CHEYENNE, Wyoming & DALLAS — May 5, 2026
Executive Summary
Kraken and MoneyGram have announced a new global strategic partnership designed to enable crypto-to-cash withdrawals at scale across a worldwide network. The collaboration allows millions of Kraken customers to convert digital assets into cash in hundreds of fiat currencies across more than 100 countries, leveraging MoneyGram’s extensive global cash pickup infrastructure. The partnership introduces a mechanism for bridging digital asset ecosystems with traditional financial networks, enabling instant or near-instant access to cash payouts. This initial rollout represents the first phase of a broader collaboration that will expand over time to include local bank deposit capabilities and cross-border remittance-style flows, supporting broader adoption and usability of crypto in real-world financial environments.
Announcement Overview
Kraken and MoneyGram have formally entered into a strategic global partnership that integrates Kraken’s crypto infrastructure with MoneyGram’s global payments network. Through this collaboration, Kraken customers gain the ability to convert cryptocurrency holdings into cash withdrawals across a large global footprint, spanning more than 100 countries and utilizing hundreds of fiat currencies. The partnership enables customers to initiate transactions from their Kraken accounts and access payouts through MoneyGram’s network of physical and digitally enabled locations.
This initiative is structured to address operational gaps between digital assets and traditional financial systems by providing a direct off-ramp from crypto into cash. The integration enables customers to send funds to their own accounts and retrieve those funds in local currency through MoneyGram’s infrastructure. The rollout is being implemented in phases across multiple regions, including the United States, Europe, Latin America, Africa, and parts of Asia Pacific, ensuring broad accessibility across diverse markets.
Key Announcement Details
- Announcement Type: Strategic global partnership
- Companies Involved: Kraken and MoneyGram
- Core Offering: Crypto-to-cash withdrawals
- Currencies Supported: Hundreds of fiat currencies
- Geographic Coverage: More than 100 countries worldwide
- Network Used: MoneyGram global cash pickup network
- Customer Scope: Millions of Kraken customers
- Transaction Type: Customers send funds to their own accounts for withdrawal
- Payout Speed: Instant or near-instant cash access (location dependent)
- Primary Use Case: Converting digital assets into local currency for real-world use
- Key Problem Addressed: Lack of reliable crypto off-ramps
- Operational Roles: Kraken handles onboarding and verification; MoneyGram handles licensed money transmission
- Infrastructure Components: Kraken crypto platform integrated with MoneyGram regulated payments network
- Initial Rollout Regions: United States, Europe, Latin America, Africa, and parts of Asia Pacific
- Future Expansion Plans: Local bank deposits and additional cross-border payout options
- Ecosystem Integration: Expansion across Kraken platforms including the Krak global money app
Where Crypto Meets Cash
The partnership between Kraken and MoneyGram is positioned around enabling the interaction between digital assets and physical cash systems, creating a functional bridge between crypto ecosystems and traditional money movement frameworks. As crypto adoption continues to expand globally, one of the operational constraints identified is the availability of reliable cash off-ramps, which directly impacts usability for everyday financial transactions.
Within this framework:
- Kraken provides:
- Crypto liquidity infrastructure
- Exchange capabilities
- Customer onboarding and identity verification systems
- Compliance mechanisms aligned with digital asset operations
- MoneyGram provides:
- Licensed money transmission services
- Global payout infrastructure
- Regulated financial network across multiple jurisdictions
- Extensive physical and digital distribution network
By combining these components, the partnership enables Kraken users to move funds from digital assets into local currency with greater operational simplicity and flexibility, facilitating real-world usability through direct cash access.
The integration supports transactions initiated by users to their own accounts, allowing conversion and withdrawal without intermediary complexity. Through MoneyGram’s global network, these transactions can be completed with instant or near-instant payout timelines, depending on the location and currency involved.
Leadership Commentary
Arjun Sethi, Co-Chief Executive Officer of Kraken, stated:
“Digital assets only matter at scale when they can interoperate with the financial systems people already depend on. By integrating Kraken’s liquidity, exchange and compliance infrastructure with MoneyGram’s global payout network, we are building a scalable bridge between digital asset markets and local cash economies. The future of finance will be defined by convergence: a unified financial stack where crypto and traditional rails work together to move value more efficiently.”
Anthony Soohoo, Chief Executive Officer of MoneyGram, stated:
“True financial inclusion happens when digital value meets everyday life. MoneyGram is the distribution layer that makes crypto accessible at scale: nearly 500,000 retail locations across 200 countries and territories, giving Kraken customers access to the world’s largest crypto-to-cash off-ramp.”
Institutional-Led Crypto Innovation in Practice
The partnership reflects a structured integration of institutional-grade financial infrastructure with digital asset platforms. MoneyGram has established a long-standing operational framework for global money movement, built over multiple decades, with a focus on secure, scalable, and regulated transaction processing.
Over the past five years, MoneyGram has expanded its capabilities into the crypto domain, including:
- API-based connectivity enabling fintech and crypto partners
- Direct integration with global payout infrastructure
- Support for both domestic and cross-border financial flows
Through this partnership:
- Kraken maintains responsibility for:
- Customer onboarding
- Identity verification
- Digital asset custody and transaction initiation
- MoneyGram delivers:
- Regulated money transmission services
- Compliance-aligned payout execution
- Cash disbursement across global locations
This delineation of responsibilities ensures that both entities operate within their established domains while delivering an integrated financial service to end users.
Built for Impact Today with a Clear Path to Expansion
The rollout of the crypto-to-cash withdrawal service is being implemented in phases across multiple global regions. The initial deployment includes availability for customers in:
- United States
- Europe
- Latin America
- Africa
- Parts of Asia Pacific
The phased rollout approach allows for progressive expansion while maintaining operational consistency and regulatory alignment across different jurisdictions.
This partnership represents the first step in a broader collaboration roadmap, with planned expansions that include:
- Local bank deposit capabilities
- Additional cross-border payout options
- Integration across Kraken’s ecosystem, including the Krak global money app
These future developments are intended to extend the functionality of the partnership beyond cash withdrawals, enabling a wider range of financial transactions across digital and traditional systems.
Kraken x MoneyGram Partnership at a Glance
What did Kraken and MoneyGram announce?
- Global strategic partnership
- Enables crypto-to-cash withdrawals
- Supports hundreds of fiat currencies
- Available across 100+ countries
- Utilizes MoneyGram’s global network
What problem does the partnership solve?
- Addresses lack of reliable crypto off-ramps
- Enables real-world usability of digital assets
- Bridges digital and physical financial systems
- Provides direct access to local currency
What comes next?
- Expansion into local bank deposits
- Introduction of cross-border payout capabilities
- Integration with Krak global money app
- Continued scaling of partnership services
About Kraken
Kraken was founded in 2011 and is recognized as one of the longest-standing crypto platforms globally. The platform supports trading across more than:
- 600 digital assets
- Traditional financial instruments, including:
- U.S. futures
- U.S.-listed stocks
- Exchange-traded funds
Kraken also supports six national currencies, including:
- GBP
- EUR
- USD
- CAD
- CHF
- AUD
The platform serves a diverse client base, including:
- Institutional investors
- Professional traders
- Retail consumers
Kraken’s product suite includes:
- Kraken App
- Kraken Pro
- Krak App
- Kraken Institutional
- Onchain offerings
- Ninja Trader retail trading platform
Across these services, users can:
- Buy and sell assets
- Stake and earn rewards
- Send and receive digital assets
- Manage portfolios
- Access derivatives and advanced trading tools
Kraken has implemented Proof of Reserves, establishing transparency in asset holdings, and operates in compliance with applicable regulations while maintaining a focus on security and client privacy.
About MoneyGram
MoneyGram operates as a global payments network providing cross-border money transfer services through a digitally enabled omnichannel platform. The company supports transactions across:
- Fiat currencies
- Stablecoin-based systems
MoneyGram’s operational scale includes:
- Serving over 50 million customers
- Presence in 200+ countries and territories
- Approximately 500,000 retail locations
- Expanding digital ecosystem reaching billions of devices
The company’s infrastructure enables:
- Fast and reliable cross-border transfers
- Integration with fintech and developer platforms
- Agent-based and digital transaction models
With over 85 years of operational history, MoneyGram continues to expand its capabilities in global payments, supporting financial connectivity for consumers and institutions worldwide.
Media Contact
For additional information, visit moneygram.com.
Source Attribution
Source: Company announcement
