Grey moves into B2B payments with multi-currency platform aimed at African startups

After building a base of nearly three million individual users, the fintech is now targeting small businesses that need corporate dollar accounts and cross-border transfers without the usual friction.

Idorenyin Obong, CEO and Co-founder of Grey.

Grey, a cross-border payments company serving users across Africa and other emerging markets, has launched Grey Business, a corporate payments platform that allows startups and SMEs to open USD accounts, send and receive international transfers, and convert currencies at live exchange rates. The product also supports stablecoin transactions in USDC and USDT.

The platform was unveiled on February 10 at a side event during the Africa Tech Summit in Nairobi, co-hosted with Paystack and Antler, where the company's founders demonstrated the product live.

Grey Business is designed to address a set of constraints that have long complicated international operations for African companies: slow settlement times, opaque fees, and limited access to foreign currency accounts. More than 1,000 businesses joined a waiting list during the beta period ahead of the public launch.

"We've seen too many businesses lose time and money waiting for payments to clear," said Idorenyin Obong, CEO and co-founder of Grey. "Grey Business was built from those stories. We want to give African companies the freedom to grow without borders."

The launch marks Grey's formal entry into the business-to-business segment, extending a platform that has until now focused on individuals and remote workers. The company currently serves close to three million users in 70 countries and supports transfers to more than 170 destinations. It holds regulatory licences with FinCEN in the United States and FINTRAC in Canada.

The timing reflects broader momentum in African cross-border payments. Industry projections estimate the market will surpass one trillion dollars by 2035, though foreign exchange inefficiencies and high remittance costs remain significant obstacles for smaller operators trying to scale internationally.