Verto, a business-to-business payments platform, has launched US dollar-denominated business accounts to facilitate transactions between companies in the United States and Africa. The service, announced on April 8, 2026, allows African businesses to hold, send, and receive USD directly, aiming to streamline cross-border trade and treasury operations.
The company states the accounts are designed to mitigate common pain points in US-Africa commerce, such as the high costs and delays associated with traditional correspondent banking networks. Businesses can use the accounts to make payments to US suppliers, receive dollar revenues from American clients, and manage foreign exchange exposure. Verto, which is headquartered in London with operational hubs in Lagos and Nairobi, processes payments for thousands of businesses across more than 180 countries.
Ola Oyetayo, Verto's co-founder and CEO, said the product addresses a fundamental need for African enterprises engaged in international trade. "By providing African businesses with direct access to USD accounts, we are removing a significant barrier to seamless cross-border commerce with the United States," Oyetayo said. The launch reflects a broader push within Africa's fintech sector to build more efficient financial infrastructure for small and medium-sized enterprises, which often struggle with access to global banking services.
The move comes amid a period of regulatory evolution and growing competition in the cross-border payments space linking Africa to North America. Just days before Verto's announcement, another payments firm, WeWire, secured approval from the Bank of Canada for its international money transfer operations, a step the company said would enhance its services for payments between Africa and North America. These developments highlight a trend of fintechs seeking formal regulatory endorsements in major Western markets to bolster their credibility and operational scope.
For African businesses, holding USD can provide a hedge against local currency volatility, which remains a persistent challenge in many markets. It also simplifies accounting and reduces the need for multiple currency conversions on each leg of a transaction. Verto's platform integrates these accounts with its existing suite for multi-currency exchange and international payments, positioning it as a competitor to both traditional banks and other B2B fintechs operating in the corridor.
The success of such services often hinges on partnerships with banking institutions and compliance with anti-money laundering standards in multiple jurisdictions. Verto has previously highlighted its licenses and registrations, including with the Financial Conduct Authority in the UK. The company's focus on the US-Africa corridor taps into a substantial flow of trade and remittances, though the market is also served by larger players like Flutterwave and Chipper Cash, which have expanded their B2B offerings in recent years.