Grey, a cross-border payments provider, announced on Monday the expansion of its business banking platform to include US dollar business accounts, mass payments, and support for the USDC stablecoin.
This expansion allows companies to receive international payments, manage cross-border transactions, and reduce the costs associated with international banking. Through Grey, companies can open a US dollar business account, manage payments from international clients, and make payouts to over 170 countries, including mass payments.
According to the World Bank, international money transfers typically incur an average fee of 6-7% of the amount sent, with settlements often taking several days. Businesses in emerging markets face limited access to foreign currency accounts, unpredictable intermediary fees, and poor exchange rate visibility.
Grey addresses these challenges by offering transparent pricing, faster settlement times, and access to US dollar business accounts with USDC support.
"Today, companies can operate without borders, but access to reliable global banking remains uneven, especially for companies in high-growth markets," said Idoreniyin Obong, co-founder and CEO of Grey. "We're closing this gap and enabling companies to move money faster, with greater transparency and control, no matter where their customers or partners are."
"When payments are delayed or expenses are unpredictable, growth stalls," added Joseph Femi Agedo, COO and co-founder of Grey. "Grey eliminates these friction points, giving companies a faster and easier way to manage payroll, supplier payments, and partner disbursements across borders. The addition of US dollar and stablecoin capabilities makes these benefits accessible to even more customers."
Founded in Africa in 2020, Grey has a presence in the United States, the United Kingdom, and Europe and recently expanded into Latin America and Southeast Asia.
Grey's offerings include multi-currency accounts, low-cost international money transfers, a virtual US dollar card, expense management tools, and security measures. The company is licensed as a Money Service Business by FINTRAC in Canada and FinCEN in the US.