Cross-border payments company Grey has advocated for a streamlined financial ecosystem that enables African businesses to settle supplier transactions across the continent without routing funds through the US dollar.

Speaking on the sidelines of the Moonshot by TechCabal 2026 conference in Lagos, Grey’s Co-founder and Chief Executive Officer, Idorenyin Obong, highlighted that the company has developed direct currency conversion routes to eliminate unnecessary transaction steps and combat persistent foreign exchange (FX) liquidity challenges.

Grey served as the headline sponsor for the two-day technology event held at the National Theatre, Lagos, on October 28 and 29.

Obong pointed out that payment reliability and FX liquidity remain major bottlenecks for international trade.

Illustrating the inefficiency of traditional routing, he noted that a Nigerian business paying a Kenyan supplier would typically be forced to convert naira into US dollars before exchanging it for Kenyan shillings.

"Most times, if you’re trading within Africa, there’s always some form of intermediary currency. We’ve built out these currency pairs, these exotic currency pairs, such that you never have to go in between to the USD," Obong explained.

Supported by its infrastructure, customers in Nigeria, Kenya, and Ghana can seamlessly send, receive, and settle funds in multiple currencies in real-time. The platform has also expanded its payout capabilities to China, enabling local businesses to pay suppliers directly in Chinese yuan.

ID