Lagos: TECHz – News Desk
Ethiopia is home to over 130 million people with a growing community of freelancers, exporters, small businesses, and diaspora-linked enterprises. Thailand is becoming a destination for creators and tourists. Argentina has one of Latin America’s strongest freelance communities, with professionals earning from clients abroad, while Chile is emerging as a hub for startups and businesses expanding to the region. Despite these growth stories, cross-border payments remain slow and unpredictable. Grey, the Y Combinator-backed cross-border payments platform, has added the Argentine Peso, Chilean Peso, Thai Baht and Ethiopian Birr to its payout network, expanding local currency access for users in all four markets.
Idorenyin Obong, CEO and Co-founder, Grey: “Some of the strongest signals for where Grey should go next come directly from our users. At global events, in community conversations, and through direct feedback, users and prospective customers have repeatedly asked when Grey would fully support these countries. This payout launch is a direct response to that demand. Grey has always been about removing the barriers that make it harder for people to participate in the global economy, and these new currencies bring us closer to that vision.”
Each of the four markets represents a different but important part of the global financial access story.
Ethiopia is one of Africa’s fastest-growing digital economies, with the GSMA projecting that the country’s digital economy could add over ETB 1.3 trillion to GDP by 2028. Mobile money accounts have grown from under 1 million in 2020 to more than 128.5 million by the end of 2024, driven by a young population, rising mobile internet penetration, and growing demand for digital financial access. Yet cross-border infrastructure has not kept pace, and many users have signed up on various remittance platforms only to find they cannot withdraw funds locally. Support for Ethiopian Birr payouts closes that gap, giving users a direct way to receive international income in their own currency.
In Latin America, Argentina and Chile represent two important markets for global work, entrepreneurship and regional commerce. Argentina has a strong base of freelancers, remote workers and internationally connected professionals who work with global clients and companies. Chile, known for its stable business environment and active startup ecosystem, continues to attract entrepreneurs and businesses building across the region. With support for the Argentine Peso and Chilean Peso, Grey is making it easier for users in both markets to connect international income with local financial needs.
Thailand adds a different dimension to the launch. As one of the world’s leading travel destinations and a growing hub for remote workers and digital nomads, Thailand is increasingly central to the way people live and work internationally. For Grey users travelling through or based in Thailand, Thai Baht payouts support everyday financial needs such as accommodation, local services, business payments and personal expenses.
Grey started out as a platform for receiving international payments in 2020. This move reflects how both the platform and its users have grown. They are not just receiving money across borders, they are living, working, exchanging and spending across them. As more people relocate, travel, work remotely, build international businesses and support families across countries, the need for simple, reliable and localised financial access keeps growing.
In addition to enabling payouts in Argentine Pesos (ARS), Chilean Pesos (CLP), Ethiopian Birr (ETB), and Thai Baht (THB), the platform provides individuals and businesses with multi-currency accounts in USD, GBP, and EUR. It also supports transfers to over 170 destinations worldwide and offers virtual cards for seamless international spending.
Grey now serves close to 3 million users, while supporting payouts across 55 countries. The platform is regulated as a Money Services Business under FINTRAC in Canada and FinCEN in the United States.
Users can send payments to freelancers, families, businesses and individuals in Argentina, Chile, Thailand and Ethiopia directly in local currency by downloading the Grey app on the App Store or Google Play Store.
