dLocal and Grey hit milestone with an average quarterly growth of 80% in payout volumes across new emerging markets

Montevideo, Uruguay, September 2, 2025 – dLocal,(NASDAQ: DLO) the cross-border payment platform connecting global merchants to emerging markets, has announced a new milestone of its partnership with Grey, the U.S.-based fintech providing customers and businesses in new key emerging markets with access to foreign accounts and seamless international payments.

This rapid go-live builds on earlier achievements in Nigeria, Kenya, and Ghana, and demonstrates how the partnership is fueling expansion while improving customer experience. Since implementation, Grey’s payout volumes increased significantly over the course of one year, with an average quarterly growth rate of 80% across new markets. This extraordinary percentage growth highlights the quick and effective scale-up driven by their joint growth strategy.

High costs and slow transaction speeds remain major hurdles for cross-border payments in emerging markets. According to the World Bank, the global average cost of sending remittances was 6.62% in Q3 2024, with Sub-Saharan Africa the most expensive at 8.45%, and banks charging up to 13.64% per transaction. These barriers limit financial inclusion and slow digital platform growth.

dLocal and Grey are tackling these challenges by enabling instant, low-cost payouts across new key emerging markets. This includes Morocco, with bank transfers; Egypt, supporting both bank transfers and eWallets like Meeza; and Algeria, with bank transfers and mobile wallets such as Ooredoo, Mobilis, and Djezzy. This local coverage allows Grey to offer faster, easier, and more relevant payouts for users and businesses throughout Africa.

By leveraging dLocal’s robust infrastructure, Grey allows users to hold, exchange, and send multiple currencies in one place. The partnership has sped up onboarding, cut payout times from days to minutes, and helped Grey quickly grow in new markets—showing the clear impact and wider reach of their collaboration.

“Building on our strong partnership with dLocal, we’ve rapidly entered new key markets, streamlined payments integration, and delivered a truly global experience,” said Femi Aghedo, COO and Co-founder at Grey. “Early results, like faster onboarding, instant payouts, and strong adoption, highlight how this collaboration is driving operational efficiency and enabling access for users and businesses across regions.”

“This collaboration with Grey is a clear example of how robust cross-border payment infrastructure enables scalable growth in emerging markets,” Agustin Botta, Head of EMEA at dLocal. “By delivering seamless local payment solutions, we help businesses expand globally while staying relevant to local needs. The strategic launches and strong payment capabilities we’ve achieved together highlight our commitment to unlocking real opportunities in these regions.”

About dLocal

dLocal powers local payments in emerging markets, connecting global enterprise merchants with billions of emerging market consumers across APAC, the Middle East, Latin America, and Africa. Through the “One dLocal” concept (one direct API, one platform, and one contract), global companies can accept payments, send payouts, and settle funds globally—without the need to manage separate processors or set up local entities. For more information, visit https://www.dlocal.com.

About Grey

Grey is at the forefront of providing secure and convenient global banking solutions to meet the needs of customers and businesses. Grey holds a Money Service Business license from FINTRAC in Canada and FinCEN in the USA, and our primary focus is emerging markets. Our range of services enables individuals and businesses to easily own and manage multi-currency accounts. This includes currency exchange, sending and receiving payments to and from over 170 countries, as well as access to virtual cards. Media contact: For all press-related inquiries, please contact Oyinda via [email protected]