Global fintech leader Verto has secured key regulatory approvals in the UAE, the US (Wyoming, Delaware, Illinois), South Africa, Kenya, and Nigeria.
These licenses granted by the DFSA (UAE), individual US state regulators, and African financial authorities strengthen Verto’s ability to provide regulated money transfer services, foreign exchange, and local account solutions for businesses operating in these markets.
The most recent approval, granted on January 31, 2025, by the Dubai Financial Services Authority (DFSA), allows VertoFX Ltd (Dubai Branch) to provide money services and AED accounts to businesses in the UAE from its Dubai International Financial Centre (DIFC) branch. Licensing in Wyoming, Delaware, and Illinois further expands Verto’s US-regulated capabilities, enhancing local and international payment access for businesses in these states.
"Businesses continue to face significant challenges with cross-border payments—high costs, inefficiencies, and a lack of transparency," said Anthony Oduu, CTO and co-founder of Verto. "Obtaining these licenses directly supports our mission to provide businesses with secure, compliant, and frictionless global payments, ensuring they can move money where needed without delays or unnecessary barriers."
Key benefits of Verto’s new licensing approvals:
● UAE: Businesses will be able to access local AED banking and seamless international transactions from our DIFC branch.
● US: Money transmitter licenses allow for domestic and international remittances in Wyoming, Delaware, and Illinois.
● Africa: Expanded coverage in Nigeria, Kenya, and South Africa enables faster, lower-cost B2B payments across key regional trade corridors.
Verto’s regulatory licenses, coupled with the platform’s ability and liquidity to facilitate more cost-effective overseas transactions, eliminate barriers for businesses—particularly in regions with limited banking infrastructure.
Now, Verto can offer the following key solutions to customers in the UAE, the US (Wyoming, Delaware, Illinois), South Africa, Kenya, and Nigeria:
• Verto Accounts, which allows businesses to receive, manage, and hold funds in over 50 currencies.
• Verto FX, which allows Verto customers to access better FX savings with its dynamic FX marketplace and advanced liquidity solutions.
• Verto Atlas, which allows financial institutions to offer their clients the ability to open banks in Africa through Verto’s streamlined API.
These new approvals further strengthen Verto’s global payments network, reinforcing its growing reputation as a global enabler of cross-border transactions.