These new licences, granted by the Dubai Financial Services Authority (DFSA), state regulators in the US, and various African financial authorities, improve Verto’s ability to offer regulated money transfer services, foreign exchange, and local account solutions for businesses operating in these markets.
The most recent approval was granted on January 31, 2025, by the DFSA, allowing VertoFX (Dubai Branch) to provide money services and AED accounts to businesses in the UAE from its Dubai International Financial Centre (DIFC) branch. These new licences further expand Verto’s operations in the US with money transmitter licences in Wyoming, Delaware, and Illinois. This expansion increases Verto’s capabilities to offer both domestic and international payment solutions, improving access for businesses in these states.
The newly secured licences provide significant advantages for businesses operating in the UAE, US, and key African markets, including:
UAE: businesses in the UAE can now access local AED banking and simple international transactions through Verto’s DIFC branch.
US: Verto’s money transmitter licences in Wyoming, Delaware, and Illinois enable businesses to conduct both domestic and international remittances.
Africa: expanded coverage in Nigeria, Kenya, and South Africa facilitates faster, more cost-effective B2B payments across vital regional trade corridors.
Verto’s licences, combined with its advanced platform capabilities, provide businesses with a range of tools to facilitate more cost-effective international transactions. Key solutions include:
Verto accounts: businesses can receive, manage, and hold funds in over 50 currencies.
Verto FX: access to competitive foreign exchange rates through Verto’s dynamic marketplace and better liquidity solutions.
Verto Atlas: financial institutions can offer their clients the ability to open accounts in Africa via Verto’s simplified API.
These offerings eliminate barriers, particularly in regions with limited banking infrastructure, and ensure businesses can move funds efficiently across borders.
By expanding its regulatory footprint in the UAE, US, and key African markets, Verto continues to improve its global payments network and offer businesses simple, secure, and compliant financial solutions. With these developments, Verto is set to meet the growing demand for secure, cost-efficient global payment solutions across key international markets.
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