Grey
USD/GBP/EUR accounts for African freelancers.
- Who holds it
- A licensed crypto-asset custodian holds the assets on your behalf — MSB registrations (FinCEN US, FINTRAC Canada); accounts via licensed banking partners.
- The ledger
- The custodian’s books, reconciled against on-chain balances.
- If it fails
- Recovery hinges on the custodian’s solvency and how cleanly client assets are segregated.
Derived from Grey’s regulation type and custody — a class of protection, not a guarantee. Limits and eligibility vary by scheme, balance and jurisdiction; confirm before you rely on it. What happens if a neobank shuts down →
The facts
| Category | traditional · freelancers & creators |
| HQ | Lagos, NG |
| Founded | 2020 |
| Custody | Custodial |
| Regulation type | VASP / MSB / crypto licenses |
| License detail | MSB registrations (FinCEN US, FINTRAC Canada); accounts via licensed banking partners |
| Card | MC · Virtual USD cards |
| Stablecoins | No |
| KYC | Yes |
| Active regions | Africa |
| Countries | Nigeria, Kenya |
| Founders | Idorenyin Obong, Femi Aghedo |
| Funding | YC-backed |
Verified links: official site ↗ · terms ↗ · privacy ↗ · @grey_finance ↗
Common questions about Grey
What is Grey?
Grey is a fiat neobank built for freelancers & creators, headquartered in Lagos, NG and founded in 2020. Your money is held custodially, so Grey or its partner bank holds the balance and you hold a claim on it. It holds VASP / MSB / crypto licenses (MSB registrations (FinCEN US, FINTRAC Canada); accounts via licensed banking partners).
Does Grey have a card, and where can you use it?
It issues a Mastercard virtual usd cards. It is available in 2 countries, across Africa.
Does Grey require KYC?
Yes. Grey requires identity verification (KYC) to open an account, as a vasp / msb / crypto licenses.
Head-to-head
Peers
Wise · TymeBank · OPay · PalmPay · Bank Zero · Discovery Bank
Grey appears in
Neobanks operating under crypto and money-transmitter licenses (25) · Neobanks available in Africa (92) · Neobanks for freelancers and creators (15) · Neobanks that issue a Mastercard (150) · Neobanks in Nigeria (15)
Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.