The international payment platform A7 has been included in the new EU sanctions package among organizations and individuals associated with Moldovan businessman Ilan Shor. The platform's main activity is the issuance of the digital asset A7A5, the value of which is pegged to the ruble exchange rate and secured by funds deposited in the issuer's bank accounts.
The A7 platform was created in 2024 by Promsvyazbank to assist Russian importers and exporters in conducting settlements with foreign partners. In addition, since A7A5 relies on a fiat base, stablecoin holders receive daily income from funds placed in the issuer's deposit accounts. A weekly report is published on the total reserves and profitability of the stablecoin in terms of annual interest.
Amid the news, the stablecoin team hastened to reassure clients that the coin is issued by an independent company, Old Vector, which is not on the sanctions lists, and that all processes are proceeding as usual.
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