Latest news with #A7
Yahoo
a day ago
- Business
- Yahoo
Transfers with rouble-backed crypto coin pass $40 billion after July spike, researchers say
By Alexander Marrow and Elizabeth Howcroft LONDON/PARIS (Reuters) -A rouble-backed stablecoin that could help Russia circumvent Western restrictions on payments has seen a jump in transaction volumes in July, with funds moved through the coin surging past $40 billion in total, blockchain research firm Elliptic said on Monday. Sweeping Western sanctions since Russia's February 2022 full-scale invasion of Ukraine, particularly the exclusion of Russian banks from the SWIFT global financial messaging system, have sorely hampered Moscow's trading options and left Russia seeking alternative routes for cross-border payments. Russian defence sector lender Promsvyazbank and payments firm A7, both of which are under Western sanctions, announced the launch of the new Kyrgyzstan-based stablecoin A7A5 in January, promoting its potential as a tool for foreign trade. Elliptic, whose data and intelligence was used by the U.S. Secret Service in taking down the online infrastructure used by Russian cryptocurrency exchange Garantex in March, said in a report that A7A5 was becoming increasingly effective in helping Russian businesses and individuals avoid sanctions by bypassing the traditional financial system. TRM Labs, another blockchain research firm, has identified A7A5 as being part of a new nexus of Kyrgyzstan-registered entities with cryptocurrency connections to sanctions evasion that is also likely tied to the import of dual-use goods from China to Russia through Central Asia. A7A5, Promsvyazbank and A7 did not immediately respond to requests for comment. VOLUME SPIKE Promsvyazbank, when launching A7 in late 2024, said the platform would help Russian companies make smooth cross-border settlements and said firms could pay for services and supplies in China without using SWIFT. A stablecoin, A7A5 enables cross-border payments that most Russian banks cannot offer. Reuters could not independently determine the source of funds in A7A5 or the reasons for the transfers. Elliptic's analysis showed that over $1 billion was now being transferred through A7A5 each day, with an aggregate value to date of $41.2 billion, noting a spike in volumes, liquidity and tokens in circulation in July. TRM Labs observed a similar aggregate volume. Surging A7A5 demand has seen the stablecoin's market capitalisation triple to $521 million in less than two weeks, Elliptic said. A7A5 on Monday wrote on Telegram that it had injected $100 million of fresh liquidity in the stablecoin Tether (USDT) into the A7A5 DEX, a decentralised exchange. "Demand for A7A5 to USDT at the best rates remains high, liquidity is gone in minutes," A7A5 said. Tether, which regularly works with global law enforcement in helping to seize illicit funds across various jurisdictions, did not immediately respond to a request for comment.
Reuters
a day ago
- Business
- Reuters
Transfers with rouble-backed crypto coin pass $40 billion after July spike, researchers say
LONDON/PARIS, July 28 (Reuters) - A rouble-backed stablecoin that could help Russia circumvent Western restrictions on payments has seen a jump in transaction volumes in July, with funds moved through the coin surging past $40 billion in total, blockchain research firm Elliptic said on Monday. Sweeping Western sanctions since Russia's February 2022 full-scale invasion of Ukraine, particularly the exclusion of Russian banks from the SWIFT global financial messaging system, have sorely hampered Moscow's trading options and left Russia seeking alternative routes for cross-border payments. Russian defence sector lender Promsvyazbank and payments firm A7, both of which are under Western sanctions, announced the launch of the new Kyrgyzstan-based stablecoin A7A5 in January, promoting its potential as a tool for foreign trade. Elliptic, whose data and intelligence was used by the U.S. Secret Service in taking down the online infrastructure used by Russian cryptocurrency exchange Garantex in March, said in a report that A7A5 was becoming increasingly effective in helping Russian businesses and individuals avoid sanctions by bypassing the traditional financial system. TRM Labs, another blockchain research firm, has identified A7A5 as being part of a new nexus of Kyrgyzstan-registered entities with cryptocurrency connections to sanctions evasion that is also likely tied to the import of dual-use goods from China to Russia through Central Asia. A7A5, Promsvyazbank and A7 did not immediately respond to requests for comment. Promsvyazbank, when launching A7 in late 2024, said the platform would help Russian companies make smooth cross-border settlements and said firms could pay for services and supplies in China without using SWIFT. A stablecoin, A7A5 enables cross-border payments that most Russian banks cannot offer. Reuters could not independently determine the source of funds in A7A5 or the reasons for the transfers. Elliptic's analysis showed that over $1 billion was now being transferred through A7A5 each day, with an aggregate value to date of $41.2 billion, noting a spike in volumes, liquidity and tokens in circulation in July. TRM Labs observed a similar aggregate volume. Surging A7A5 demand has seen the stablecoin's market capitalisation triple to $521 million in less than two weeks, Elliptic said. A7A5 on Monday wrote on Telegram that it had injected $100 million of fresh liquidity in the stablecoin Tether (USDT) into the A7A5 DEX, a decentralised exchange. "Demand for A7A5 to USDT at the best rates remains high, liquidity is gone in minutes," A7A5 said. Tether, which regularly works with global law enforcement in helping to seize illicit funds across various jurisdictions, did not immediately respond to a request for comment.
7NEWS
5 days ago
- Automotive
- 7NEWS
Audi Australia culls more passenger cars in increasingly SUV-heavy lineup
The Audi A7 Sportback and S8 limousine are the latest passenger models from the German luxury brand to become unavailable to order in Australia. Audi Australia has updated its website to confirm orders for the large five-door liftback and even larger four-door sedan are now closed. While the A7 is at the end of its lifecycle – it's understood the latest A6 replaces both the outgoing A6 and A7 – the S8 hasn't been discontinued globally. The S8 also continues to be offered in the UK, another major right-hand drive market, as well as in its home market of Germany. CarExpert can save you thousands on a new car. Click here to get a great deal. ABOVE: Audi A7 However, the A8 and S8 family entered production late in 2017, which means they're close to a decade old now, and yet no replacement has been announced, combustion-powered or otherwise. 'The S8 is no longer available in showrooms at this stage,' confirmed an Audi Australia spokesperson. 'While the A8 range is currently unavailable, the Audi Australia team constantly evaluates all models available to us from the factory, ensuring that we have a broad range of models available here to meet customer's needs.' The removal of the A7 and S8 from Australian order books comes after the 'regular' A8 was retired locally, and orders were closed for the high-riding A6 allroad wagon, the S6 sports sedan and the S7 Sportback after the 2024 model year. That leaves Audi's large passenger model range consisting of only the high-performance RS6 Avant and RS7 Sportback, plus the outgoing A6 sedan and the recently updated S and RS e-tron GT electric sedans. If you want a large, combustion-powered Audi without the RS treatment, you now have just one option: the A6 45 TFSI quattro S line, priced at $124,950 before on-roads. ABOVE: New-generation Audi A6 (left), outgoing model (right) A look at Audi's German website confirms the outgoing A6 and A7, including their sportier S and RS variants, are no longer available to order. Audi is replacing the outgoing A6 with a new-generation sedan and Avant wagon based on the company's Premium Platform Combustion (PPC), which will be complemented by the electric A6 e-tron and A6 Avant e-tron based on the Premium Platform Electric (PPE). Both of these model lines are already on sale in Europe but Audi has yet to officially lock them in for Australian release. Instead, it says these vehicles are 'currently under evaluation for the Australian market'. 'Our product team are constantly evaluating each model line and the specific models within the range to determine the mix, pricing, and specification for everything we offer here in Australia,' said the spokesperson. Should Audi not bring the new-generation A6 to Australia, including its inevitable hotted-up RS flagship, the recently launched A5/S5 would become the brand's largest combustion-powered passenger car available in Australia. ABOVE: Audi S8 The discontinuation of the S8 locally now leaves Audi without a model in the so-called 'Upper Large' passenger car segment, which also contains vehicles like the rival BMW 7 Series, Lexus LS and Mercedes-Benz S-Class, after 30 years. Audi delivered just three S8s in the first half of this year, but even looking at full-year sales of the A8/S8 in 2024 – when the flagship was still available to order – it notched up only 10 deliveries, down 47.4 per cent on the previous year and behind the LS (11), S-Class (43) and 7 Series (49). It isn't just the Upper Large segment from which Audi is withdrawing. The four-ringed brand no longer offers any coupe or convertible models, neither here nor abroad, following the axing of the R8 supercar and TT sports car, and the introduction of the new-generation of A5 without any two-door variants.
Perth Now
5 days ago
- Automotive
- Perth Now
Audi Australia culls more passenger cars in increasingly SUV-heavy lineup
The Audi A7 Sportback and S8 limousine are the latest passenger models from the German luxury brand to become unavailable to order in Australia. Audi Australia has updated its website to confirm orders for the large five-door liftback and even larger four-door sedan are now closed. While the A7 is at the end of its lifecycle – it's understood the latest A6 replaces both the outgoing A6 and A7 – the S8 hasn't been discontinued globally. The S8 also continues to be offered in the UK, another major right-hand drive market, as well as in its home market of Germany. CarExpert can save you thousands on a new car. Click here to get a great deal. Supplied Credit: CarExpert ABOVE: Audi A7 However, the A8 and S8 family entered production late in 2017, which means they're close to a decade old now, and yet no replacement has been announced, combustion-powered or otherwise. 'The S8 is no longer available in showrooms at this stage,' confirmed an Audi Australia spokesperson. 'While the A8 range is currently unavailable, the Audi Australia team constantly evaluates all models available to us from the factory, ensuring that we have a broad range of models available here to meet customer's needs.' The removal of the A7 and S8 from Australian order books comes after the 'regular' A8 was retired locally, and orders were closed for the high-riding A6 allroad wagon, the S6 sports sedan and the S7 Sportback after the 2024 model year. That leaves Audi's large passenger model range consisting of only the high-performance RS6 Avant and RS7 Sportback, plus the outgoing A6 sedan and the recently updated S and RS e-tron GT electric sedans. If you want a large, combustion-powered Audi without the RS treatment, you now have just one option: the A6 45 TFSI quattro S line, priced at $124,950 before on-roads. Supplied Credit: CarExpert Supplied Credit: CarExpert ABOVE: New-generation Audi A6 (left), outgoing model (right) A look at Audi's German website confirms the outgoing A6 and A7, including their sportier S and RS variants, are no longer available to order. Audi is replacing the outgoing A6 with a new-generation sedan and Avant wagon based on the company's Premium Platform Combustion (PPC), which will be complemented by the electric A6 e-tron and A6 Avant e-tron based on the Premium Platform Electric (PPE). Both of these model lines are already on sale in Europe but Audi has yet to officially lock them in for Australian release. Instead, it says these vehicles are 'currently under evaluation for the Australian market'. 'Our product team are constantly evaluating each model line and the specific models within the range to determine the mix, pricing, and specification for everything we offer here in Australia,' said the spokesperson. Should Audi not bring the new-generation A6 to Australia, including its inevitable hotted-up RS flagship, the recently launched A5/S5 would become the brand's largest combustion-powered passenger car available in Australia. Supplied Credit: CarExpert ABOVE: Audi S8 The discontinuation of the S8 locally now leaves Audi without a model in the so-called 'Upper Large' passenger car segment, which also contains vehicles like the rival BMW 7 Series, Lexus LS and Mercedes-Benz S-Class, after 30 years. Audi delivered just three S8s in the first half of this year, but even looking at full-year sales of the A8/S8 in 2024 – when the flagship was still available to order – it notched up only 10 deliveries, down 47.4 per cent on the previous year and behind the LS (11), S-Class (43) and 7 Series (49). It isn't just the Upper Large segment from which Audi is withdrawing. The four-ringed brand no longer offers any coupe or convertible models, neither here nor abroad, following the axing of the R8 supercar and TT sports car, and the introduction of the new-generation of A5 without any two-door variants. MORE: Everything Audi A6 • S6 • RS6 • A7 • S7 • RS7 • A8 • S8
The Advertiser
5 days ago
- Automotive
- The Advertiser
Audi Australia culls more passenger cars in increasingly SUV-heavy lineup
The Audi A7 Sportback and S8 limousine are the latest passenger models from the German luxury brand to become unavailable to order in Australia. Audi Australia has updated its website to confirm orders for the large five-door liftback and even larger four-door sedan are now closed. While the A7 is at the end of its lifecycle – it's understood the latest A6 replaces both the outgoing A6 and A7 – the S8 hasn't been discontinued globally. The S8 also continues to be offered in the UK, another major right-hand drive market, as well as in its home market of Germany. CarExpert can save you thousands on a new car. Click here to get a great deal. ABOVE: Audi A7 However, the A8 and S8 family entered production late in 2017, which means they're close to a decade old now, and yet no replacement has been announced, combustion-powered or otherwise. "The S8 is no longer available in showrooms at this stage," confirmed an Audi Australia spokesperson. "While the A8 range is currently unavailable, the Audi Australia team constantly evaluates all models available to us from the factory, ensuring that we have a broad range of models available here to meet customer's needs." The removal of the A7 and S8 from Australian order books comes after the 'regular' A8 was retired locally, and orders were closed for the high-riding A6 allroad wagon, the S6 sports sedan and the S7 Sportback after the 2024 model year. That leaves Audi's large passenger model range consisting of only the high-performance RS6 Avant and RS7 Sportback, plus the outgoing A6 sedan and the recently updated S and RS e-tron GT electric sedans. If you want a large, combustion-powered Audi without the RS treatment, you now have just one option: the A6 45 TFSI quattro S line, priced at $124,950 before on-roads. ABOVE: New-generation Audi A6 (left), outgoing model (right) A look at Audi's German website confirms the outgoing A6 and A7, including their sportier S and RS variants, are no longer available to order. Audi is replacing the outgoing A6 with a new-generation sedan and Avant wagon based on the company's Premium Platform Combustion (PPC), which will be complemented by the electric A6 e-tron and A6 Avant e-tron based on the Premium Platform Electric (PPE). Both of these model lines are already on sale in Europe but Audi has yet to officially lock them in for Australian release. Instead, it says these vehicles are "currently under evaluation for the Australian market". "Our product team are constantly evaluating each model line and the specific models within the range to determine the mix, pricing, and specification for everything we offer here in Australia," said the spokesperson. Should Audi not bring the new-generation A6 to Australia, including its inevitable hotted-up RS flagship, the recently launched A5/S5 would become the brand's largest combustion-powered passenger car available in Australia. ABOVE: Audi S8 The discontinuation of the S8 locally now leaves Audi without a model in the so-called 'Upper Large' passenger car segment, which also contains vehicles like the rival BMW 7 Series, Lexus LS and Mercedes-Benz S-Class, after 30 years. Audi delivered just three S8s in the first half of this year, but even looking at full-year sales of the A8/S8 in 2024 – when the flagship was still available to order – it notched up only 10 deliveries, down 47.4 per cent on the previous year and behind the LS (11), S-Class (43) and 7 Series (49). It isn't just the Upper Large segment from which Audi is withdrawing. The four-ringed brand no longer offers any coupe or convertible models, neither here nor abroad, following the axing of the R8 supercar and TT sports car, and the introduction of the new-generation of A5 without any two-door variants. MORE: Everything Audi A6 • S6 • RS6 • A7 • S7 • RS7 • A8 • S8 Content originally sourced from: The Audi A7 Sportback and S8 limousine are the latest passenger models from the German luxury brand to become unavailable to order in Australia. Audi Australia has updated its website to confirm orders for the large five-door liftback and even larger four-door sedan are now closed. While the A7 is at the end of its lifecycle – it's understood the latest A6 replaces both the outgoing A6 and A7 – the S8 hasn't been discontinued globally. The S8 also continues to be offered in the UK, another major right-hand drive market, as well as in its home market of Germany. CarExpert can save you thousands on a new car. Click here to get a great deal. ABOVE: Audi A7 However, the A8 and S8 family entered production late in 2017, which means they're close to a decade old now, and yet no replacement has been announced, combustion-powered or otherwise. "The S8 is no longer available in showrooms at this stage," confirmed an Audi Australia spokesperson. "While the A8 range is currently unavailable, the Audi Australia team constantly evaluates all models available to us from the factory, ensuring that we have a broad range of models available here to meet customer's needs." The removal of the A7 and S8 from Australian order books comes after the 'regular' A8 was retired locally, and orders were closed for the high-riding A6 allroad wagon, the S6 sports sedan and the S7 Sportback after the 2024 model year. That leaves Audi's large passenger model range consisting of only the high-performance RS6 Avant and RS7 Sportback, plus the outgoing A6 sedan and the recently updated S and RS e-tron GT electric sedans. If you want a large, combustion-powered Audi without the RS treatment, you now have just one option: the A6 45 TFSI quattro S line, priced at $124,950 before on-roads. ABOVE: New-generation Audi A6 (left), outgoing model (right) A look at Audi's German website confirms the outgoing A6 and A7, including their sportier S and RS variants, are no longer available to order. Audi is replacing the outgoing A6 with a new-generation sedan and Avant wagon based on the company's Premium Platform Combustion (PPC), which will be complemented by the electric A6 e-tron and A6 Avant e-tron based on the Premium Platform Electric (PPE). Both of these model lines are already on sale in Europe but Audi has yet to officially lock them in for Australian release. Instead, it says these vehicles are "currently under evaluation for the Australian market". "Our product team are constantly evaluating each model line and the specific models within the range to determine the mix, pricing, and specification for everything we offer here in Australia," said the spokesperson. Should Audi not bring the new-generation A6 to Australia, including its inevitable hotted-up RS flagship, the recently launched A5/S5 would become the brand's largest combustion-powered passenger car available in Australia. ABOVE: Audi S8 The discontinuation of the S8 locally now leaves Audi without a model in the so-called 'Upper Large' passenger car segment, which also contains vehicles like the rival BMW 7 Series, Lexus LS and Mercedes-Benz S-Class, after 30 years. Audi delivered just three S8s in the first half of this year, but even looking at full-year sales of the A8/S8 in 2024 – when the flagship was still available to order – it notched up only 10 deliveries, down 47.4 per cent on the previous year and behind the LS (11), S-Class (43) and 7 Series (49). It isn't just the Upper Large segment from which Audi is withdrawing. The four-ringed brand no longer offers any coupe or convertible models, neither here nor abroad, following the axing of the R8 supercar and TT sports car, and the introduction of the new-generation of A5 without any two-door variants. MORE: Everything Audi A6 • S6 • RS6 • A7 • S7 • RS7 • A8 • S8 Content originally sourced from: The Audi A7 Sportback and S8 limousine are the latest passenger models from the German luxury brand to become unavailable to order in Australia. Audi Australia has updated its website to confirm orders for the large five-door liftback and even larger four-door sedan are now closed. While the A7 is at the end of its lifecycle – it's understood the latest A6 replaces both the outgoing A6 and A7 – the S8 hasn't been discontinued globally. The S8 also continues to be offered in the UK, another major right-hand drive market, as well as in its home market of Germany. CarExpert can save you thousands on a new car. Click here to get a great deal. ABOVE: Audi A7 However, the A8 and S8 family entered production late in 2017, which means they're close to a decade old now, and yet no replacement has been announced, combustion-powered or otherwise. "The S8 is no longer available in showrooms at this stage," confirmed an Audi Australia spokesperson. "While the A8 range is currently unavailable, the Audi Australia team constantly evaluates all models available to us from the factory, ensuring that we have a broad range of models available here to meet customer's needs." The removal of the A7 and S8 from Australian order books comes after the 'regular' A8 was retired locally, and orders were closed for the high-riding A6 allroad wagon, the S6 sports sedan and the S7 Sportback after the 2024 model year. That leaves Audi's large passenger model range consisting of only the high-performance RS6 Avant and RS7 Sportback, plus the outgoing A6 sedan and the recently updated S and RS e-tron GT electric sedans. If you want a large, combustion-powered Audi without the RS treatment, you now have just one option: the A6 45 TFSI quattro S line, priced at $124,950 before on-roads. ABOVE: New-generation Audi A6 (left), outgoing model (right) A look at Audi's German website confirms the outgoing A6 and A7, including their sportier S and RS variants, are no longer available to order. Audi is replacing the outgoing A6 with a new-generation sedan and Avant wagon based on the company's Premium Platform Combustion (PPC), which will be complemented by the electric A6 e-tron and A6 Avant e-tron based on the Premium Platform Electric (PPE). Both of these model lines are already on sale in Europe but Audi has yet to officially lock them in for Australian release. Instead, it says these vehicles are "currently under evaluation for the Australian market". "Our product team are constantly evaluating each model line and the specific models within the range to determine the mix, pricing, and specification for everything we offer here in Australia," said the spokesperson. Should Audi not bring the new-generation A6 to Australia, including its inevitable hotted-up RS flagship, the recently launched A5/S5 would become the brand's largest combustion-powered passenger car available in Australia. ABOVE: Audi S8 The discontinuation of the S8 locally now leaves Audi without a model in the so-called 'Upper Large' passenger car segment, which also contains vehicles like the rival BMW 7 Series, Lexus LS and Mercedes-Benz S-Class, after 30 years. Audi delivered just three S8s in the first half of this year, but even looking at full-year sales of the A8/S8 in 2024 – when the flagship was still available to order – it notched up only 10 deliveries, down 47.4 per cent on the previous year and behind the LS (11), S-Class (43) and 7 Series (49). It isn't just the Upper Large segment from which Audi is withdrawing. The four-ringed brand no longer offers any coupe or convertible models, neither here nor abroad, following the axing of the R8 supercar and TT sports car, and the introduction of the new-generation of A5 without any two-door variants. MORE: Everything Audi A6 • S6 • RS6 • A7 • S7 • RS7 • A8 • S8 Content originally sourced from: The Audi A7 Sportback and S8 limousine are the latest passenger models from the German luxury brand to become unavailable to order in Australia. Audi Australia has updated its website to confirm orders for the large five-door liftback and even larger four-door sedan are now closed. While the A7 is at the end of its lifecycle – it's understood the latest A6 replaces both the outgoing A6 and A7 – the S8 hasn't been discontinued globally. The S8 also continues to be offered in the UK, another major right-hand drive market, as well as in its home market of Germany. CarExpert can save you thousands on a new car. Click here to get a great deal. ABOVE: Audi A7 However, the A8 and S8 family entered production late in 2017, which means they're close to a decade old now, and yet no replacement has been announced, combustion-powered or otherwise. "The S8 is no longer available in showrooms at this stage," confirmed an Audi Australia spokesperson. "While the A8 range is currently unavailable, the Audi Australia team constantly evaluates all models available to us from the factory, ensuring that we have a broad range of models available here to meet customer's needs." The removal of the A7 and S8 from Australian order books comes after the 'regular' A8 was retired locally, and orders were closed for the high-riding A6 allroad wagon, the S6 sports sedan and the S7 Sportback after the 2024 model year. That leaves Audi's large passenger model range consisting of only the high-performance RS6 Avant and RS7 Sportback, plus the outgoing A6 sedan and the recently updated S and RS e-tron GT electric sedans. If you want a large, combustion-powered Audi without the RS treatment, you now have just one option: the A6 45 TFSI quattro S line, priced at $124,950 before on-roads. ABOVE: New-generation Audi A6 (left), outgoing model (right) A look at Audi's German website confirms the outgoing A6 and A7, including their sportier S and RS variants, are no longer available to order. Audi is replacing the outgoing A6 with a new-generation sedan and Avant wagon based on the company's Premium Platform Combustion (PPC), which will be complemented by the electric A6 e-tron and A6 Avant e-tron based on the Premium Platform Electric (PPE). Both of these model lines are already on sale in Europe but Audi has yet to officially lock them in for Australian release. Instead, it says these vehicles are "currently under evaluation for the Australian market". "Our product team are constantly evaluating each model line and the specific models within the range to determine the mix, pricing, and specification for everything we offer here in Australia," said the spokesperson. Should Audi not bring the new-generation A6 to Australia, including its inevitable hotted-up RS flagship, the recently launched A5/S5 would become the brand's largest combustion-powered passenger car available in Australia. ABOVE: Audi S8 The discontinuation of the S8 locally now leaves Audi without a model in the so-called 'Upper Large' passenger car segment, which also contains vehicles like the rival BMW 7 Series, Lexus LS and Mercedes-Benz S-Class, after 30 years. Audi delivered just three S8s in the first half of this year, but even looking at full-year sales of the A8/S8 in 2024 – when the flagship was still available to order – it notched up only 10 deliveries, down 47.4 per cent on the previous year and behind the LS (11), S-Class (43) and 7 Series (49). It isn't just the Upper Large segment from which Audi is withdrawing. The four-ringed brand no longer offers any coupe or convertible models, neither here nor abroad, following the axing of the R8 supercar and TT sports car, and the introduction of the new-generation of A5 without any two-door variants. MORE: Everything Audi A6 • S6 • RS6 • A7 • S7 • RS7 • A8 • S8 Content originally sourced from:
