Kraken, a global crypto platform, and MoneyGram, an international payments network, have announced a strategic global partnership. This collaboration will enable Kraken customers to withdraw crypto as cash in hundreds of fiat currencies across more than 100 countries utilizing MoneyGram’s global cash pickup network.
The partnership aims to address a significant barrier in crypto adoption: access to reliable cash off-ramps for everyday use. By integrating Kraken’s crypto infrastructure with MoneyGram’s extensive physical and digitally enabled payments network, the initiative seeks to bridge the gap between digital assets and local money movement. The integration supports transactions where Kraken customers send funds to their own accounts, offering a streamlined method to convert crypto into local currency with instant or near-instant cash payouts through MoneyGram’s network.
Arjun Sethi, co-CEO 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, CEO of MoneyGram, added, “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.”
MoneyGram has developed its foundation over decades to facilitate secure and reliable money transfers at scale. Over the past five years, the company has expanded into the crypto sector, offering APIs that enable crypto and fintech partners to connect directly to its global network for both domestic and cross-border off-ramps. In this partnership, Kraken is responsible for customer onboarding and identity verification, while MoneyGram provides the licensed money transmission service through its regulated global payment infrastructure and compliance framework.
The service will be rolled out across Kraken’s platforms in phases, initially supporting clients in the United States, Europe, Latin America, Africa, and parts of Asia Pacific. This initial offering is part of a broader partnership between the two companies, with plans to expand over time to include local bank deposit and additional cross-border payout options across Kraken and the Krak global money app.
Founded in 2011, Kraken operates as a crypto platform offering trading for over 600 digital assets, traditional assets, and six national currencies. It serves millions of institutions, professional traders, and consumers with a suite of products and services including Kraken App, Kraken Pro, the Krak App, Kraken Institutional, and Ninja Trader. Kraken is noted for its adherence to transparency and client trust, being the first crypto platform to conduct Proof of Reserves.
MoneyGram is a global payments network with over 85 years of operation, providing seamless money transfers through a digitally powered, omnichannel platform that supports both fiat and stablecoin transactions. The company serves over 50 million customers across more than 200 countries and territories through nearly half a million retail locations and a digital ecosystem.
