Grey now lets users in Ghana and Kenya fund accounts in GHS and KES via bank transfer and mobile money, reducing friction for cross-border payments.
Grey says users in Ghana and Kenya can now add money to their accounts using local currency deposits, instead of relying on intermediaries or extra steps outside the platform.
Local currency deposits mean customers can move money from domestic rails into Grey directly. Domestic rails are the everyday payment systems people already use, like bank transfers and mobile money (wallets linked to a phone number).
The company says Ghana and Kenya are among its fastest-growing markets. It links the new feature to rising demand for simpler cross-border payments and multi-currency accounts.
Grey also pointed to strong digital payments usage in both countries. Ghana processed more than GH¢3 trillion in mobile money transactions in 2024, while Kenya has about 90% mobile money adoption for payments, savings, and credit.
Idorenyin Obong, CEO and co-founder, said many users already receive, hold, and move money globally with Grey, but funding accounts often required extra steps. The company says the new deposit feature removes that friction.
Grey says it now serves more than 3 million users across over 50 countries. It supports payouts to more than 170 destinations, and offers multi-currency accounts in USD, GBP, and EUR, plus international transfers and virtual cards for online spending.
For freelancers, remote workers, and SMEs that earn or pay internationally, the hardest part is often getting money into the right account cheaply and quickly. By adding GHS and KES deposits, Grey is trying to shorten that path.
It also shows how African fintech growth is shifting from “receive international payments” to broader money management. That includes local top-ups, FX (currency exchange), transfers, and cards that work across borders.
Grey says it is regulated as a Money Services Business by FINTRAC in Canada and FinCEN in the US, which matters for compliance and partner access as it expands payment rails in more markets.
Primary Source: ITnewsafrica
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