Grey launches local currency deposits in Ghana and Kenya
Grey has launched local currency deposit functionality in Ghana (GHS) and Kenya, enabling users to hold and transact in domestic currencies directly through its platform. The move represents a direct fintech product expansion into local currency infrastructure, with immediate implications for competitors and users in both markets.
Grey: the first step that was always missing
Ghana processed over GH¢3 trillion in mobile money last year. But until now, Grey users had to leave the platform entirely just to fund their accounts in cedis — a friction that existed at the very beginning of every transaction.
Removing that first step matters more than it sounds. Grey already lets people hold dollars, pounds and euros, send money globally, and spend abroad. The missing piece was letting someone fund all of that directly from MTN MoMo or a local bank transfer, without the extra hop.
For the 3 million people Grey serves — many of them freelancers and small businesses connecting to global clients — this closes the gap between where their money starts and where the platform begins.
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