Kraken and MoneyGram Partner to Enable Global Crypto-to-Cash Withdrawals
New Alliance Aims to Bridge Digital Assets and Local Currencies Across Over 100 Countries
May 6, 2026 – Kraken, one of the world’s longest-standing and most secure cryptocurrency platforms, has entered into a strategic global partnership with MoneyGram, a leading international payments network. This collaboration is designed to facilitate fast and reliable conversion of cryptocurrencies into cash, leveraging MoneyGram’s expansive cash pickup network that spans more than 100 countries and supports hundreds of fiat currencies.
Bridging the Gap Between Crypto and Traditional Finance
As cryptocurrency adoption accelerates worldwide, one persistent challenge has been enabling easy access to cash from digital assets. Kraken and MoneyGram’s partnership directly addresses this hurdle by combining Kraken’s cutting-edge crypto infrastructure with MoneyGram’s physical and digital payments ecosystem. This union creates a streamlined solution for Kraken customers to transfer funds from crypto into local currency and withdraw cash conveniently at MoneyGram’s retail locations globally.
Arjun Sethi, Kraken Co-CEO, emphasized the significance of this synergy, stating, “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.” He added that the future of finance lies in the convergence of crypto and traditional payment rails to enable more efficient movement of value.
Anthony Soohoo, CEO of MoneyGram, also highlighted the partnership’s impact on financial inclusion: “True financial inclusion happens when digital value meets everyday life. MoneyGram is the distribution layer that makes crypto accessible at scale with nearly 500,000 retail locations across 200 countries and territories, offering Kraken customers access to the world’s largest crypto-to-cash off-ramp.”
A Robust, Secure Infrastructure Supporting Global Reach
MoneyGram has been a trusted global payments provider for over 85 years, known for reliable cross-border money transfers. Over the past five years, the company has integrated cryptocurrency-related services into its platform via APIs, enabling fintech partners to connect and offer crypto-related off-ramps both domestically and internationally.
In this collaboration, Kraken is responsible for onboarding customers and verifying identities, ensuring robust compliance and security, while MoneyGram brings its licensed money transmission capabilities and regulated payment infrastructure to the table. Together, they provide Kraken users with an expanded suite of options for converting their crypto holdings into accessible cash.
Phased Rollout with Plans for Expansion
The crypto-to-cash withdrawal service will launch in phases across Kraken’s platforms, initially supporting clients in the United States, Europe, Latin America, Africa, and select parts of the Asia Pacific region. Looking ahead, the partnership aims to broaden its offerings by incorporating local bank deposits and cross-border payout methods through Kraken’s platforms and the Krak global money app.
About Kraken
Founded in 2011, Kraken has grown into one of the most respected cryptocurrency exchanges worldwide, offering trading in over 600 digital assets alongside traditional financial products such as U.S. futures, stocks, and ETFs. Kraken serves millions of users—including institutional investors and professional traders—and is renowned for its transparency, security, and compliance leadership. Clients can engage with a diverse product portfolio including Kraken Pro, Kraken Institutional, and other trading platforms.
About MoneyGram
MoneyGram operates a global omnichannel payments platform that enables seamless money transfers across fiat currencies and stablecoins. Reaching over 50 million customers in more than 200 countries and territories, and supported by nearly half a million retail locations, MoneyGram continues to innovate in the financial services space, fostering greater accessibility and convenience for users worldwide.
For more information, visit Kraken’s website or MoneyGram’s official pages.
Source: Business Wire press release, May 5, 2026
Read the full release here