The ruble-backed stablecoin, A7A5, has successfully undergone an independent audit verifying 100% fiat backing for its circulating supply by Kreston Bishkek.
A7A5 promises transparency through quarterly audits and a state-supervised model unlike Tether, which is yet to undergo a financial audit.
The A7A5 stablecoin can generate yield for holders by leveraging Russia’s high interest rates and pays daily yield without staking requirements.
Within a week of its launch on Meer Exchange, A7A5's circulating supply crossed $140 million, showing strong demand primarily from Russia and CIS nations.