Verto launches foreign exchange marketplace

Global fintech Verto has unveiled Verto Marketplace. According to Verto, this represents a game-changing product designed to revolutionise the currency exchange landscape for traders, brokers and treasurers.

The platform directly addresses industry challenges, providing a seamless and transparent trading experience.

Industry professionals have long struggled with limited rate autonomy, high upfront costs, lack of transparency, and inefficient processes. These factors combine to severely impact profitability and operational efficiency.

Accessing illiquid and emerging market currencies like NGN, ZAR, XAF, XOF and KES compound these issues. Verto says that its Marketplace solution confronts them head-on. Specifically, it offers a secure and user-friendly solution that empowers traders with greater control.

Global market for emerging currencies: CAGR growth of 6.5% to 2029

The global market for emerging currencies is expected to grow at a compound annual growth rate (CAGR) of 6.5% over the next five years. As a result, there is a critical need for enhanced liquidity and price visibility.

Verto references research that only 15% of Forex market participants trade exotic currencies. This leads to liquidity issues and higher costs.

The Verto Marketplace addresses this gap. It does so by providing a much-needed platform for smoother and more transparent trading of these currencies to meet the growing demand.

Anthony Oduu, co-Founder of Verto, said: “Our customers have voiced their challenges with the current market dynamics. We’ve seen significant pent-up demand looking for counterparties. That is one of the reasons we’re launching this product. We built Verto Marketplace to directly address these systemic issues. It offers a platform that provides the control, transparency, and cost-efficiency that traders, brokers, and corporate treasurers need.”

Verto Marketplace key features

• Rate autonomy: Users can set their own exchange rates, maximising profitability and gaining a competitive edge.

• Minimal upfront costs: A deposit system that requires only 10% of the trade value upfront significantly reduces financial barriers and risks.

• Secure transactions: All transactions occur within the Verto platform, which is enhanced by stringent security measures, including KYC/AML verification.

• Extensive Currency Coverage: The Marketplace supports 14 currencies, including both G10 and exotic currencies like XOF, XAF, GHS, NGN, KES, and UGX, catering to diverse trading needs.

• User-friendly interface: The Verto Marketplace also boasts a user-friendly interface, advanced search functionality, and real-time transaction support, further streamlining the trading process and ensuring efficient execution.

Story continues

Verto Marketplace is now available for traders, brokers, and treasurers in the US, UK, and EU markets.

“Verto launches foreign exchange marketplace” was originally created and published by Electronic Payments International, a GlobalData owned brand.

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