Nigerian Fintech Grey Expanded Payout Routes
The cross-border payment platform added support for four African nations to facilitate international transfers.
Updated on Sept. 23, 2026 in Startups
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Nigerian fintech startup Grey has officially launched new payout routes to Senegal, Ivory Coast, Cameroon, and Rwanda. The expansion allows users to send funds directly to recipients in these countries using local currencies.
Why it matters
This move strengthens financial connectivity for growing diasporas and integrates key regions into the platform's existing network. By enabling direct local currency payouts, the startup aims to capture a share of the significant remittance activity in these markets.
The startup now supports transfers to more than 170 destinations globally. The four newly added countries represent a combined remittance market flow of more than US$7 billion.
The players
Grey
Grey is a Nigerian-headquartered cross-border payment platform that enables users to manage multi-currency accounts and send money globally.
The details
Grey allows users to manage multi-currency accounts in USD, GBP, and EUR while providing access to virtual cards. Recipients in the new markets can now receive funds directly in Rwandan francs, Central African CFA francs, and West African CFA francs.
Timeline
September 23, 2026: Grey officially launched the new payout routes.
Market Landscape
This strategic expansion reflects a broader trend of fintech firms intensifying efforts to capture Africa's massive remittance market. By localizing payout options, Grey is positioning itself to compete more effectively against traditional money transfer operators across the continent.
Users with connections in these four countries can now initiate payments that reach recipients in local currencies, simplifying previously complex transfer processes. This change effectively lowers the barrier for sending remittances to Senegal, Ivory Coast, Cameroon, and Rwanda.
The takeaway
The addition of these markets simplifies cross-border payments for users who rely on stable, multi-currency account management. For those sending money internationally, the ability to settle in local currencies is a critical factor for reducing recipient transaction friction.
Further reading
Learn more about emerging companies in the Startups sector.
Source note: This article includes information reported by Disrupt Africa.
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