Kraken And MoneyGram Partner On Global Crypto Cash Withdrawals

Kraken has signed a global deal with MoneyGram to make crypto cash withdrawals easier for users who need local currency access.

Good to Know

• Kraken users will be able to withdraw crypto as fiat currency in more than 100 countries.
• MoneyGram brings a cash pickup network with nearly 500,000 retail locations.
• The rollout starts in the US, Europe, Latin America, Africa, and parts of Asia Pacific.

Kraken Adds A Larger Cash Exit Route

Kraken is using MoneyGram to solve a basic crypto problem: turning digital assets into usable local cash.

The crypto exchange said the partnership will let millions of customers withdraw crypto as fiat currency through MoneyGram locations in more than 100 countries. In many cases, payouts will process instantly or close to instantly.

The deal connects Kraken exchange and liquidity tools with MoneyGram payment rails. For users, that means a clearer off ramp when they want to leave crypto and receive local currency instead of waiting on slower transfer options.

Kraken Co CEO Arjun Sethi said digital assets gain real use only when they connect with existing financial systems. He described the MoneyGram link as part of a wider path toward one financial network where crypto and traditional payments work together.

MoneyGram CEO Anthony Soohoo focused on access. MoneyGram has nearly 500,000 retail locations across more than 200 countries and territories, giving Kraken a cash payout network that reaches many markets where banking access can vary.

Under the agreement, Kraken will manage customer onboarding and compliance. MoneyGram will provide licensed money transmission services through its regulated network.

The first phase will cover users in the US, Europe, Latin America, Africa, and parts of Asia Pacific. Later, the companies expect to add local bank deposits and deeper links across Kraken platforms.