Report: Russian ruble stablecoin A7A5 accounts for about 43% of the global non-dollar stablecoin market

▤ Summary

CertiK’s new stablecoin threat report says the ecosystem faces both technical security and compliance pressure. The report highlights more than $328 million in losses from cross-chain bridge incidents in 2026, showing that bridges, custody systems, and payment infrastructure remain prime targets. It also says the Russian ruble stablecoin A7A5 has reached more than $110 billion in cumulative volume since launch and now accounts for about 43% of the non-dollar stablecoin market. The report argues that A7A5 illustrates a new model for cross-border settlement networks and has become a major focus for regulators. It concludes that stablecoin risk now spans smart contracts, financial infrastructure, and geopolitics.

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