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Crypto exchange Kraken has announced a global partnership with MoneyGram aimed at making it easier for users to convert digital assets into cash.
The collaboration will allow millions of Kraken customers to withdraw crypto as fiat currency across more than 100 countries, leveraging MoneyGram’s extensive global cash pickup network.
Users will be able to access payouts in hundreds of fiat currencies, with transactions processed instantly or near instantly in many cases.
The move targets one of crypto’s persistent challenges – reliable off ramps into local currency.
By integrating Kraken’s exchange and liquidity infrastructure with MoneyGram’s payments network, the companies aim to bridge the gap between digital assets and traditional financial systems.
Kraken Co CEO Arjun Sethi emphasized the broader significance of the partnership, stating that digital assets achieve real utility only when they can connect with existing financial infrastructure.
He described the integration as part of a shift toward a unified financial system where crypto and traditional rails operate together.
MoneyGram CEO Anthony Soohoo framed the initiative as a step toward greater financial inclusion, highlighting the company’s global footprint of nearly 500,000 retail locations across more than 200 countries and territories.
Under the arrangement, Kraken will handle customer onboarding and compliance processes, while MoneyGram will provide the licensed money transmission services through its regulated network.
The rollout will occur in phases, initially supporting users in the US, Europe, Latin America, Africa and parts of Asia Pacific.
Over time, the partnership is expected to expand beyond cash withdrawals to include local bank deposit functionality and deeper integration across Kraken’s platforms.
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