Over the past four months, Grinex, created in Kyrgyzstan, has been more than $ 9.3 billion in the Rublest Stabelcoins A7A5, reporters of the Financial Times said.

The rapid growth of transactions in Rublest Steabelcoins A7A5 may indicate that Russian companies and investors, including those under sanctions, managed to find an effective tool for bypassing restrictions through cross -border calculations using a digital asset on the Grinex Kyrgyz Exchange, the newspaper said.

FT experts referred to a statement by the head of the A7A5 project Leonid Schumakov, who said that stablecoin was created for safe transactions in the conditions of sanctions pressure and focused on Russian importers, providing them with a bridge to convert funds to USDT on Tron’s blockchains or Ethereum.

Now about 12 billion A7A5 stablcoons are in circulation, the newspaper writes.

The specialist of the non -profit research organization Center for Information Sustainability (CIR) Alice Thomas stated that the popularity of the A7A5 is associated with a global tendency to strengthen the role of cryptocurrencies when going around sanctions, and “Russian businessmen have long discussed the use of stablecoins for large cross -border calculations”.

The success of the A7A5 is demonstrated by a fairly high potential of local stablecoins that can be an alternative to popular dollar USDT or USDC stabilcoins in the context of tightening sanctions control, the expert concluded.

Earlier, the Grinex Cryptian Administration said that it entered into an agreement with the management of the largest Russian site GaratEx, which fell under international sanctions and actually blocked by decision of the American authorities. The agreement provided for an increase in the Grinex client base at the expense of GaratEx customers.