Grey and Clear Junction join forces to offer faster, more efficient, cost-effective payment solutions globally for digital nomads

Grey (www.Grey.co), one of the startups in Y-Combinator’s Winter 2022 batch, is at the forefront of providing secure and convenient global banking solutions to meet the needs of customers in emerging markets. Grey’s primary focus is emerging markets, and the company has created a range of products that enable individuals to own and manage multi-currency accounts, conduct real-time money transfers to over 80 countries, and enjoy the convenience of virtual cards for global spending.

As part of Grey’s mission to make it easier for remote workers and location-independent individuals to live and work in the modern world, it has partnered with Clear Junction Limited, a global payments solutions giant. This partnership allows Grey’s users to receive bank transfers from over 40 countries via Clear Junction's network, making their remittances much faster compared to traditional bank offerings.

Established in 2016 and fully licensed by the Financial Conduct Authority, Clear Junction offers a wide range of payment solutions for financial institutions, such as Grey, to access correspondent accounts, enabling the collection of payments from senders. It helps businesses realize their growth ambitions by giving them access to local payment solutions on a global scale.

For partners like Grey, Clear Junction effectively resolves issues arising from processing payments across borders, such as high foreign exchange fees and transaction costs, lengthy settlement times, and a lack of multi-country payment options, which can hinder business growth.

Clear Junction’s solutions are underpinned by continuous risk management processes and a safe and secure delivery methodology tailored to Grey’s specific requirements. The solution offered by Clear Junction adds transparency to the process, eliminating cash from the equation and focusing solely on bank transfers. Thus, Grey’s customers can send and receive funds across borders effortlessly and safely, knowing that transactions adhere to regulatory compliance.

Since its inception in 2020, Grey has established itself as a trusted product for the growing global remote workforce. Styling itself as doing “more than remittance,” Grey is committed to improving the interconnectivity of the evolving gig economy.

Founded by Idorenyin Obong (https://apo-opa.co/3WCBVCr) and Joseph Femi Aghedo (https://apo-opa.co/42uUlsB), Grey has surpassed its one million users mark and has witnessed significant growth since securing $2 million in seed funding in March 2022. The YC-backed fintech has since established global partnerships with several companies, including Cellulant, Moringa School, and, most recently, Clear Junction Limited.

“The foundation of what we do at Grey is to demystify access for anyone who needs access to global banking, no matter where they are,” said Idorenyin Obong, CEO and co-founder of Grey. “Grey onboards users across 80 countries, including historically excluded regions like Brazil, the Philippines, South Africa, and Indonesia. We’re thrilled about this partnership with Clear Junction Limited because, as you know, finding the right partners is crucial for any successful company. Our primary focus is emerging markets, and our collaboration with Clear Junction Limited enables us to offer to more people who need it.”

Joseph Femi Aghedo, Grey’s co-founder and COO, added, “Something important to every business is stability, and after months of testing and iteration, we are confident that Clear Junction Limited can offer the reliability and efficiency we need, especially for a business of our scale that serves people in over eighty countries.”

Dima Kats, CEO and Co-Founder of Clear Junction, commented, “We are delighted to partner with Grey and support its mission to deliver safe and reliable global banking services to emerging markets. At Clear Junction, we focus on simplifying global banking through our proprietary technology, making this collaboration ideal. With this partnership, Grey will streamline transaction management, reduce international fees, and lower operational costs. This will enable the company tо focus оn growth, expand its reach, and seize new opportunities to empower the modern global workforce.”

As the digital economy grows globally, there’s an increasing demand for efficient and accessible financial solutions for digital nomads. With Clear Junction Limited’s established infrastructure and Grey’s growing user base across Africa, Europe, and Southeast Asia, this partnership extends its reach globally. It is poised to redefine the payment landscape for the ever-evolving global workforce.

Distributed by APO Group on behalf of Grey.

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Image Caption (1): Grey and Clear Junction Partner to Improve Global Payments for Location-Independent Individuals

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Image Caption (2): Idorenyin Obong, CEO and co-founder of Grey

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Image Caption (3): Joseph Femi Aghedo, Grey’s co-founder and COO

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oyinda@grey.co

About Grey:
Grey is at the forefront of providing secure and convenient global banking solutions to meet the needs of customers and businesses. With a Money Service Business license from FINTRAC in Canada and FinCEN in the USA, Grey, whose primary focus is emerging markets, has created a range of services that enable individuals and businesses to own and manage their foreign bank accounts easily, including currency exchange and access to virtual cards. Grey Inc., a company duly incorporated under the laws of Delaware, USA, is the provider of Grey’s services.

For more information about Grey, visit www.Grey.co.