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.
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