Kyrgyzstan-based ruble stablecoin A7A5 has successfully cleared a full audit, confirming 100% fiat backing. The review, conducted by Kreston Bishkek, affirms that all circulating tokens are matched by ruble reserves. This move sets a transparency benchmark, especially in comparison to Tether, which has yet to undergo a similar independent review.
Issued by Old Vector and backed by Kyrgyz regulators, A7A5 combines traditional reserve stability with yield generation. Its fiat reserves earn interest at the Russian Central Bank’s rate, and half of that yield is distributed daily to token holders without requiring any user action. Reserves are held in ruble-friendly banks that maintain ties with Kyrgyz financial institutions.
Launched on Meer Exchange in April, A7A5 supports trading pairs like USDT and plans expansion into decentralized exchanges such as Uniswap. This would open doors for DeFi integrations including lending, collateralization, and synthetic ruble assets. Its yield mechanism also makes it attractive for carry trade strategies.
With a supply already topping $140 million, demand appears strong among Russian and CIS region users seeking a ruble-pegged alternative to dollar-based stablecoins—especially after recent wallet freezes on platforms like USDT.
Kyrgyzstan’s regulatory leadership and strong ties with Russia create an ideal environment for A7A5’s expansion. If integrated into Russia’s cross-border crypto pilot programs, A7A5 could evolve into a preferred stable asset for regional and international ruble transactions.
Weekly reserve reports and ongoing audits will be crucial as A7A5 scales. Its success could pave the way for other non-USD stablecoins in emerging markets.
