Kyrgyz Stablecoin A7A5 Surges with $9.3 Billion in Four Months

In Kyrgyzstan, a stablecoin named A7A5, pegged to the Russian ruble, was launched in February. In just four months, it has processed $9.3 billion, according to the Financial Times. The A7A5 token was introduced by A7, a company associated with Moldovan businessman Shor and Russian Promsvyazbank. The stablecoin is backed by ruble deposits specifically in Promsvyazbank. The total circulating supply consists of 12 billion tokens, valued at approximately $156 million.