Grey Targets $7 Billion Remittance Flows With New Payout Routes to Senegal, Côte d’Ivoire, Cameroon and Rwanda

Users can now send money directly to local bank accounts and mobile money wallets across four new African markets, using their existing Grey balances.

SAN FRANCISCO, CA | SEPTEMBER 17, 2026 – Senegal, Cameroon, Côte d’Ivoire and Rwanda are major recipients of remittances from diaspora communities around the world. Yet sending money across these markets can still come with high fees, long processing times and limited payout options. Grey, the Y Combinator-backed cross-border payment platform is addressing this gap by enabling direct payout to Senegal, Côte d’Ivoire, Cameroon and Rwanda.

With this new payout, migrants, diaspora communities, as well as individuals and businesses can now send payments directly to recipients in these countries. Users can now send funds in the recipient’s local currency, including Rwandan francs (RWF), Central African CFA francs (XAF), and West African CFA francs (XOF).

In 2025, Senegal’s diaspora sent home an estimated $3.6 billion, equivalent to around 10% of the country’s GDP. Rwanda received $640 million in remittances in the same year, while Cameroon’s diaspora remitted 632 billion CFA francs in 2024, yet cross-border payments remain expensive or unavailable for Cameroonians in the diaspora. Côte d’Ivoire received an estimated $1.77 billion in annual remittances in 2024, with inflows growing significantly over the past decade. Together, these four markets account for more than $7 billion in remittance flows. Grey’s expansion is supporting these existing financial connections while making cross-border payments more accessible for the people and businesses that depend on them.

Grey brings more predictability to these corridors with flat fees across its new payout routes. A $500 international transfer can attract fees of up to $30 in some of these corridors, creating a high cost for people and businesses that make regular payments across borders. Grey flat fees eliminate this problem, transfers to Rwanda via bank accounts cost $1.30, while mobile money transfers to Cameroon cost $1.80. Bank transfers to Senegal cost $2, while mobile money transfers cost $3. Bank transfers to Côte d’Ivoire cost $2, while mobile money transfers cost $1.80. Bank transfers are settled the same business day for eligible transfers, while mobile money transfers are settled almost instantly.

“Senegal, Côte d’Ivoire, Cameroon and Rwanda have growing diasporas that send money home to support families, education, healthcare, and fund businesses. At the same time, people are travelling to Rwanda for vacations, to visit friends and relatives, for business and conferences. Yet cross-border payment has not always matched the strength of these relationships. With these new payouts, we’re making it easier for individuals and businesses to send money to these countries in their local currencies.” said Idorenyin Obong, CEO and Co-founder of Grey.

Users can now send payments to Senegal, Cameroon, Côte d’Ivoire, and Rwanda through bank transfers and mobile money from Grey personal and Grey Business accounts. Grey supports transfers to all operating banks in Rwanda. Users can send XAF directly to mobile money wallets in Cameroon. Transfers can be funded from existing USD, EUR, GBP, and stablecoin balances eliminating the need to maintain separate currencies for different destinations.

The launch reflects Grey’s broader vision of building a financial platform that moves with the needs of people and businesses operating across borders. As customers work, trade, support families and build businesses across multiple markets, Grey continues to expand its payment infrastructure to more destinations. The addition of Senegal, Côte d’Ivoire, Cameroon and Rwanda payouts brings more African markets into this network, making it easier for customers to manage cross-border payments from one platform.

Grey supports payments to 170+ countries, providing services including foreign currency accounts, international transfers, currency conversion and payment solutions for individuals and businesses in emerging markets. The company has grown to serve more than 3 million users globally. Grey is regulated as a Money Services Business by FINTRAC in Canada and FinCEN in the United States.

Download the Grey store on iOS or Android, or visit grey.co to start sending payments to Senegal, Côte d’Ivoire, Cameroon and Rwanda.