Overview
- Kraken and MoneyGram announced a global partnership Tuesday that lets Kraken customers turn crypto balances into local cash at nearly 500,000 locations across more than 100 countries.
- Kraken will run onboarding, identity checks, liquidity and compliance, while MoneyGram supplies the licensed money‑transmission and cash‑pickup network.
- Payouts are described as instant or near instant, and users will pay a variable exchange fee that depends on the transaction.
- The service will roll out in phases across the United States, Europe, Latin America, Africa and parts of Asia Pacific, with plans to add local bank deposits and cross‑border payout options over time.
- Kraken’s co‑CEO said the firm is about 80% ready for an IPO after a confidential SEC filing, while MoneyGram’s recent push into stablecoin and wallet tools reflects a broader modernization since going private in 2023.