It looks like the new iPhone 5 on Verizon Wireless in the US is GSM unlocked, the guys over at iDownload Blog managed to test this out with an AT&T microSIM card which was cut down to fit the iPhone 5.
Verizon has confirmed that the iPhone 5 on their network is GSM unlocked, which means that you will be able to use the handset with another SIM card even when you are still under contract with Verizon.
This means that you would be able to use almost any Nano SIM card with your Verizon iPhone 5, you can find out more details over at iDownload Blog.
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