Grey launches local currency deposits in Ghana, Kenya

Grey, a Y Combinator-backed platform, has launched local currency deposits in Ghana and Kenya, allowing users to fund their Grey accounts directly in Ghana — Ghanaian cedi and Kenya — Kenyan shilling via bank transfer and mobile money. This initiative aims to bridge the gap between local payment systems and global financial services, which has historically been fragmented in these markets. The move is part of Grey's strategy to build financial infrastructure for globally connected individuals and businesses in emerging markets, enhancing its presence in Ghana and Kenya, which are among its fastest-growing markets. Idorenyin Obong, CEO and Co-founder of Grey, emphasized that this removes barriers for users to move between local financial systems and the global economy. Grey operates as a regulated Money Services Business under FINTRAC in Canada and FinCEN in the United States.