TLDR
- Kraken will allow users to convert cryptocurrency into cash through MoneyGram locations in more than 100 countries.
- The partnership gives Kraken customers access to nearly 500,000 physical outlets worldwide for local currency pickup.
- Users will pay a variable exchange fee for each crypto-to-cash transaction completed through the MoneyGram network.
- Kraken co-CEO Arjun Sethi said demand for reliable cash access has grown in regions with unstable currencies.
- MoneyGram continues to expand its digital asset strategy by integrating stablecoins and crypto services into its payment infrastructure.
Kraken will allow customers to convert cryptocurrency into cash through MoneyGram locations in more than 100 countries. The partnership gives users access to nearly 500,000 physical outlets worldwide for local currency pickup. The companies aim to simplify crypto cash-outs and reduce delays tied to traditional banking systems.
Kraken Expands Global Cash Access Through MoneyGram Network
Kraken confirmed the agreement in an exclusive statement to Fortune, outlining its plan to bridge digital balances with physical cash services. The exchange will let users transfer crypto holdings to MoneyGram locations and receive local currency after paying a variable exchange fee. The companies said they will roll out services across more than 100 countries through nearly 500,000 outlets.
Kraken co-CEO Arjun Sethi said demand for reliable cash access has increased as the platform expands internationally. He told Fortune, “They want to store in USD or USD equivalent.” He added, “They want to get yield. They want to do payments. They want to move money back and forth.”
Sethi explained that users in unstable currency regions rely on crypto platforms as alternatives to banks. He said customers seek dependable off-ramps to convert digital balances into everyday cash. Therefore, the MoneyGram partnership will allow users to complete transactions in local currency through physical branches.
Kraken stated that each transaction will include a variable exchange fee linked to the specific transfer. The exchange did not disclose exact pricing or a detailed rollout timeline. However, it confirmed that the service will launch in phases across supported regions.
MoneyGram Advances Digital Asset Strategy With Kraken
MoneyGram said the partnership aligns with its strategy to modernize its global payments infrastructure. The company has integrated digital assets into its network and has developed a noncustodial wallet. It has also incorporated stablecoins into payment flows to lower settlement times and transaction costs.
MoneyGram has positioned stablecoins as a foundation for cross-border transfers within its system. The company aims to streamline international payments by reducing reliance on traditional rails. A private equity acquisition in 2023 allowed MoneyGram to pursue digital expansion outside public market pressures.
For Kraken, the agreement supports ongoing business growth as it prepares for a potential public listing. The exchange has expanded beyond spot trading and has acquired NinjaTrader and Bitnomial. These acquisitions broaden its product offerings across futures and derivatives markets.
Kraken filed draft registration documents for an IPO in late 2025 but has not announced a public timeline. The company continues to expand services in emerging markets where banking access remains limited. It confirmed that the MoneyGram service will connect digital crypto balances with cash pickup points across participating countries.
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