Grey Targets $400B+ Asia-LatAm Market With New Currency Payouts
ℹ️ Source: Grey
Grey’s company logo
UNITED STATES – 21 MAY 2026 – Individuals and Businesses moving money between Bangladesh and Malaysia lose up to 7.5% of their earnings to conversion fees, with transaction charges reaching $9. In Uruguay, limited payment infrastructure keeps cross-border costs elevated and settlement times slow.
Grey, the Y Combinator-backed cross-border payments platform, is addressing these inefficiencies by launching direct payouts in Bangladeshi Taka (BDT), Malaysian Ringgit (MYR), and Uruguayan Peso (UYU). The expansion targets high-fee payment corridors across Asia and Latin America, where the cross-border payments market exceeds $400 billion annually.
The fintech entered South and Southeast Asia and Latin America in July 2024. Since then, Grey has tripled its user base from 1 million to nearly 3 million across 50+ countries and now supports transfers to 170 destinations globally.
“In many of these corridors, sending money across borders is still slower and more expensive than it should be,” said Idorenyin Obong, Grey’s CEO and co-founder. “Adding support for these currencies is one step toward making those transactions more straightforward and predictable for users.”
Grey has introduced fixed, transparent pricing: $0.55 for Malaysian Ringgit, $1.20 for Bangladeshi Taka, and $1.50 for Uruguayan Peso. This approach contrasts with traditional providers that embed conversion costs in exchange rate markups.
Joseph Femi Aghedo, Grey’s COO and co-founder, said the launches required extensive work across payment partners, compliance systems, and settlement infrastructure. “We’ve focused on ensuring these corridors are not just available but also efficient and cost-effective to operate,” he said.
Previously, users in these markets could receive funds only in stablecoins or foreign currencies, which required additional conversion steps. Grey added USDC payout support in 2024, allowing users to send stablecoins directly to external wallets via Ethereum or TRON networks.
The company’s initial Asia and Latin America expansion targeted gaps in financial inclusion, particularly in Latin America, where approximately 70% of the population remains unbanked. Grey also hired local talent in both regions to understand market nuances and tailor services to specific needs.
Grey continues to expand its global payments network to meet growing demand as more people and businesses operate across borders. The company is registered as a Money Services Business with FINTRAC in Canada and with the Financial Crimes Enforcement Network in the United States.
The platform enables individuals and businesses to access multi-currency accounts in USD, GBP, and EUR, supports transfers to more than 170 destinations, and provides virtual cards for international spending. Grey serves customers across Asia, Latin America, Europe, and other global markets, focusing on simplifying cross-border access to finance.
Users can now send funds directly in Bangladeshi Taka, Malaysian Ringgit, and Uruguayan Peso at www.grey.co or by downloading the app from the App Store or Google Play Store.
About Grey:
Grey is at the forefront of providing secure, convenient global banking solutions that meet the needs of customers and businesses. Grey holds a Money Service Business license from FINTRAC in Canada and FinCEN in the USA, and our primary focus is on emerging markets. Our range of services enables individuals and businesses to easily own and manage multi-currency accounts. This includes currency exchange, sending and receiving payments in over 170 countries, and access to virtual cards.
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