Grey, a US-based cross-border payments company, has said its business-focused multi-currency payments platform processed $61.4 million in total payment volume (TPV) within four months of launch.
Grey Business enables startups and SMEs to open US Dollar (USD) corporate accounts, send and receive international payments, convert currencies, and transact using stablecoins such as USDC and USDT.
Businesses across the continent are increasingly using dollar-pegged digital assets such as USDC and USDT to navigate foreign exchange constraints, reduce transaction costs, and access faster settlement times.
According to blockchain analytics firm Chainalysis, stablecoins accounted for 43% of all crypto transaction volume in Sub-Saharan Africa in 2024, with businesses increasingly using them for international payments. The region received more than $205 billion in on-chain transactions between July 2024 and June 2025, representing a 52% year-on-year increase.
“We are four months in and already past $61 million in processed volume,” said Idorenyin Obong, chief executive officer and co-founder of Grey. “African businesses have spent years working around infrastructure that wasn’t built for them.”
