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The A7A5, the new Russian Stablecoin supported rubles, reportedly appeared as the main transaction tool for Grinex, a cryptocurrency, which was widely considered to be a successor to the Russian sanctioned Gurantex platform.
After Stablecoin’s start in Kyrgyzstan in February, the A7A5 (A7A5) worth at least $ 9.3 billion (A7A5) moved via Grinex, The Financial Times reported Wednesday.
Although Grinex has repeatedly refused links to Gurantex, the stock exchange was reportedly credited with the balances of the users of the sanctioned guarantex that It was hit by a freezing of $ 27 million. in March.
“Guarantex users with excellent balances at the time they were closed could attribute these balances to new accounts set up on Grinex,” said Elliptical founder Tom Robinson FT.
Overview A7A5: 24,000 holders and market limit of $ 156 million
Since the launch of about four months ago, the A7A5 gathered around 24,000 holders, according to onchain from Etherscan and Tonscan.
According to The A7A5 has a market capitalization of $ 151 million with approximately $ 12 million to the COINGECKO data and is listed only on the decentralized stock exchange (DEX) Uniswap.
In addition to the Russian national currency, the A7A5 is also traded against Stablecoins such as Tether’s USDT (USDT), as well as real US dollars, according to to Grinex’s telegram.
The A7A5 claims to be supported by 1: 1 using ruble deposits held in Promsvyzbank, the Moscow institution sanctioned by the United States, the United Kingdom and the European Union due to its role in the Russian defense sector.
Only 124 wallets for A7A5 transmission of $ 9.3 billion
According to FT transaction A7A5 of $ 9.3 billion with Grinex came from only 124 wallets.
“The actual value of transactions represented by these tokens is unclear: a large part of the flows monitors strict fixed formulas that indicate that they can be used as part of the internal banking process,” FT said.
Elliptical analysts added that the token is probably used by a limited number of actors or services at present.
Gurantex closing the opportunity for Grinex?
While previous messages also Suspect Grinex on a direct successor Grinex denies such accusations of the problem guarantex.
“Grinex earned on market occasions after the Guarantex closed in his growth strategy,” Grinex said. The platform still “acquired part of the non -toxic customer base of blocked GARANTEX exchange and pledged only to users with a transparent history,” added the representative.
Related: Global Ledger detects $ 15 million that flows asset guarantex, despite the freezing of Tether
The alleged relationship of Grinex-Garantex is not the only speculation involving exchange and A7A5.
According to To the information resistance center (CIR), the A7A5 can be associated with Ilan Shore, a Moldovan political character and an entrepreneur who is the subject of sanctions and was convicted fraud in Moldova.
Although the A7A5 said that in May it reduced links with the A7 project related to SHOR, in June, the Moldovan tycoon appeared in the panel at the St. Petersburg International Economic Forum and promoted A7A5 Stablecoin.
Cointlegraph addressed A7A5 and Grinex to express, but did not receive the answer by the time of publication.
