{
  "id": 5535822,
  "title": "Grey expands access to Chinese market with Chinese Yuan payout",
  "url": "https://urgent.news/2026/09/04/grey-expands-access-to-chinese-market-with-chinese-yuan-payout",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-04T10:25:08.000Z",
  "source": {
    "name": "Nairametrics",
    "slug": "nairametrics",
    "url": "https://nairametrics.com/2026/09/04/grey-expands-access-to-chinese-market-with-chinese-yuan-payout/"
  },
  "original_language": "en",
  "account": "Cross-border payments provider Grey has broadened its services to include Chinese Yuan (CNY) payouts, enabling users to transfer funds directly in Chinese currency across its supported markets. This move aims to simplify transactions for African businesses and individuals engaged in trade, commerce, travel, or personal activities with China. Users can now send payments ranging from 50 CNY to 21,000 CNY per transaction at a fixed fee of $2.80, utilizing USD, EUR, GBP balances, or stablecoins. Transactions typically complete within 24 hours from Monday to Friday, provided the transfer is submitted before the 10:00 GMT cut-off time.\n\nGrey's CEO and co-founder, Idorenyin Obong, emphasized the company's commitment to aligning the financial infrastructure supporting China's growing relationship with other markets. \"Africans are already trading with China at scale,\" Obong stated, highlighting the need to address the uncertainty and delays previously faced by African businesses in sending payments to Chinese partners. By offering Chinese yuan payouts, Grey seeks to provide a reliable and efficient solution, enabling businesses and individuals to trust the financial corridor they use for cross-border transactions, just as they would a local transfer.\n\nThe expansion reflects Grey's broader strategy to enhance cross-border financial services, empowering users to transcend the constraints of their local markets and engage more effectively in the global economy. This development comes amid a surge in bilateral trade between Africa and China, which reached $207 billion in the first half of 2026, according to China's Ambassador to Nigeria, Yu Dunhai. The growth is driven by China's zero-tariff policy for African exports, as well as the increasing demand for financial services that facilitate payments between African entities and their Chinese counterparts.\n\nGrey's integration of Chinese yuan support aligns with the broader efforts of Africa and China to deepen bilateral trade and investment. Both nations are focused on creating mechanisms to facilitate cross-border commerce. Grey's addition of Chinese yuan support to its platform allows African businesses importing goods from China to utilize their USD, EUR, GBP, or stablecoin balances on Grey to fund yuan payouts, eliminating the need to separately source and hold yuan. This feature underscores Grey's commitment to providing secure and convenient global banking solutions tailored to the needs of individuals and businesses in emerging markets.",
  "summary": "The growth in trade between Africa and China has created more opportunities for businesses on both sides, but paying Chinese suppliers in their preferred currency can still present a challenge for African businesses. To address this obstacle, cross-border payments platform Grey has expanded its payout network to support the Chinese Yuan (CNY) payout, allowing individuals […] The post Grey expands…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}