Grey has officially launched Grey Business, a comprehensive multicurrency payments platform designed to eliminate the historical barriers African startups and SMEs face when operating globally.
This move marks a significant evolution for the company, shifting from a focus on individual freelancers to providing foundational financial infrastructure for formal business structures across the continent.
The platform addresses a critical pain point in the African business ecosystem: the friction of cross-border transactions.
Historically, African firms have struggled with slow settlements, hidden fees, and the immense difficulty of opening foreign bank accounts from within the continent.
Grey Business solves this by allowing companies to open and operate corporate accounts in major global currencies including USD, GBP, and EUR.
Each account is equipped with unique IBAN, routing, and SWIFT details, enabling a startup in a city like Lagos or Nairobi to receive international funding or pay global vendors with the same ease as making a local transfer.
Beyond traditional banking, the platform integrates modern financial tools to give businesses greater flexibility and control over their liquidity.
It supports instant currency conversion at real-time exchange rates and enables transactions using USDC and USDT stablecoins.
This allows businesses to bypass the volatility and delays often associated with traditional banking corridors in emerging markets.
Additionally, Grey Business includes a card management system where companies can issue unlimited virtual USD cards for their teams.
These cards simplify the management of digital ad spend and SaaS subscriptions, allowing for custom spending limits and instant controls to prevent unauthorized expenses.
Security and regulatory compliance are central to the new offering. Grey operates under the oversight of FinCEN in the United States and FINTRAC in Canada, ensuring that every corporate account undergoes rigorous Know Your Business (KYB) checks.
By combining high-level compliance with a user-friendly dashboard for invoicing and expense tracking, Grey Business aims to empower African entrepreneurs to scale internationally without the administrative burden of traditional global banking.
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Image Credit: Nairametrics
Source: Nairametrics
