Verto

According to reports, the FCA has authorized Verto of the Electronic Money Institute (EMI) to launch a US dollar account. According to the Electronic Money Regulations (EMR) of 2011, customer funds are deposited in protected accounts, which set out protection requirements to protect the funds received by customers to provide payment services or electronic currency. Interpretation of this information: The Financial Conduct Authority (FCA) has recently authorized Verto, an Electronic Money Institute (EMI), to launch a US dollar account. This means that Verto will be able to offer payment services…