A7 announces digital payment services to smooth India Russia trade
Russian fintech company A7 announced new digital payment services to make trading between India and Russia smoother.
Presented at the Unchained Summit India held recently in Mumbai, these tools let people and businesses pay in digital currency, which then gets converted into regular bank transfers for suppliers.
This comes after a 60% jump in payments to India earlier this year.
A7 uses USDT, pilots bank payments
A7 uses the USDT stablecoin (tied to the US dollar), so recipients can get their money in dollars, euros, yuan, or dirhams without opening a cryptocurrency wallet: just pay digitally, and
Up next: A7 is exploring a separate payment system through local partner banks, tested first by Indian students and workers in Russia, supporting tuition, accommodation and medical payments, as well as salaries, scholarships and personal transfers.