VertoFX alternative for paying suppliers in China from stablecoins
Verto takes neither stablecoins nor crypto businesses. For companies paying China suppliers from USDT or USDC, or working in crypto, Unigox is a VertoFX alternative. Stay with Verto for African local accounts, fiat FX and team cards.
When Unigox fits better than Verto
Your supplier money is held in USDT or USDC
Verto's help centre says it exchanges fiat only: no crypto deposits, no crypto withdrawals and no crypto wallets on its platform. Unigox pays the supplier invoice from the USDT or USDC in your Unigox Wallet and shows the total and its breakdown before you approve.
See Pay suppliers in ChinaYour company works with crypto
Cryptocurrencies are on Verto's list of industries it neither onboards nor sends payments for, and it does not take on crypto exchanges. Unigox's company check asks a business in a licensable industry for its licence or registration, and the approved accounts hold stablecoins next to EUR, GBP and USD.
See Business accounts in EuropeYour platform pays out from stablecoins
Verto Atlas runs payouts and collections from Verto's fiat accounts. The Unigox Payments API funds payouts and receives collections in USDT or USDC, and a quote can be limited to payment businesses instead of individual P2P merchants.
See the Payments API
When to stay with Verto
You collect in African currencies locally
Verto opens local accounts in GBP, EUR, USD and three African currencies, including Kenyan shillings and South African rand, plus SWIFT accounts that collect in many more. Unigox company accounts are EUR, GBP and USD.
You convert between many fiat currencies
Verto quotes spot FX across a long list of developed and exotic currencies, runs OTC FX, and lets you book a conversion in advance before the money is in your wallet.
Your team spends by card
The Verto corporate card spends from Verto's currency wallets with no markup above the Visa rate and a 1.99% fee on non-G10 card payments. It has no limit on card users.
You want a price list before you sign up
Verto publishes its plans: a free plan, Lite at $50 and Emerging at $100 a month, each with its FX margins, collection fees and a $20 fee per SWIFT payment. Unigox shows the total of each China payment before you pay, and agrees account fees with each company.
VertoFX vs Unigox: China payments, accounts and API
| Topic | Verto | Unigox |
|---|---|---|
| What it is | VertoFX Ltd, based in London: business accounts, spot and OTC FX, corporate cards and the Verto Atlas API, aimed at businesses trading with emerging markets. | Supplier payments to China funded with USDT, USDC or local currency, company accounts with stablecoin balances, and a Payments API settled in USDT or USDC. |
| CNY to China | Only to businesses and for defined purposes: goods marked 'Purchase of Goods', services 'Purchase of Professional Services' or 'Professional Fee'. Other purposes need Verto support first, and unsupported cases can go as a cross-border USD payment. China is on Verto's restricted destination list: each payment is reviewed and documents are normally required. | CNY or USD to the supplier's bank account in mainland China, after the payer's identity check. |
| Hong Kong and Singapore | Hong Kong is on the same restricted list, with review and enhanced due diligence. Singapore is a supported destination. | USD to a supplier's bank account in Hong Kong or in Singapore. |
| Paying from USDT or USDC | Not offered. Verto exchanges fiat only and takes no cryptocurrency deposits or withdrawals. | Each supplier payment can be funded from USDT or USDC in your Unigox Wallet, or with local currency. |
| Crypto companies | Not onboarded. Cryptocurrencies are a non-supported industry, and crypto exchanges are not taken on. | A company in a licensable industry sends its licence or registration, or a legal note on why none is needed, during KYB. |
| Company accounts | Local accounts in GBP, EUR, USD and three African currencies, SWIFT accounts that collect in many more, and free transfers between Verto customers (V-Pay). | In the company's own name:
|
| API | Verto Atlas: a payments API, a multi-currency accounts API and an onboarding API for KYC and KYB, each with a sandbox. | Payments API: payouts to and collections from bank or mobile money accounts, funded and settled in USDT or USDC. A payment business connected to Unigox or an individual P2P merchant makes the local payment, unless you limit orders to payment businesses. |
| Checks before you start | Certificate of incorporation, shareholders with 25% or more and their photo IDs, and proof of business address from the last three months. Review usually takes 1 to 3 business days. Higher limits need a Tier 2 review. | China payments need the payer's identity check. Company accounts and the Payments API need KYB: registration, ownership, source of funds and intended use, with owners of 25% or more, directors and signatories verified. |
| Pricing | Published price list:
| Set per payment or per company:
|
| Regulation | VertoFX Ltd is an electronic money institution authorised by the FCA. Its Dubai branch is authorised by the DFSA, Verto SA is authorised by South Africa's FSCA (FSP-52835), and Verto Canada is registered with FINTRAC as a money services business. | Unigox works through two companies: UNIGOX NETWORK CORP. in Canada handles the local-money side and is registered with FINTRAC as a money services business and with the Bank of Canada as a payment service provider; UNIGOX NETWORK CORP. in Panama handles the crypto side, including wallets and escrow. |
UnigoxMove your China payments from Verto to Unigox
Pass the identity check
Create a Unigox account and complete the identity check. Supplier payments to China are available after it.
Copy the supplier from your Verto recipients
Take the bank details of the supplier you already pay through Verto. For a mainland account choose CNY or USD; for Hong Kong or Singapore, USD.
Pay from your stablecoin balance
Hold USDT or USDC in your Unigox Wallet, check the total and the price breakdown, and approve the payment.
Add accounts or the API after KYB
Start business onboarding at unigox.com/business and send the KYB documents. Our team then sets up the EUR, GBP and USD accounts or Payments API access agreed with you. Cards and fiat FX can stay on Verto.
VertoFX alternatives: your questions
Is there a VertoFX alternative for paying suppliers in China from USDT?
Yes. Unigox sends CNY or USD to a supplier's bank account in mainland China, or USD to one in Hong Kong or Singapore, and you fund it from USDT or USDC in your Unigox Wallet. Verto takes no cryptocurrency deposits, so a stablecoin balance cannot fund a Verto payment.
See Pay suppliers in ChinaWhich VertoFX alternative accepts companies that work with crypto?
Verto lists cryptocurrencies among the industries it does not onboard. Unigox asks a company in a licensable industry for its licence or registration during KYB, then opens accounts that hold stablecoins beside EUR, GBP and USD.
See Business accounts in EuropeIs there a VertoFX alternative with a payouts API funded in stablecoins?
Yes: the Unigox Payments API pays out to bank and mobile money accounts and collects through them, with USDT or USDC on both ends. Each quote shows the rate, the Unigox fee, your own fee and the total, and it can be limited to payment businesses.
See the Payments APIDoes Verto pay CNY to any supplier in China?
Verto's CNY guide allows CNY to China only to businesses and for defined purposes such as buying goods or professional services. Other purposes need its support team first, and unsupported cases can go as a USD payment. China is also on its restricted destination list, so payments are reviewed and documents are normally required.
How to pay Chinese suppliersWhat does Verto charge on its free plan?
On the free plan there is no monthly fee and local payments are free. FX costs 0.6% for developed-market currencies and 0.6% to 2% for exotic ones, a SWIFT payment costs $20, and collections in a non-local currency cost 0.5%.
Keep Verto for fiat, pay China invoices from USDT
Verto stays useful for African local accounts, FX and cards. Invoices you hold in USDT or USDC go through Unigox, which shows the total before you approve. Company accounts and the Payments API are set up after KYB.
VertoFX, Verto and other names and logos are trademarks of their respective owners. Unigox is not affiliated with, endorsed or sponsored by them. Information about other companies comes from public sources, mainly the companies' own websites, and each company can change its products and fees at any time.