Grey, the Y Combinator-backed global payments platform, has expanded its services in Ghana and Kenya by introducing local currency deposits, allowing users to fund their accounts directly in Ghanaian Cedis (GHS) and Kenyan Shillings (KES) via bank transfers and mobile money.
The new feature aims to simplify the often fragmented process of moving money between local payment systems and global financial services. Users in both countries can now seamlessly top up their Grey accounts without relying on multiple platforms or intermediaries.
Ghana and Kenya rank among Grey’s fastest-growing markets, driven by rising participation in the global economy and the need for smoother cross-border financial solutions. The expansion comes as digital payments continue to surge in both nations. Ghana recorded over GH¢3 trillion in mobile money transactions in 2024, while Kenya maintains one of the world’s most advanced mobile money ecosystems, with approximately 90% of the population using mobile money for payments, savings, and credit.
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“Cross-border payments should not begin with friction,” said Idorenyin Obong, CEO and Co-founder of Grey. “Many users in Ghana and Kenya already rely on Grey to receive, hold, and move money globally, but funding their accounts often requires additional steps outside our platform. With local currency deposits, we are removing that barrier and giving users a simpler way to move between their local financial systems and the global economy.”
The launch forms part of Grey’s broader strategy to develop comprehensive financial infrastructure for globally connected individuals and businesses in emerging markets. The platform enables users to receive international payments, hold multi-currency accounts in USD, GBP, and EUR, send transfers to over 170 destinations, and spend internationally with virtual cards.
With more than 3 million users across over 50 countries, Grey continues to strengthen its position as a key player in simplifying global payments for emerging markets. The company operates as a regulated Money Services Business under FINTRAC in Canada and FinCEN in the United States.
