Verto announces expansion of currencies offering for instant cross-border payments worldwide

By Joy Dumasia

Verto, the leading B2B cross-border foreign exchange (FX) and payments enabler, announced the increase in the number of supported currencies that customers can convert between and make payments in. Verto’s customers can now accept and send payments instantly in 12 new currencies, all from one single and easy to use platform, further eliminating the barriers to cross-border payments.  

These new currencies are simply an addition to Verto’s extensive list of existing currencies. The expansion in available currencies to Verto’s users, from 39 to 51, are available across the entire product suite, including e-wallets, creating seamless cross-border solutions for some of the fastest-growing companies worldwide and enhancing the customer experience. Businesses that struggled to make payments to and from countries like Bangladesh, Brazil, Ethiopia, Morocco and Sri Lanka can now benefit from enhanced liquidity, faster payment capabilities and instant local settlement times.  

Verto is in the midst of tremendous growth and expansion, following a $10 million in Series A funding in September 2021. Last year, the company onboarded over 7,000 new businesses and had processed nearly $1.5 billion transactions, with the total volume growing by 303%. The company has also grown its team, with 33 new hires since the beginning of last year, including the appointment of Tim Rudman as the new Chief Operating Officer. The majority of these new hires are positioned to strengthen and further enhance Verto’s offering to underserved businesses worldwide.  

Verto is working to ensure that businesses of all sizes have access to enterprise-grade cross-border payments, FX and banking solutions via its advanced API platform, automating and simplifying payments for businesses.  

CEO and Co-Founder of Verto, Ola Oyetayo, said: “Verto is continuing to strengthen and expand its emerging markets coverage to bring efficient, affordable and secure cross-border payments to emerging markets worldwide. With the expansion of the number of currencies our platform offers, businesses, regardless of size, type and jurisdiction, can rely on Verto’s secure payments platform to send cross-border payments instantly worldwide. The expansion of our currency offering also comes with the expansion of our tremendous team as we continue on this growth trajectory and our mission to level the playing field for emerging markets. We look forward to making finding a specific currency pair between illiquid currencies, slow payments, and high fees, a thing of the past.”

IBS Intelligence reported that Verto, the leading B2B cross-border foreign exchange (FX) and payments enabler, announced a partnership with payments specialist Acquired to deliver their innovative eCommerce wallet top-up and payment functionality.