Is A7A5 (A7A5) Halal or Haram?
SUMMARY
A7A5 is a fiat-backed stablecoin that operates an interest-bearing business model. It is deemed non-compliant because its core utility and value proposition involve automatically distributing conventional bank interest to all token holders, and its primary business activity is rooted in generating this interest.
Verdict by Activity
How you can hold and use A7A5
Buy & Hold
The token's primary utility and business activity involve operating an interest-bearing stablecoin that distributes conventional bank interest directly to holders.
Automatic Interest Rebase
Holders automatically receive a daily yield derived from overnight interest rates on the underlying fiat bank deposits.
Shariah Component Breakdown
Shariah Analysis
Infrastructure — where it runs
PassedThe token operates on Ethereum and Tron, which are neutral, general-purpose networks.
Application — what it does
FailedThe project operates an interest-bearing stablecoin business, generating revenue from conventional bank interest on fiat deposits and passing it to holders.
Asset — what you own
FailedThe token's primary utility and value proposition is to distribute conventional bank interest to holders via an automatic daily rebase mechanism.
Property Status (Māl)
CautionThe token has ascertainable supply and genuine use, but the issuer retains discretionary centralized minting authority. As a fiat stablecoin, the holder owns a redemption claim against the issuer (Old Vector LLC) rather than a native protocol position, meaning its value depends entirely on the issuer's ability and willingness to honor it.
Revenue Purity
FailedOver 33% of the protocol's revenue is derived from interest income on fiat ruble deposits, which directly funds the token's value and holder distributions.
Legitimacy & Security
project audits
CautionThe documentation claims quarterly external audits, but no completed audit by a named independent auditor is provided in the research.
whitepaper
PassedThe project provides official documentation and tokenomics detailing its reserve and rebase mechanics.
social presence
CautionStandard social presence metrics are not covered by the research, though the token is heavily cited in sanctions and illicit finance reports.
Team & Ecosystem
team background
FailedThe token issuer (Old Vector LLC) and key figures (Ilan Shor) have been heavily sanctioned by the US Treasury (OFAC), the UK, and the EU for facilitating illicit finance and cybercrime.
Detailed Shariah Report
Overview
A7A5 is a fiat-backed, ruble-pegged stablecoin designed to facilitate cross-border payments and serve as a medium of exchange. Legally, holding the token represents a redemption claim against its issuer, Old Vector LLC, rather than a native protocol position. The token's core mechanism involves generating yield from overnight interest rates on fiat ruble deposits held in traditional banks and automatically distributing this interest to token holders.
Why This Verdict
The Shariah compliance of a crypto asset is evaluated across three layers: the underlying infrastructure, the application's business activity, and the asset's qualification as recognized property (Mal). A7A5 operates on Ethereum and Tron, which pass the infrastructure screen as neutral, general-purpose networks. As an asset, the token qualifies as recognized property because it presently exists on-chain, has an ascertainable supply, carries a lawful use as a medium of exchange, and is transferable. However, A7A5 fails the application layer, rendering the asset Haram. Regarding holding the asset: Simply buying and holding A7A5 is Haram. The token's primary utility and the project's core business activity revolve around operating an interest-bearing stablecoin. Over 33 percent of the protocol's revenue comes from conventional bank interest on fiat deposits, which directly funds the token's value. Regarding the Automatic Interest Rebase mechanism: This feature is Haram and is not opt-in. The token utilizes a mandatory daily rebase mechanism that automatically distributes conventional bank interest directly to all holders, increasing their wallet balances. Because this interest distribution is automatic and inescapable, holding the token inherently involves participating in and benefiting from Riba (usury).
Permissible Aspects
- The underlying infrastructure networks (Ethereum and Tron) are neutral, general-purpose blockchains.
- The token functions as a medium of exchange and store of value for cross-border settlements.
- The asset qualifies as recognized property (Mal) as it is ascertainable, transferable, and held in self-custody without a freeze function.
Points of Caution
- !The token represents a redemption claim against the issuer (Old Vector LLC), meaning its value depends entirely on the issuer's ability and willingness to honor it, rather than being a trustless native asset.
- !The issuer retains discretionary, centralized minting authority over the token supply.
- !The token issuer and key figures have been heavily sanctioned by the US Treasury (OFAC), the UK, and the EU for facilitating illicit finance and cybercrime.
- !Users can wrap their tokens (wA7A5) to stop the automatic rebase, but this merely accumulates the interest within the wrapper contract rather than avoiding it.
Purification Note
Not applicable. Because the core business model and primary utility of the token are fundamentally based on generating and distributing conventional bank interest (Riba), the asset is entirely non-compliant. Purification is meant for incidental impure income in otherwise permissible investments, not for assets where the primary function is prohibited.
BOTTOM LINE
A7A5 is a non-compliant (Haram) asset because it functions as an interest-bearing stablecoin that automatically distributes conventional bank interest to all token holders. While it operates on neutral blockchain infrastructure, its core business model relies entirely on generating usurious yield (Riba) from fiat deposits, making it impermissible to hold. As always, final religious authority rests with a qualified Shariah scholar.
How this verdict was reached
This is not an opinion issued by ShariaQuant. It is the output of a documented screening methodology applied to researched facts about A7A5 (A7A5), and every row above states the specific evidence that drove it — so the reasoning can be examined rather than taken on trust.
The framework screens three layers — the infrastructure an asset runs on, the application it serves, and the asset itself — and separately tests whether the token qualifies as recognised property (māl): that it presently exists, has an ascertainable supply, can be held and transferred, and carries a genuine lawful use. A failure at any single layer fails the asset.
Revenue-purity thresholds follow the AAOIFI screening standard: non-compliant income below 5% of revenue is tolerated and purified, while 5% or above fails the screen.
The framework follows published scholarship rather than in-house opinion. Treating a digital asset as a right (ḥaqq) that becomes recognised property (māl) only on stated conditions follows “Is Crypto Halal? The Definitive Shariah Guide to Crypto and Digital Assets” by Mufti Faraz Adam (Amanah Advisors, 2026), which reproduces the conditions identified by Mufti Taqi Usmani. Financial thresholds follow the AAOIFI screening standard. The rulings we track are collected in the fatwa library.
AAOIFI has not reviewed, approved or endorsed this report or ShariaQuant, and no scholar named in our methodology has reviewed this individual verdict. This is analysis, not a fatwa — final religious authority rests with a qualified scholar.
Is A7A5 a serious project?
Permissible is not the same as good. This is the research behind that second question — what A7A5 is actually for, who is paying for it, what is already built, and what would have to go wrong.
Research on the project, not advice on the trade. A high fundamental score is not a recommendation to buy, and it says nothing about whether the asset is permissible — that is the Shariah verdict, and it is free.
How A7A5 ranks against its peers
The Shariah verdict tells you whether you may own A7A5. This tells you what you would be holding — measured from market data, with no AI judgment in it, and compared only against assets of the same kind.
A ranking of how solid an asset is against its peers, not a forecast of what it will do next and not investment advice. A permissible asset can rank badly, and a badly ranked asset can still rise.
About A7A5
A7A5 is a fiat-backed stablecoin that operates an interest-bearing business model. It is deemed non-compliant because its core utility and value proposition involve automatically distributing conventional bank interest to all token holders, and its primary business activity is rooted in generating this interest.
Asked alongside this
Short answers from the ShariaQuant team.
So what do you hold instead?
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