Verto has today announced the launch of Verto Reserve. This is a new feature for businesses to earn interest on their holdings in G10 and African currencies, regardless of their country of incorporation. Verto Reserve is being offered in partnership with financial institutions that are licensed to provide deposit-taking services in Kenya and Nigeria.
Customers can now fully utilize idle funds sitting in various currency wallets and accounts, achieving interest earnings of up to 10% and offering a unique opportunity for businesses to optimize their treasury management.
With Verto Reserve, customers can seamlessly open interest-earning accounts in Nigerian Naira (NGN), and Kenyan Shilling (KES) with just a few clicks. This eliminates the need to have a local entity in these countries to benefit from local currency interest rates. Businesses can now manage their cross-border payments and simultaneously take advantage of interest-earning savings and treasury management, all within Verto’s unified platform.
“We understand that businesses operating globally often hold significant balances in various currencies,” says Verto CTO Anthony Oduu. “Verto Reserve is designed to make those funds work harder. We’re thrilled to offer a truly unique all-in-one solution that allows our customers to earn interest in key African and G10 currencies, even if they don’t have a local presence in those markets.”
With Verto Reserve, Verto is an all-in-one solution, offering a powerful combination of seamless payment processing and attractive interest-earning opportunities.
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