Russia’s A7 Takes Crypto-to-Bank Service Global
By Karthik Subramanian
AI summary of the source article
Russian fintech A7 launched A7 International on Oct. 13, allowing global clients to pay foreign invoices in USDT stablecoins and deliver payouts into recipients' bank accounts in multiple fiat currencies.
Why it matters
President Vladimir Putin urged African nations to build alternative settlement systems, saying "reliance on Western finance limits their sovereignty" and that A7's "modern technology makes such payments impossible to block."
Key facts
- A7 International charges a flat 0.3% fee and executes bank transfers, including via SWIFT, within one business day.
- Customers transfer USDT over the Tron blockchain, and recipients receive conventional bank deposits without needing a crypto wallet.
- Russian First Deputy Prime Minister Denis Manturov was appointed chairman of A7's supervisory board on Oct. 15 alongside other senior officials.
Source excerpt · FinanceFeeds
Russian fintech company A7 is now offering businesses and individuals worldwide a way to pay foreign invoices in USDT stablecoin and have the money arrive in the recipient’s bank account. The service, A7 International, went live on Oct. 13 and pays out in US dollars, euros, Chinese yuan and UAE dirhams, with other currencies available by arrangement, the company said. It charges a flat 0.3% fee, a…