Grinex Responds to Financial Times Investigation on A7A5 Ruble Stablecoin

Representatives of the cryptocurrency exchange Grinex have responded to a Financial Times investigation regarding the circumvention of sanctions using the A7A5 ruble stablecoin. According to the publication, approximately $9.3 billion in A7A5 tokens passed through the platform over four months.

In comments to ForkLog, the Kyrgyz crypto platform stated that transactions from CIS countries are automatically deemed “toxic” by AML services, even though the ruble remains a key currency for the economies of the entire region, not just Russia.

“Grinex sees this as unfair competition, where major players use biased AML services to lure clients from CIS countries to other exchanges. Meanwhile, the real needs of businesses and individuals not connected to sanctioned products or regimes are ignored,” commented representatives of the platform.

Listing stablecoins is part of Grinex’s strategy, the company emphasized. The choice of A7A5 was explained as being a “safe and transparent tool with a clear legal basis.”

Grinex noted that user interest in A7A5 and its liquidity are continuously growing amid increasing blocks by Tether. However, listing the token does not imply affiliation or the establishment of a sanctions circumvention system.

“We categorically condemn any forms of illegal activity, including sanctions evasion and money laundering. Our platform is not such a tool. All suspicious operations are automatically blocked. Grinex strictly adheres to international AML/KYC standards, checking all clients against sanction lists,” assured representatives of the crypto platform.

They emphasized that allegations of violations remain unsubstantiated, as the platform has not received official requests from international law enforcement agencies. According to them, Grinex has established a special unit for working with foreign entities, which is open to cooperation.

Grinex began operations in the Russian and CIS markets in March 2025. The platform’s activities are licensed in the Kyrgyz Republic.