Crypto exchange Kraken has announced a global partnership with MoneyGram aimed at making it easier for users to convert digital assets into cash.
The collaboration will enable millions of Kraken customers to withdraw cryptocurrencies as fiat currency in over 100 countries, leveraging MoneyGram’s extensive global cash withdrawal network.
Users will be able to access payments in hundreds of fiat currencies, with transactions processed instantly or near-instantly in many cases.
The move targets one of crypto’s enduring challenges: reliable off-ramps to 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.
Arjun Sethi, CEO of Kraken Co, highlighted the broader importance of the partnership, saying that digital assets are only truly useful when they can connect to existing financial infrastructure.
He described the integration as part of a move toward a unified financial system where cryptocurrencies and traditional rails work together.
Anthony Soohoo, CEO of MoneyGram, presented the initiative as a step towards greater financial inclusion, highlighting the company’s global footprint, which has nearly 500,000 points of sale in more than 200 countries and territories.
Under the agreement, Kraken will manage customer onboarding and compliance processes, while MoneyGram will provide the licensed money transfer services through its regulated network.
The rollout will occur in phases, initially supporting users in the United States, Europe, Latin America, Africa, and parts of Asia Pacific.
Over time, the partnership is expected to expand beyond cash withdrawals to include local bank deposit capabilities and deeper integration between Kraken’s platforms.
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