SAN FRANCISCO, CA – 06/10/2025 – (SeaPRwire) – In a bold move that signals the next chapter in cross-border fintech innovation, Y Combinator-backed startup Grey has announced the official expansion of its services to India, introducing near-instant rupee payouts for individuals earning from international sources. The expansion marks a strategic step for Grey, a U.S.-licensed global financial technology company serving more than 2 million users across over 50 countries, and comes at a time when India’s digital economy is rapidly integrating into the global labor and remittance ecosystem.
Grey’s entry into the Indian market represents more than just another fintech product launch — it represents a shift in how Indians abroad and at home manage, receive, and grow their cross-border income. With this launch, freelancers, digital entrepreneurs, overseas students, and remote workers can now seamlessly access USD, EUR, and GBP accounts, convert funds into INR instantly, and transact as easily as their counterparts in the United States or Europe.
Addressing a $125 Billion Problem in the World’s Remittance Capital
India stands at the forefront of the global remittance economy, processing more than $125 billion in annual international inflows — more than any other country. Yet, despite this scale, the system remains slow, costly, and outdated. Many Indians earning from abroad still face 3–5 business days of waiting and 3–7% in hidden transaction fees before they can access their funds.
“Traditional banks treat international payments like it’s still 1995,” remarked Idorenyin Obong, CEO and Co-Founder of Grey, who recently visited Bengaluru to meet with users. “One freelance designer I spoke with told me he was losing ₹15,000 a month to conversion fees and processing delays. That’s not just inconvenient — it’s economically punishing.”
Grey’s new system directly addresses these inefficiencies by giving Indian users access to real foreign banking details — U.S., U.K., and European IBANs — so that clients overseas can pay them as if they were domestic employees. Once the payment lands, Grey instantly converts the funds into rupees, removing waiting periods and costly intermediaries.
Empowering India’s Global Workforce
India’s digital workforce is among the most globally connected in the world. With more than 15 million freelancers and 3 million remote professionals employed by foreign companies, the need for frictionless global payments has never been greater. Despite this, most still depend on outdated international transfer systems and intermediary banks that add days of delay and erode earnings through hidden costs.
Grey’s platform changes this equation by providing what Obong calls “true financial equality” — granting Indian workers access to the same global infrastructure available in the U.S. and Europe. “We’re not just another remittance app,” he explained. “We’re building a borderless financial ecosystem that empowers Indians to participate fully in the global economy — whether they’re coding for clients in London, designing for startups in New York, or studying in Berlin.”
Beyond individual freelancers, Grey also caters to startups, SMEs, and digital-first businesses that need to pay global talent or receive international revenue. The platform offers virtual USD debit cards, cryptocurrency payout options (including USDC), and compliance with U.S. and international financial regulations, giving users a secure and transparent way to handle cross-border income.
Navigating India’s Regulatory and Market Complexity
The Indian fintech landscape is notoriously complex, with strict compliance requirements and layered partnerships between banks, regulators, and payment gateways. Many global cross-border platforms have struggled to operate efficiently in this environment. Grey, however, brings both technological and regulatory agility to the market.
The company’s decision to enter India was preceded by months of local research, customer testing, and collaboration with payment partners to ensure adherence to India’s financial ecosystem standards. By combining its AI-driven transaction engine with localized financial infrastructure, Grey aims to deliver both speed and compliance — two factors rarely achieved together in international remittances.
“The complexity of cross-border payments has long limited access for freelancers and digital professionals in emerging markets,” Obong said. “Grey’s model removes those barriers — we’re building a bridge between global clients and Indian workers that’s faster, cheaper, and built for the 21st century.”
A Fintech Platform Built for Scale
Grey’s rapid international growth has been fueled by its mission to democratize access to global banking. Since its inception, the platform has expanded from Africa to Europe, North America, and now Asia, supporting users in over 170 countries. Its product suite — spanning multi-currency wallets, AI-driven conversion tools, and instant payouts — positions the company as a contender in the next generation of borderless financial services.
The Indian rollout, available now at www.grey.co, represents not only a major market expansion but also a milestone in the evolution of cross-border payments. As India continues to cement its status as a global hub for digital talent and remittances, Grey’s presence may well redefine what financial accessibility looks like for millions.
About Grey
Grey is a Y Combinator-backed fintech company offering borderless global banking services to freelancers, digital entrepreneurs, and businesses worldwide. Licensed in the U.S., Grey enables users to open and manage multi-currency accounts (USD, EUR, GBP), perform instant conversions, and receive payouts from over 170 countries. With over 2 million active users, Grey’s mission is to make international payments faster, fairer, and financially inclusive. Learn more at www.grey.co.