{"url":"https://www.ft.com/content/a9de2bb5-7bbf-4d04-9424-25d4b9cda2b6","title":"Russian crypto payment system expands into Africa","domain":"ft.com","imageUrl":"https://images.pexels.com/photos/8370332/pexels-photo-8370332.jpeg?auto=compress&cs=tinysrgb&h=650&w=940","pexelsSearchTerm":"Russian crypto office Africa","category":"World","language":"en","slug":"7e12d9af","id":"7e12d9af-ca5f-48c3-8bf8-cd9b99a9d01a","description":"Russia's A7 crypto payment system, backed by sanctioned bank Promsvyazbank, is opening offices in African countries to enable cross-border payments despite","summary":"## TL;DR\n- Russia's A7 crypto payment system, backed by sanctioned bank Promsvyazbank, is opening offices in African countries to enable cross-border payments despite Western sanctions.\n- Videos show an A7 office in Nigeria, a claimed branch in Zimbabwe, and a recent job ad seeks a project manager to start operations from scratch in Togo.\n- Local crypto contacts in Nigeria and Zimbabwe report no awareness of A7, suggesting limited penetration so far.\n\n## The story at a glance\nRussia's A7, a fintech firm part-owned by state-owned defence bank Promsvyazbank, is expanding its cryptocurrency-based payment network into Africa to help Russian businesses bypass sanctions on traditional finance. Videos confirm an office in Nigeria, with claims of a new branch in Zimbabwe; a job posting on a Russian site seeks a project manager for Togo. The article, reported now amid growing Western scrutiny of Russian crypto evasion, follows A7's prior launches of ruble-pegged stablecoin A7A5, which has handled tens of billions in transactions.[[1]](https://www.ft.com/content/a9de2bb5-7bbf-4d04-9424-25d4b9cda2b6)[[2]](https://www.ft.com/content/a9de2bb5-7bbf-4d04-9424-25d4b9cda2b6?syn-25a6b1a6=1)\n\n## Key points\n- A7, launched in late 2024 with Kremlin support, uses its A7A5 ruble-backed stablecoin (issued in Kyrgyzstan, backed by Promsvyazbank deposits) for cross-border settlements, mainly with partners in Asia, Africa, and Latin America.[[3]](https://foreignpolicy.com/2026/03/31/russia-sanctions-evasion-cryptocurrency-a7a5-kyrgyzstan-exports-dual-use-technology)[[4]](https://www.coindesk.com/markets/2026/02/16/we-do-not-do-illegal-things-inside-a-u-s-sanctioned-stablecoin-issuer-s-race-to-build-a-crypto-giant)\n- A7 has processed billions in flows—$100bn+ linked to its network—despite US, UK, and EU sanctions on A7, A7A5 issuer Old Vector, and related exchanges like Garantex/Grinex.[[5]](https://www.stridentcitizen.com/p/russia-a7a5-shadow-bank-ruble-stablecoin-sanctions-evasion)[[6]](https://www.chainalysis.com/blog/a7a5-grinex-russian-crypto-economy-ofac-sanctions-august-2025)\n- Expansion includes offices in Moscow, Vladivostok, Lagos (Nigeria), Harare (Zimbabwe); Putin attended a virtual opening for Vladivostok.[[5]](https://www.stridentcitizen.com/p/russia-a7a5-shadow-bank-ruble-stablecoin-sanctions-evasion)\n- A vacancy on HeadHunter.ru (Russian site) calls for a project manager to build A7's Togo business \"from scratch\"; several African crypto figures told FT they had not heard of A7 locally.[[1]](https://www.ft.com/content/a9de2bb5-7bbf-4d04-9424-25d4b9cda2b6)\n- A7 ties to fugitive Moldovan oligarch Ilan Shor (sanctioned, wanted for fraud); Foreign Minister Lavrov called it Russia's \"first international financial platform\".[[2]](https://www.ft.com/content/a9de2bb5-7bbf-4d04-9424-25d4b9cda2b6?syn-25a6b1a6=1)\n\n## Details and context\nA7 emerged post-Ukraine invasion as a sanctions workaround, filling gaps left by SWIFT exclusions. Its stablecoin A7A5, on Ethereum/Tron, offers daily yields from high Russian rates (21%+), drawing traders; 78% of early transactions routed via China.[[7]](https://www.tradingview.com/news/cointelegraph:6f3016ef1094b:0-sanctioned-a7a5-becomes-largest-non-us-dollar-stablecoin-data) Volumes hit $72bn+ in 2025, per TRM Labs, mostly state-aligned evasion rather than retail use.[[8]](https://www.trmlabs.com/reports-and-whitepapers/2026-crypto-crime-report)\n\nAfrican push targets trade partners avoiding USD; openings drew local finance ministers and Russian envoys, hinting official welcome. Yet low local awareness raises questions on real footprint versus PR.[[1]](https://www.ft.com/content/a9de2bb5-7bbf-4d04-9424-25d4b9cda2b6)\n\nSanctions hit hard—US targeted A7/A7A5 in 2025, EU eyes full Russian crypto ban—but A7 adapts via shells and new routes, echoing Russia's parallel finance buildout (e.g., SPFS, BRICS Pay).[[9]](https://www.kyivpost.com/post/69802)\n\n## Key quotes\n- Russian Foreign Minister Sergey Lavrov: A7 is Russia’s “first international financial platform”.[[2]](https://www.ft.com/content/a9de2bb5-7bbf-4d04-9424-25d4b9cda2b6?syn-25a6b1a6=1)\n\n## Why it matters\nRussia's push deepens a parallel global finance web, eroding sanctions on its war economy by enabling billions in unrestrained trade.  \nBusinesses, investors, and African partners face heightened compliance risks from dealing with sanctioned A7-linked crypto flows.  \nWatch A7's African traction, further Western sanctions (e.g., EU crypto ban), and A7A5 volumes, though evasion tactics may limit impact.[[1]](https://www.ft.com/content/a9de2bb5-7bbf-4d04-9424-25d4b9cda2b6)","hashtags":["#russia","#sanctions","#crypto","#africa","#fintech","#payments"],"sources":[{"url":"https://www.ft.com/content/a9de2bb5-7bbf-4d04-9424-25d4b9cda2b6","title":"Original article"},{"url":"https://www.ft.com/content/a9de2bb5-7bbf-4d04-9424-25d4b9cda2b6?syn-25a6b1a6=1","title":""},{"url":"https://foreignpolicy.com/2026/03/31/russia-sanctions-evasion-cryptocurrency-a7a5-kyrgyzstan-exports-dual-use-technology","title":""},{"url":"https://www.coindesk.com/markets/2026/02/16/we-do-not-do-illegal-things-inside-a-u-s-sanctioned-stablecoin-issuer-s-race-to-build-a-crypto-giant","title":""},{"url":"https://www.stridentcitizen.com/p/russia-a7a5-shadow-bank-ruble-stablecoin-sanctions-evasion","title":""},{"url":"https://www.chainalysis.com/blog/a7a5-grinex-russian-crypto-economy-ofac-sanctions-august-2025","title":""},{"url":"https://www.tradingview.com/news/cointelegraph:6f3016ef1094b:0-sanctioned-a7a5-becomes-largest-non-us-dollar-stablecoin-data","title":""},{"url":"https://www.trmlabs.com/reports-and-whitepapers/2026-crypto-crime-report","title":""},{"url":"https://www.kyivpost.com/post/69802","title":""}],"viewCount":4,"publishedAt":"2026-04-06T11:03:53.031Z"}