We’re excited to announce a new strategic global partnership with MoneyGram, one of the world’s leading global payments networks. This is the first step in a broader partnership, expanding over time to include local bank deposits and to utilize MoneyGram’s cross-border remittance-style flows.
Through this partnership, millions of our customers will be able to withdraw crypto as cash in hundreds of fiat currencies, spanning more than 100 countries worldwide, using MoneyGram’s extensive global cash pickup network.
Where crypto meets cash
As crypto adoption continues to grow globally, access to reliable cash off-ramps remains a critical barrier to everyday use. By combining our crypto infrastructure with MoneyGram’s extensive physical, digital and stablecoin-enabled payments network, this partnership bridges the gaps between digital assets and local money movement.
The integration supports transactions where our customers send funds to their own accounts, introducing a simpler and more flexible way to move funds from crypto into local currency. Through MoneyGram’s global network, customers can now access instant or near-instant payouts in cash, significantly improving the real-world usability of crypto.
Arjun Sethi, Kraken Co-CEO: “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, MoneyGram CEO: “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.”
Institution-led crypto innovation in practice
MoneyGram has spent decades building the foundation to move money safely and reliably at scale. Over the past five years, the company has expanded into the crypto space, with APIs that enable crypto and fintech partners to connect directly to its global network and offer both domestic and cross-border off-ramps.
This integration securely broadens off-ramp options for our customers.
We are responsible for customer onboarding and identity verification, while MoneyGram provides the licensed money transmission service through its regulated global payment infrastructure and compliance framework.
Built for impact today with a clear path to expansion
The service will roll out across our platforms in phases, supporting clients in the US, Europe, Latin America, Africa and parts of Asia Pacific.
This is the first step in a broader partnership between the two companies. While the initial focus is on enabling seamless crypto-to-cash withdrawals, the partnership will expand over time to include local bank deposits across Kraken and the Krak global money app.
The post appeared first on Kraken Blog.
