Verto targets $50bn US–Africa trade gap with named dollar accounts to bypass banking frictions

Verto is expanding its business accounts offering to let US-registered companies open named dollar accounts and move money more easily into African markets, in a push to remove long-standing banking bottlenecks that slow trade and investment flows.

The London-based fintech said on Tuesday the new product allows companies incorporated in the United States to receive, hold and transfer funds in US dollars under their own business names, while accessing payment rails across Africa for faster settlement in local currencies such as the naira and Kenyan shilling.

The move targets a persistent gap in global finance: US businesses operating in Africa often face delayed or blocked transactions, high foreign exchange costs and limited access to local payment infrastructure. Many are forced to rely on intermediaries or fragmented tools, increasing costs and operational risk.

Verto’s solution combines US-based accounts with emerging market payment rails, allowing firms to convert and settle funds quickly while maintaining a domestic US banking presence for customers and investors.

The company said businesses can hold and transact in 48 currencies from a single platform, pay suppliers and contractors using local rails, and issue virtual cards for spending across multiple markets.

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Ola Oyetayo, the co-founder and CEO of Verto, said the product is designed to remove friction for startups, exporters and investors building across borders.

“Founders operating globally should not be constrained by traditional banking limitations,” he said, adding that named US accounts would help firms move capital more freely between the US and Africa.

The expansion comes as cross-border payments into Africa continue to grow, driven by trade, diaspora flows and venture funding, but remain constrained by compliance hurdles and weak correspondent banking links. US banks, in particular, have tightened controls on transactions involving some African markets, citing regulatory risks, leading to higher rejection rates and delays.

By integrating compliance across both jurisdictions, Verto said it can onboard clients more efficiently while ensuring transactions meet regulatory standards in the US and African markets. The infrastructure also aims to reduce the risk of payment disruptions that can affect payroll, supplier payments and investment inflows.

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The company processes about $25 billion in annual transaction volume, positioning itself as a key intermediary in emerging market payments as businesses seek alternatives to traditional banks.

Analysts say solutions that bridge US and African financial systems could unlock faster trade cycles and improve liquidity for businesses operating across both regions. However, scaling such platforms will depend on maintaining strong regulatory partnerships and managing currency volatility in frontier markets.

Verto’s latest offering underscores a broader shift in global finance, where fintechs are increasingly stepping in to rebuild cross-border payment rails, particularly in regions underserved by traditional banking infrastructure.