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Russian crypto payment system expands into Africa

Source: ft.com

TL;DR

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.
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.
Local crypto contacts in Nigeria and Zimbabwe report no awareness of A7, suggesting limited penetration so far.

The story at a glance

Russia'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)

Key points

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)
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)
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)
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)
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)

Details and context

A7 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)

African 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)

Sanctions 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)

Key quotes

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)

Why it matters

Russia's push deepens a parallel global finance web, eroding sanctions on its war economy by enabling billions in unrestrained trade.

Businesses, investors, and African partners face heightened compliance risks from dealing with sanctioned A7-linked crypto flows.

Watch 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)