Sanctioned Ruble Stablecoin A7A5 Becomes Largest Non‑Dollar Token After $6 Billion Shift to New Wallet

Russia has recognized the ruble‑linked token as a digital asset to help operators sustain flows despite Western sanctions.

Overview

A7A5’s market value neared $500 million after a late‑September surge, lifting it past Circle’s EURC to lead non‑dollar stablecoins with roughly 40–43% share.
Blockchain tracing shows administrators destroyed and re‑minted over 80% of tokens and funneled about $6.1 billion through a replacement wallet labeled TNpJj following U.S. sanctions.
Moscow granted the token formal digital‑asset status, enabling exporters and importers to use it on Promsvyazbank’s platform; the state lender is presented as the ruble reserve backer and shares deposit interest with holders.
Conference organizers for Token2049 removed references to A7A5 after scrutiny, while activity data points to business‑hour settlement patterns and growing corridors in China, Nigeria and Zimbabwe.
U.S., UK and EU sanctions remain in force, the EU is weighing additional curbs on engagement with the token, and Russia’s central bank plans a nationwide crypto audit in early 2026 with new monthly reporting requirements.