Sanctioned A7 Network Unveils USDT SWIFT Settlement Service

Russia’s A7 international settlement platform has announced a new payment service that allows customers to settle foreign invoices using Tether’s USDT, with recipients receiving funds through conventional SWIFT bank transfers. According to CryptoNews, the service is named A7 International and charges a fixed 0.3% transaction fee.

Service Structure and Operations

The platform primarily serves foreign trade businesses, although individual customers remain eligible to use the service. Under the proposed arrangement, customers fund transactions in USDT without requiring foreign recipients to accept cryptocurrency directly. A7 arranges for the recipient to receive payment through a standard bank transfer in the required currency.

The launch follows recent U.S. sanctions targeting the A7 Network over allegations involving more than $17 billion in transactions linked to its payment infrastructure. Petr Fradkov, chairman of PJSC Bank PSB, and A7 CEO Ilan Shor scheduled a live presentation for October 13 to introduce the platform. A7 was established in 2024 with the involvement of PSB Bank, also known as Promsvyazbank, and reports serving approximately 15,000 customers with daily transaction volumes near 2,000.

Regulatory Scrutiny

The U.S. Treasury’s Office of Foreign Assets Control designated the network as a significant transnational criminal organization on October 1, while FinCEN proposed restrictions on transactions involving affiliated payment agents. U.S. authorities alleged that the network used companies registered in third countries to move payments linked to sanctioned entities. The A7 announcement did not address the October sanctions or explain how SWIFT settlement arrangements would operate under the new restrictions.

Key facts

• A7 International charges a fixed 0.3% transaction fee for its new payment service.
• The platform allows customers to settle foreign invoices using USDT while recipients receive traditional SWIFT bank transfers.
• A7 was established in 2024 with involvement from Promsvyazbank (PSB Bank).
• The U.S. Treasury sanctioned the A7 Network on October 1 over transactions exceeding $17 billion.