A transfer has three costs: a deposit fee, a conversion fee and a send fee. Grey shows all three, and the shilling amount your recipient receives, before you confirm. That makes the rate only one part of what a transfer from USDC to KES really costs.
Grey lists the deposit fee, the conversion fee and the send fee on separate lines, so you can see what each part of a transfer from USDC to KES costs. The exact shilling amount for Kenya is shown before you confirm. Your recipient can receive shillings in an M-Pesa wallet linked to a Safaricom number, or in an account at Equity Bank, KCB Bank, Co-operative Bank, NCBA or Standard Chartered Kenya.