Grey Adds Ghanaian Cedi and Kenyan Shilling Deposits as Demand for Cross-Border Finance Grows

July 2, 2026
By Mintesinot Nigussie

Grey, a Y Combinator-backed financial technology platform, has introduced local currency deposit services in Ghana and Kenya, allowing users to fund their accounts directly in Ghanaian Cedis and Kenyan Shillings through bank transfers and mobile money.

The expansion enables users in the two markets to connect domestic payment systems with international financial services without relying on multiple platforms or external intermediaries. Grey said the service is designed to simplify how individuals and businesses move money between local accounts and global financial networks.

The launch comes as digital payment ecosystems in Ghana and Kenya continue to expand. Ghana recorded more than GH¢3 trillion in mobile money transactions in 2024, while Kenya has developed one of the world’s most advanced mobile money markets, with around 90 percent of the population using mobile money services for payments, savings and credit access.

Despite the growth of domestic digital payments, users with international financial needs have often faced difficulties transferring funds from local systems into global platforms. Grey’s new service aims to address that gap by allowing customers to deposit local currencies directly into their Grey accounts.

“Cross-border payments should not begin with friction,” said Idorenyin Obong, Chief Executive Officer 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 move forms part of Grey’s wider strategy to build financial infrastructure for users in emerging markets as more individuals and businesses participate in international trade, remote work and global transactions.

Grey said it serves more than three million users across over 50 countries, providing access to multi-currency accounts in US dollars, pounds sterling and euros, international transfers to more than 170 destinations, and virtual cards for international spending.

The company operates as a regulated Money Services Business under the Financial Transactions and Reports Analysis Centre of Canada and the Financial Crimes Enforcement Network in the United States.

Source: FSX Business News