Latest news

Grey launches USD solution to cut FX & transfer costs


Cross-border payments fintech Grey has expanded its business banking offering with the launch of USD corporate accounts, bulk payment capabilities and USDC stablecoin support, in a move aimed at reducing foreign exchange costs and settlement delays for businesses operating internationally.

The company said the new features allow businesses to receive payments from global clients, manage high-volume cross-border transactions and make payouts to more than 170 countries within minutes from a single platform.

The PUNCH reports that Grey holds a Money Service Business licence from FINTRAC in Canada and FinCEN in the USA, with a primary focus on emerging markets.

International payments remain costly and slow for many firms in emerging markets. Data from the World Bank shows that global remittance transfers typically attract fees of between six per cent and seven per cent, while settlement can take several days due to intermediary banks and foreign exchange conversion processes.

Businesses also face limited access to foreign currency accounts, unpredictable charges and poor exchange-rate transparency, constraints that can restrict cash flow and growth.

Grey says its new USD banking features are designed to address these pain points by providing transparent pricing, faster settlement and direct access to dollar-denominated accounts alongside stablecoin rails.

Grey Co-founder and Chief Executive Idorenyin Obong said the initiative aims to close gaps in global banking access for businesses in high-growth markets.

“Businesses may operate without borders today, but access to reliable global banking remains uneven, particularly for companies in high-growth markets. We are closing that gap and enabling businesses to move money faster, with greater transparency and control, wherever their clients or partners are based,” he said.

“When payments are delayed or costs are unpredictable, growth stalls,” added Chief Operating Officer and Co-founder of Grey, Joseph Aghedo. “Grey eliminates those friction points, giving businesses a faster, simpler way to manage payroll, supplier payments, and partner payouts across borders. Adding USD and stablecoin capabilities makes these benefits accessible to even more customers.”

Founded in Africa in 2020, Grey operates across key markets including the United States, the United Kingdom and Europe and has recently expanded into Latin America and Southeast Asia.

The company’s broader product suite includes multi-currency accounts, virtual USD cards, expense management tools and low-cost international transfers targeted at digital-first businesses and remote professionals.

Tags :

Related Posts

Must Read

Popular Posts

The Battle for Africa

Rivals old and new are bracing themselves for another standoff on the African continent. By Vadim Samodurov The attack by Tuareg militants and al-Qaeda-affiliated JNIM group (Jama’a Nusrat ul-Islam wa al-Muslimin) against Mali’s military and Russia’s forces deployed in the country that happened on July 27, 2024 once again turned the spotlight on the activities...

I apologise for saying no heaven without tithe – Adeboye

The General Overseer of the Redeemed Christian Church of God, Pastor Enoch Adeboye, has apologised for saying that Christians who don’t pay tithe might not make it to heaven. Adeboye who had previously said that paying tithe was one of the prerequisites for going to heaven, apologised for the comment while addressing his congregation Thursday...

Protesters storm Rivers electoral commission, insist election must hold

Angry protesters on Friday stormed the office of the Rivers State Independent Electoral Commission, singing and chanting ‘Election must hold’. They defied the heavy rainfall spreading canopies, while singing and drumming, with one side of the road blocked. The protest came after the Rivers State governor stormed the RSIEC in the early hours of Friday...

Man who asked Tinubu to resign admitted in psychiatric hospital

The Adamawa State Police Command has disclosed that the 30-year-old Abdullahi Mohammed who climbed a 33 kv high tension electricity pole in Mayo-Belwa last Friday has been admitted at the Yola Psychiatric hospital for mental examination. The Police Public Relations Officer of the command SP Suleiman Nguroje, told Arewa PUNCH on Friday in an exclusive...