The A7A5 ruble-backed stablecoin, operating under Kyrgyzstan’s state-sanctioned crypto framework, has passed its first independent audit. Kreston Bishkek, part of Kreston Global’s global auditing network, confirmed that A7A5’s entire supply is fully backed by fiat held in Russian rubles.

Unlike major players such as Tether, A7A5 emphasizes regulatory transparency with quarterly audits and state-supervised issuance. Tokens are minted only after verified ruble deposits, and supply adjusts dynamically with real-time reserves.

Issued by Old Vector, the stablecoin launched in early 2025 and offers a unique yield component. Interest from bank-held reserves—accrued at Russia’s central bank rate—is partially distributed to holders daily. There’s no need for staking or user intervention, making it a passive income product. The rest of the interest supports project operations and growth.

A7A5 trades on Kyrgyzstan’s Meer Exchange with plans to expand to decentralized platforms. With over $140 million in circulation, the stablecoin is already seeing strong demand in post-Soviet markets. Its compliance with KYC/AML protocols and its integration with ruble-banking infrastructure make it a regulated, reliable option amid rising demand for non-USD stable assets.

The Kyrgyz government has supported crypto since 2022 and is working with global partners, including Binance, to boost local blockchain infrastructure. With Russia exploring crypto for cross-border settlements, A7A5 could eventually serve institutional and retail use cases across Eurasia.

Looking ahead, A7A5 will maintain weekly reserve disclosures and quarterly audits. As the non-dollar stablecoin space heats up—particularly among BRICS economies—A7A5’s early regulatory advantage and passive yield model could set it apart.