Kraken partners with MoneyGram to enable crypto-to-cash withdrawals at 500,000 retail locations across 200 countries

Kraken, a U.S.-based cryptocurrency exchange, announced a strategic global partnership with MoneyGram that will allow Kraken customers to withdraw crypto as cash in hundreds of fiat currencies across more than 100 countries worldwide using MoneyGram's global cash pickup network of nearly 500,000 retail locations across 200 countries and territories. Kraken will be 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 roll out across Kraken's platforms in phases, supporting clients in the US, Europe, Latin America, Africa, and parts of Asia Pacific. Kraken Co-CEO Arjun Sethi said in the announcement that “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.”