Verso is built for the regulated financial service industry and community-governed by its participants, which comprises financial service providers and regulated financial institutions. It uses proprietary smart contracts to facilitate the distribution and product-specific money flow between service providers, financial institutions, and their customers.

As a result, there is reduced reliance on intermediaries, significantly lower distribution costs, and higher efficiency. We are building Verso so that financial products can conveniently be offered to people across the world and within the existing relationships they have with their e-wallets or their bank.

Verso will rest on Avalanche. With Avalanche, Verso will be able to dramatically reduce the cost of network fees by a factor of several thousand. Taking a $5 - $100 microloan will not cost $20 - $40 in-network fees this way, but instead only a few cents, at most.