Grey hits $61.4M in 4 months as stablecoins reshape African payments

Grey, a US-based cross-border payments company, processed $61.4 million in total payment volume within four months of launching its business-focused multi-currency platform. The service allows startups and SMEs to open USD corporate accounts, send/receive international payments, and transact using stablecoins like USDC and USDT.

Stablecoins now account for 43% of all crypto transaction volume in Sub-Saharan Africa, with the region receiving more than $205 billion in on-chain transactions between July 2024 and June 2025—a 52% year-on-year increase. Nigeria leads on transaction count, while Western Europe and Middle East lead on value.

"We built for the use case where businesses use stablecoins as their primary cross-border rail for treasury management, supplier payments, and trade settlements," said Idorenyin Obong, CEO of Grey. Two major patterns are emerging: businesses routing USD collections into Grey as a treasury layer, and converting between USD and stablecoins for cross-border payments within a single account. As traditional banking infrastructure struggles to meet Africa's international payment needs, will your business explore stablecoin solutions for cross-border transactions?

SOURCE: https://techcabal.com/2026/06/05/grey-business-processed-61-4-million/