Kraken has partnered with MoneyGram to enable crypto-to-fiat withdrawals in more than 100 countries through a global cash pickup network that supports local currency payouts. Users will be able to access payouts in hundreds of fiat currencies, with transactions processed instantly or near instantly in many cases.
Crypto exchange Kraken has announced a global partnership with MoneyGram to make it easier for users to convert digital assets into cash. The collaboration will allow millions of Kraken customers to withdraw crypto as fiat currency across more than 100 countries, leveraging MoneyGram’s extensive global cash pickup network.
"Digital assets only matter at scale when they can interoperate with the financial systems people already depend on," said Arjun Sethi, Kraken co-CEO. "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," he added.
Under the arrangement, Kraken will handle customer onboarding and compliance processes, while MoneyGram will provide the licensed money transmission services through its regulated network.
The move targets one of crypto’s persistent challenges – reliable off ramps into local currency. By integrating Kraken’s exchange and liquidity infrastructure with MoneyGram’s payments network, the companies aim to bridge the gap between digital assets and traditional financial systems.
"True financial inclusion happens when digital value meets everyday life," said Anthony Soohoo, MoneyGram CEO. "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," he added.
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The rollout will occur in phases, initially supporting users in the US, Europe, Latin America, Africa, and parts of the Asia Pacific. Over time, the partnership is expected to expand beyond cash withdrawals to include local bank deposit functionality and deeper integration across Kraken’s platforms.