Cryptocurrency exchange Kraken and US-based payments network MoneyGram have announced a strategic global partnership that will allow Kraken customers to withdraw crypto as cash in hundreds of fiat currencies across more than 100 countries. The arrangement leverages MoneyGram's physical, digital, and stablecoin-enabled payments network to provide a cash off-ramp for digital asset holders, marking the first phase of a planned broader collaboration between the two companies.
Bridging digital assets and local cash economies
The integration connects Kraken's exchange and compliance infrastructure with MoneyGram's network of nearly 500,000 retail locations across 200 countries and territories. Customers will be able to send funds to their own accounts, converting crypto into local currency through instant or near-instant cash payouts. The partnership is structured so that Kraken retains responsibility for customer onboarding and identity verification, while MoneyGram provides licensed money transmission through its regulated global payment infrastructure.
Access to reliable cash off-ramps has remained a persistent challenge to the everyday utility of crypto. As digital asset adoption expands across emerging and developed markets alike, the ability to convert holdings into local currency quickly and through accessible channels becomes increasingly important. The Kraken-MoneyGram arrangement addresses this by pairing exchange liquidity with an established physical distribution network already familiar to consumers in regions where cash remains dominant.
MoneyGram's crypto infrastructure and phased rollout
MoneyGram has spent several decades building cross-border money transfer capabilities, and over the past five years has expanded into the crypto sector through APIs that allow crypto and fintech partners to connect directly to its global network for domestic and cross-border off-ramps. The company operates as a licensed money transmitter, providing the regulatory framework and compliance infrastructure underpinning the new integration with Kraken.
The service will roll out in phases across Kraken's platforms, with initial availability targeting customers in the US, Europe, Latin America, Africa, and parts of Asia Pacific. While the initial scope focuses on crypto-to-cash withdrawals, the partnership is intended to expand over time to include local bank deposits and cross-border remittance-style flows through Kraken and the Krak global money app.
A company official at Kraken described the arrangement as building 'a scalable bridge between digital asset markets and local cash economies,' framing the convergence of crypto and traditional payment rails as a defining characteristic of the next stage of financial infrastructure. A MoneyGram representative characterised the company's role as a distribution layer enabling crypto accessibility at scale, pointing to the breadth of its retail network as a key enabler of real-world digital asset utility.
The partnership reflects a broader trend of regulated payment networks positioning themselves as infrastructure partners for digital asset platforms, as crypto firms seek to extend usability beyond on-chain transactions and into traditional financial channels.
