TechFlow news, on June 25, according to Cointelegraph, A7A5, a Russian ruble-backed stablecoin, has completed approximately $9.3 billion in transactions via the Grinex platform since its launch in Kyrgyzstan in February this year, with a market capitalization reaching $151 million. A7A5 claims to be fully backed 1:1 by Moscow's Promsvyazbank, a sanctioned bank. Although Grinex denies any direct connection with the sanctioned exchange Garantex, analysis suggests there may be an operational succession relationship between the two.
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