Grey Deepens Its Presence in Ghana and Kenya with Local Currency Deposits

In Ghana and Kenya, digital payments have become part of everyday life, but moving money from local payment systems into global financial services often remains fragmented. To bridge this gap, Grey, the Y Combinator-backed platform, has launched local currency deposits in Ghana and Kenya, enabling users to fund their Grey accounts directly in Ghanaian Cedis (GHS) and Kenyan Shillings (KES) via bank transfer and mobile money.

The launch gives users a simple and secure way to fund their Grey accounts in local currency, making it easier to access global financial services without relying on multiple platforms or intermediaries. Ghana and Kenya are among Grey’s fastest-growing markets, where increasing participation in the global economy continues to drive demand for financial services that simplify how individuals and businesses move between local and international financial systems.

This rollout also reflects the continued evolution of digital payments across both markets. Ghana recorded more than GH¢3 trillion in mobile money transactions in 2024 , while Kenya remains one of the world’s most mature mobile money markets, with around 90% of the population using mobile money for payments, savings, and access to credit. Despite this progress, individuals and businesses with global financial needs have often relied on multiple platforms, external transfers, or indirect funding methods to move money from their local accounts into services designed for international transactions.

“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 introduction of local currency deposits is part of Grey’s broader strategy to build a financial infrastructure for globally connected individuals and businesses in emerging markets. As customer needs evolve beyond receiving international payments to managing money seamlessly across borders, Grey continues to expand its platform with services that simplify every stage of the global financial journey.

With more than 3 million users across over 50 countries and payouts to more than 170 destinations, Grey continues to expand its global payments infrastructure for individuals and businesses in emerging markets. The platform also offers multi-currency accounts in USD, GBP, and EUR, supports international transfers to more than 170 destinations, and provides virtual cards for international spending. The company operates as a regulated Money Services Business under FINTRAC in Canada and FinCEN in the United States.