Verto launches UAE hub to enhance Middle East-Africa cross-border B2B payments

Verto has officially launched its operations in the UAE, aiming to enhance cross-border B2B payments between the Middle East and emerging markets in Africa. The platform processes over $25 billion annually for major clients and offers features like instant or near-instant settlements, multi-currency accounts, and foreign exchange risk management tools, including rate locking and automated conversions. Verto’s UAE branch operates under authorization from the Dubai Financial Services Authority, providing regulated money services that facilitate smoother transactions, particularly for Kenyan and other African businesses trading with the Gulf. This expansion addresses longstanding issues of slow, opaque payment corridors burdened by multiple correspondent banks and high costs, thereby improving traceability and reducing settlement times from days to hours. The company emphasizes its role as a critical partner, ensuring that payments keep pace with high-value, time-sensitive global commerce flows, especially along key corridors such as UAE to Nigeria, Kenya, South Africa, West Africa, and China. This launch aligns with growing trade ties, particularly between Kenya and the UAE, underscoring the UAE’s position as a vital commercial hub in the region.