The Milken Institute and the Motsepe Foundation have announced Verto, a UK-based financial technology company, as the winner of the Milken-Motsepe Prize in Fintech.
The announcement was made at the Milken Institute Global Conference in Los Angeles.
The US$2 million innovation award recognises initiatives aimed at improving access to capital and financial services for small businesses in emerging and frontier markets.
Verto received the US$1 million Grand Prize for its business-to-business cross-border payments platform.
The platform facilitates payments for businesses in emerging markets by removing intermediary fees, supporting 49 currencies, and enabling faster transaction settlements.
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