dLocal Partners with Grey to Drive Expansion into New Emerging Markets

Infrastructure
29.08.2024 02:45 pm

dLocal, the leading cross-border payment platform specializing in emerging markets, today announced their partnership with Grey, a U.S start-up dedicated to providing global cross-border payments across the US, UK, Europe, Asia and Africa.

The Global Findex database reveals that around 1.7 billion adults globally are unbanked, with a significant number residing in developing countries. High costs and delays in cross-border payments can amplify financial exclusion by restricting access to formal financial services.

Through the partnership with dLocal, Grey will provide cross-border payouts to wallets and bank accounts, expanding its services into new markets such as Brazil, Indonesia, Mexico, the Philippines, and South Africa. This expansion will offer instant, low-cost transfers and comprehensive payment solutions, contributing to economic growth and broader access to financial services.

"Expanding into one country is tough enough, let alone multiple countries at once," says Idorenyin Obong, CEO and co-founder of Grey. "dLocal has eased payments integration, simplified regulatory challenges, and ensured a consistent experience across all markets, letting us focus on what we do best: delivering an inclusive and seamless global banking experience to our users.”

“To send and receive money is ordinarily never a matter of ‘what you see is what you get,’ with a multitude of cross-border fees eating into what is often a crucial lifeline,” says Agustin Botta, Head of EMEA from dLocal. “Our partnership allows us to break down financial barriers across emerging markets and ensure quick and affordable access to funds, no matter where our users are.