Y Combinator-backed cross-border payments startup Grey has launched support for Morocco and Egypt, enabling users in the country to send and receive international payments with greater speed and convenience. Grey targets North Africa's $64 billion annual remittance market with instant local currency payouts.

The expansion allows users in Morocco and Egypt to receive international payments in local currency within minutes. It targets thousands of students, freelancers, and remote workers who currently face week-long delays and fees of up to 7% through traditional banks.

Remittances from Moroccans abroad hit a record of $12.8 billion in 2024, with Egypt recording $36.5 billion in international remittances between 2024 and 2025. Yet, most recipients still endure the same outdated banking infrastructure that has dominated the region for decades.

"North Africa represents a massive untapped opportunity," said Idorenyin Obong, CEO of Grey. "We're seeing incredible demand from users in Casablanca and Cairo who are tired of losing money to outdated payment systems. The region is ready for modern financial infrastructure."

He added, "Every week we hear from developers, designers, and entrepreneurs across North Africa building amazing businesses but getting held back by their banks. We're here to change that and to give them the same financial tools that other regions already have access to."