‘Grey' fintech offering Foreign Bank Accounts and Instant Money Transfer expands to Kenya
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Loading... - Lulu Odira
- 06 Jun 2022
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Grey has announced its expansion into the East African market starting with Kenya where it is partnering with Cellulant. Grey‘s products are now available to Kenyan residents. These include foreign bank accounts, instant currency exchange and international money transfer services.
The Y-combinator backed fintech startup will be looking to address the numerous difficulties of sending and receiving money abroad. Its unique International money transfer service enables its users send and receive international payments without restrictions and quickly.
Cellulant will be the company’s payments processor powering its payouts to thousands of Grey’s customers.
At the launch ceremony in Nairobi, Grey showcased how users could create virtual foreign USD, GBP, or EUR bank accounts. Users are then able to receive payments and convert directly to the Kenyan shilling or the Nigerian Naira.
The instant currency exchange service offered by Grey enables its customers to have virtual international bank accounts for free, helping small businesses, freelancers, remote workers, and content creators in Kenya to enjoy a seamless payment process.
This could be the answer to PayPal who’ve for long neglected the complaints raised by freelancers and content creators in the country.
Currently, thousands of young Kenyans access work opportunities through digital platforms in a rapidly growing gig economy. The online gig economy is fuelled by a burgeoning young workforce, internet and smartphone penetration, and mobile money proliferation. Read More…
