Grey Expands Cross-Border Payment Reach with New Payout Routes in Four African Markets

Nigerian fintech startup Grey is extending its reach across the continent by adding direct payout capabilities to Senegal, Ivory Coast, Cameroon, and Rwanda. This expansion allows individuals and businesses using Grey’s platform to send funds directly to recipients in these countries, supporting a total remittance flow of over US$7 billion annually.

Grey offers multi-currency accounts with support for USD, GBP, and EUR, enabling users to manage finances across borders and make transfers to more than 170 destinations. The addition of local currency payouts—including Rwandan francs (RWF), Central African CFA francs (XAF), and West African CFA francs (XOF)—simplifies transactions for those sending money home or supporting family abroad.

“These four markets have strong diaspora connections, with people sending funds to support families, education, healthcare, and businesses,” explained Grey CEO Idorenyin Obong. “We’re making it easier for individuals and businesses to send money in the recipient’s local currency, strengthening those existing relationships.” The company’s expansion aims to meet the growing demand from migrants, diaspora communities, travelers, and businesses operating across borders.

With its Y Combinator backing and focus on simplifying cross-border payments, Grey is positioning itself as a key player in Africa’s rapidly evolving fintech landscape.