African fintech Grey has been approved to operate under Canada’s regulated payments regime overseen by the Bank of Canada, marking a significant milestone in its global expansion strategy.
The approval enables Grey to offer compliant cross-border payment services within Canada, strengthening its ability to serve users moving money between Africa and international markets. It also signals that the company has met strict regulatory, operational, and security standards required to operate in one of the world’s most tightly governed financial ecosystems.
This development highlights a growing trend of African fintechs expanding beyond the continent and successfully navigating complex global regulatory environments to scale their services.
For Africa’s tech ecosystem, Grey’s milestone reinforces the continent’s rising influence in global finance. If more startups follow this path, it could unlock stronger cross-border payment rails and deepen Africa’s integration into the global digital economy.
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