5, has quietly moved $9.3bn through a Kyrgyz crypto exchange in just four months, a Financial Times investigation reveals. The token is linked to a sanctioned Russian defence bank and fugitive Moldovan oligarch Ilan \u0218or, and is believed to\u2026<\/p>\n<p>\u2014 GeoInsider (@InsiderGeo) <a href=\"https:\/\/twitter.com\/InsiderGeo\/status\/1937898164062662878?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">June 25, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>\u00a0<\/p>\n<p>According to on-chain data from <a class=\"general-link\" href=\"https:\/\/etherscan.io\/token\/0x6fA0BE17e4beA2fCfA22ef89BF8ac9aab0AB0fc9\" target=\"_blank\" rel=\"noopener nofollow\">Etherscan <\/a>and <a class=\"general-link\" href=\"https:\/\/tronscan.org\/#\/token20\/TLeVfrdym8RoJreJ23dAGyfJDygRtiWKBZ\" target=\"_blank\" rel=\"noopener nofollow\">Tronscan<\/a>, the A7A5, since its launch a few months ago, has managed to gather around 24000 users. Promsvyazbank, a Moscow-based bank under sanctions for its role in financing the Russian military, backs the A7A5 stablecoin 1:1 with Ruble reserves.<\/p>\n<p>The Ruble-backed stablecoin\u2019s circulating supply <a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/news\/ruble-backed-stablecoin-a7a5-passes-audit-with-100-fiat-backing\/\" rel=\"\">surpassed <\/a>$140 million within a week of its launch, indicating a strong demand for the stablecoin from crypto users in Russia and the Commonwealth of Independent States (CIS).<\/p>\n<p><strong>Explore<\/strong>:\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/best-meme-coin-icos\/\" rel=\"\">Best Meme Coin ICOs to Invest in June 2025<\/a><\/p>\n<h2><strong>A7A5 S<\/strong><strong>tablecoin Linked To Ilan Shor \u2013 Sanctioned Moldovan Businessman<\/strong><\/h2>\n<p>Analysts, however, remain sceptical of the Ruble-backed stablecoin\u2019s broader adoption because of the token\u2019s clustered activity and unclear fund origins.<\/p>\n<p>Additionally, the Centre for Information Resilience had <a class=\"general-link\" href=\"https:\/\/www.info-res.org\/reports\/a7a5-circumventing-sanctions-with-stablecoin-cryptocurrency\/\" target=\"_blank\" rel=\"noopener nofollow\">unveiled <\/a>linkages of the A7A5 stablecoin to Ilan Shor, a sanctioned Moldovan businessman, convicted of fraud. He was promoting the stablecoin at Russia\u2019s St Petersburg International Economic Forum earlier this month.<\/p>\n<p>A7A5, however, has claimed to sever ties with Shor in May.<\/p>\n<p>Grinex has highlighted its aim to bring in more USDT alternatives rather than create vehicles to circumvent sanctions.<\/p>\n<p><strong>Explore<\/strong>:\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/best-crypto-to-buy\/\" rel=\"\">Top 20 Crypto to Buy in June 2025<\/a><\/p>\n<p>Their spokesperson was quoted by another <a class=\"general-link\" href=\"https:\/\/cointelegraph.com\/news\/russian-ruble-stablecoin-a7a5-grinex-link-garantex-ft\" target=\"_blank\" rel=\"noopener nofollow\">publication <\/a>stating, \u201cWe strongly condemn any form of illegal activity, including sanctions evasion, money laundering, etc. All suspicious transactions are automatically blocked.\u201d<\/p>\n<p>On 7 March 2025, the US Department of Justice (DoJ) <a class=\"general-link\" href=\"https:\/\/www.justice.gov\/opa\/pr\/garantex-cryptocurrency-exchange-disrupted-international-operation\" target=\"_blank\" rel=\"noopener nofollow\">announced <\/a>the disruption of Grarantex in coordination with authorities in Germany and Finland. In their joint operation, authorities seized Garantex\u2019s domains in Germany and Finland.<\/p>\n<p>Prosecutors pressed <a class=\"general-link\" href=\"https:\/\/www.justice.gov\/opa\/media\/1392316\/dl\" target=\"_blank\" rel=\"noopener nofollow\">criminal charges<\/a> against Garantex\u2019s administrators, Aleksej Besciokov and Aleksandr Mira Serda, who oversaw the laundering operations, and authorities froze over $26 million of illegal funds.<\/p>\n<p><strong>Explore<\/strong>:\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/new-cryptocurrency\/\" rel=\"\">Best New Cryptocurrencies to Invest in 2025<\/a><\/p>\n<div class=\"nnbtc-key-takeaways\">\n<h2 class=\"nnbtc-key-takeaways__title\">Key Takeaways<\/h2>\n<ul class=\"nnbtc-key-takeaways__list\">\n<li class=\"nnbtc-key-takeaways__list-item\">\n        Grinex, the controversial crypto exchange, has processed over $9.3 billion of the Ruble-backed stablecoin A7A5    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        The A7A5 stablecoin has a market cap of $151 million, with about 12 million tokens in circulation    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        The Ruble-backed stablecoin\u2019s circulating supply surpassed $140 million within a week of its launch    <\/li>\n<\/ul><\/div>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/grinex-garantexs-successor-processes-over-9-4b-in-a7a5-ruble-backed-stablecoin\/\">Ruble-Backed A7A5 Stablecoin Sees $9.4B Volume on Grinex, Garantex\u2019s Successor<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Sanctioned cryptocurrency exchange Garantex\u2019s alleged successor, Grinex, has processed over $9.3 billion of the Ruble-backed stablecoin A7A5. Speculations are rife about the nature of the token\u2019s usage since the bulk of the transactions originated from only 124 wallets, as per a report by the Financial Times on 25 June 2025. Currently, users can only find [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-33864","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/33864","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=33864"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/33864\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=33864"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=33864"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=33864"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}