Kraken partners with MoneyGram for crypto-to-cash withdrawals

Kraken and MoneyGram announced a partnership on 5 May to let eligible customers convert digital assets into cash payouts. The companies describe access across more than 100 countries, with a phased rollout covering several regions. Initial transactions support customers sending funds to their own accounts.

Kraken handles onboarding and identity verification; MoneyGram provides money-transmission services through its regulated infrastructure. The announcement separates that first withdrawal use case from plans for local bank deposits and broader transfers later. A large global location count does not establish that every corridor and currency is available to a particular user on day one. Customers need the supported route, fees and pickup requirements for their own transaction.