Russian fintech company A7 said it launched a global payment service called A7 International, allowing customers to make cross-border transactions using cryptocurrency, according to an announcement published Tuesday [1]. The service permits customers to pay with USDT, a stablecoin pegged to the U.S. dollar, while recipients receive conventional bank transfers through the SWIFT messaging network without handling cryptocurrency directly, the company said [1].
According to the company, payments are available in U.S. dollars, euros, Chinese yuan and UAE dirhams and carry a commission of 0.3%. Pyotr Fradkov, chairman of Russian bank Promsvyazbank, which established A7, said the primary demand among market participants is the ability to transfer money globally quickly and with minimal friction.
A7 Was Established After 2022 SWIFT Sanctions
A7 has continued to build out its international footprint despite escalating restrictions. The company is preparing to expand into Africa, including a planned launch in Togo, while already operating in Nigeria and announcing a presence in Zimbabwe, according to The Bell and Financial Times, as reported by bne IntelliNews [2]. A7 was first launched in late 2024 by Promsvyazbank, described as a Russian state "defense bank" [2].
In January 2025, A7 and PSB announced the launch of a cryptocurrency called A7A5 in Kyrgyzstan. The cryptocurrency is promoted as the world's first stablecoin pegged to the Russian ruble and ostensibly backed by fiat ruble deposits in PSB bank accounts, according to analysis from Info-Research [3]. That analysis indicated at least $149 million had been invested in the token as of May 2025 [3].
The A7 launch comes amid a broader push by Russia to build out regulated cryptocurrency infrastructure as Western sanctions reshape its financial strategy. Russian President Vladimir Putin signed a landmark law in August 2026 legalizing cryptocurrency trading as part of the country's financial system [4]. According to blockchain analytics firm Chainalysis, Russia ranks as Europe's largest crypto market by transaction volume [4]. The Finance Ministry estimates domestic crypto trading at about 50 billion rubles ($650 million) per day [5].
U.S. Adds Sanctions, A7 Rejects Allegations
The measures came as part of a broader U.S. effort to target digital wallets allegedly connected to Tehran. The U.S. Treasury froze $344 million in cryptocurrency tied to Iran, according to Treasury Secretary Scott Bessent [6].
The United Kingdom also unveiled a fresh package of sanctions against Russian financial structures that use crypto and offshore payment routes to sidestep restrictions imposed after the invasion of Ukraine. The measures focused on the Kremlin-backed A7 network, a ruble-based settlement system, and a cluster of exchanges and firms that route payments through Kyrgyzstan and Georgia [7]. The European Union similarly sought to close loopholes in its sanctions regime, pursuing a "ban all cryptocurrency transactions with Russia" as part of a sanctions package [8].
Company Reports Growth in Transactions and Countries
Several other payment providers offer crypto-to-fiat conversion services globally, though the specific model of paying with a stablecoin while recipients receive SWIFT bank transfers without crypto handling may distinguish A7's offering.
Russia has been advancing its broader crypto regulatory framework this year. The State Duma passed its first comprehensive crypto law in August 2026, creating a state-regulated framework for exchanges and investors while opening a state-supervised channel for cross-border trade. Lawmakers cleared bill No. 1194918-8, "On Digital Currency and Digital Rights" [9]. Russia's central bank has said the crypto industry may have all it needs to start legally functioning by year-end, according to deputy governor Vladimir Chistyukhin [10].
Outlook Remains Subject to Sanctions and Local Laws
Sanctions pressure on Russian crypto operations has intensified. The U.S. Treasury's freezing of $344 million in cryptocurrency tied to Iran underscores what independent analysts describe as governments proving that cryptocurrency is not outside the system once they decide to intervene [6]. The EU has moved to close what officials describe as loopholes allowing Russia to use cryptocurrency to circumvent restrictions [8]. The UK has targeted the A7 network directly in its sanctions rounds [7].
Even as A7 expands, the broader Russian crypto market faces regulatory changes at home. Sberbank plans to launch a regulated crypto trading platform and digital asset depository by December 2026 [11]. The latest registrations in early October established a formal list of companies authorized to provide trading and custody services, with Sberbank's planned December launch providing one of the first opportunities for customers to access crypto products through a major Russian bank under the new regulatory structure [12].
References
- Russian firm launches 'world's first' crypto-to-bank payment ... https://www.bignewsnetwork.com/news/279372573/russian-firm-launches-world-first-crypto-to-bank-payment-service
- Russian crypto payment system A7 to expand to Africa. https://www.intellinews.com/russian-crypto-payment-system-a7-to-expand-to-africa-435991/
- A7A5: Circumventing Sanctions with Stablecoin Cryptocurrency. https://www.info-res.org/app/uploads/2025/06/A7A5-Report-June-2025-Final-Draft-1.pdf
- Putin legalizes crypto in Russia: What you need to know. https://rt.com/news/643878-russia-crypto-regulation-law/
- Putin Signs Law Establishing Regulated Cryptocurrency Market in Russia. https://www.naturalnews.com/2026-08-07-putin-signs-law-establishing-regulated-crypto-market.html
- The War on Crypto Was Always About Control. https://www.activistpost.com/the-war-on-crypto-was-always-about-control/
- UK Targets Kremlin-Linked Crypto Network In Latest Sanctions Round. https://www.zerohedge.com/crypto/uk-targets-kremlin-linked-crypto-network-latest-sanctions-round
- EU Seeks To Close Russia Crypto Loopholes In New Sanctions. https://www.zerohedge.com/crypto/eu-seeks-close-russia-crypto-loopholes-new-sanctions
- Russia Passes Landmark Crypto Law, Setting State-Run Rails for Sanctioned Trade. https://www.activistpost.com/russia-passes-landmark-crypto-law-setting-state-run-rails-for-sanctioned-trade/
- Russian Crypto Industry Could Be Operating Legally by Year-End: Central Bank. https://activistpost.com/russian-crypto-industry-could-be-operating-legally-by-year-end-central-bank/
- Russia's Sberbank sets crypto platform launch for December. https://aibc.world/news/sberbank-russia-crypto-trading-platform-2026/
- Russia Approves First Crypto Trading Operators and Custody Firms. https://themarketperiodical.com/2026/10/07/russia-approves-first-crypto-trading-operators-and-custody-firms-details/
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