Verto, a global cross-border payments platform, announced on Monday the launch of Verto Reserve, a treasury feature designed to help businesses earn up to 10 percent interest on idle funds held in Nigerian naira (NGN), Kenyan shilling (KES) and G10 currencies, regardless of where the business is incorporated.
How Verto Reserve transforms idle funds into interest-earning assets
Businesses operating internationally often hold significant amounts of money in various unused currencies, representing lost opportunities for growth. Verto Reserve addresses this by allowing companies to convert these idle balances into interest-bearing assets without establishing local entities in those countries.
Anthony Oduu, Chief Technology Officer at Verto, said, “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 just a few clicks on the Verto platform, businesses can open wallets in NGN and KES and start earning interest, streamlining treasury management and optimising liquidity. This feature integrates seamlessly with Verto’s existing cross-border payment solutions, enabling companies to manage payments and idle capital from a single interface efficiently.
Strategic partnerships and compliance ensure secure interest earnings
Verto has partnered with licensed financial institutions in Nigeria and Kenya to offer this service. This collaboration ensures deposit-taking services comply with local regulatory frameworks, providing businesses with a secure and compliant way to earn interest on their funds.
The company emphasised that Verto Reserve combines the convenience of cross-border payments with attractive interest rates, helping businesses reduce exposure to idle capital and unlock new revenue streams without the complexity of managing multiple local bank accounts.
Oduu highlighted the advantage for global firms: “Verto Reserve is designed to make those funds work harder” by consolidating treasury operations and improving capital efficiency across multiple markets.
Verto Reserve marks a significant step in Verto’s mission to provide smarter financial tools for businesses navigating international markets. These tools empower businesses to maximise returns on their currency holdings while simplifying treasury management.
