Sanctioned Russian Stablecoin Spotted on International Exchanges

A Russian stablecoin called A7A5 has been found on international cryptocurrency exchanges Binance and LCX, despite being subject to sanctions. The token is pegged to the ruble and is used to circumvent sanctions and make payments related to the Russian shadow fleet.

The total volume of transactions with A7A5 is estimated at over $100 billion. Despite US and EU sanctions, pages with instructions on how to buy and exchange it have appeared on Binance and LCX websites.

Binance published instructions on how to buy Wrapped A7A5 (WA7A5) via Binance Wallet, even though the token itself was not available on the exchange. The material advised users to purchase another stablecoin and exchange it for WA7A5 via a decentralized exchange.

On LCX, the instructions were more detailed, stating that A7A5 could be purchased directly by creating an account, going through identity verification, making a deposit in euros or cryptocurrency, and purchasing A75A.