Russia has begun expanding its cryptocurrency payment system to Africa
Amid its isolation from the global financial system, Russia has begun developing an alternative cryptocurrency payment network in Africa.
This was reported by the Financial Times.
According to the publication, the A7 crypto network, linked to fugitive banker Ilan Shor and Probusinessbank, is actively expanding its operations on the African continent. The company is already recruiting staff to launch projects in the region, particularly in Togo.
It is also reported that A7 opened an office in Nigeria last fall and plans to launch a new division in Zimbabwe.
Amid sanctions and exclusion from certain international financial instruments, Russia is attempting to create an alternative payment system, particularly using cryptocurrencies, with a focus on African markets.
Additionally, a large-scale mobile network outage has been reported in the Belgorod region. On March 18, authorities resorted to a complete shutdown of mobile internet for the first time.
Earlier, the authorities in St. Petersburg officially announced restrictions on mobile internet service, citing security measures as the reason.
Internet access was lost in the building of the Russian State Duma amid widespread network restrictions in Moscow.
