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A7 International Launches USDT Payment Service for Foreign Invoices via SWIFT
A7 International, a fintech platform based in Moscow, Russia, has introduced a new service allowing businesses to settle foreign invoices using the stablecoin USDT. Launched on October 13, 2024, this service enables senders to pay invoices in USDT while recipients receive the equivalent amount in their preferred currency through standard SWIFT transfers, eliminating the need for a cryptocurrency wallet on the receiving end.
The process is designed to streamline cross-border payments, which are often slow and costly due to traditional banking methods. A7 International converts the USDT sent by the sender and routes the funds through its SWIFT infrastructure to the recipient's bank account. Initially, the service supports payouts in USD, EUR, CNY, and AED, with additional currencies available upon request. A fixed fee of 0.3% per transaction applies, and processing can begin within one business day.
A7 International claims to have a significant impact on Russian cross-border trade, processing around 19% of international settlement volumes for Russian companies in 2025, amounting to over 10 trillion roubles. The platform, which was founded in 2024, currently serves approximately 15,000 clients and handles about 2,000 transactions daily across more than 100 countries.
The service is particularly advantageous for businesses looking to avoid the delays and costs associated with traditional correspondent banking. Recipients, such as suppliers in Germany or manufacturers in China, benefit from receiving payments in their local currency without needing to engage with cryptocurrency, thus simplifying the transaction process. A7 International's compliance infrastructure, including an AI-driven routing system, ensures adherence to regulatory requirements, enhancing its appeal in regions where digital assets are legally permitted.
Source: KLEA News