Kraken’s MoneyGram partnership brings crypto-to-cash withdrawals to 500,000 locations in 100+ countries, while co-CEO Arjun Sethi signals the exchange is nearly ready to go public.
Posted May 6, 2026 at 4:46 am EST.
Kraken and MoneyGram announced a strategic global partnership on Tuesday that will allow Kraken customers to convert cryptocurrency into cash across more than 100 countries, using MoneyGram’s network of nearly 500,000 retail locations spanning roughly 200 countries and territories. The service supports withdrawals in hundreds of fiat currencies.
Under the arrangement, Kraken handles customer onboarding and identity verification, while MoneyGram provides the licensed money transmission service through its regulated global payment infrastructure. The rollout will begin in phases across the U.S., Europe, Latin America, Africa, and parts of Asia Pacific.
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Kraken co-CEO Arjun Sethi said the partnership addresses a persistent gap in crypto infrastructure. “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,” Sethi said. He added that many Kraken customers, particularly in countries with volatile currencies, already treat the exchange like a bank: “They want to store in USD or USD equivalent. They want to be able to get yield.”
MoneyGram CEO Anthony Soohoo described the company as the “distribution layer that makes crypto accessible at scale.” MoneyGram was taken private in 2023 and has since built out a noncustodial crypto wallet and integrated stablecoins throughout its operations as part of a broader modernization push.
The deal is structured as the first step in a broader partnership. Future phases will add local bank deposits and cross-border remittance-style flows through Kraken’s Krak global money app.
Separately, Sethi said at Consensus Miami 2026 that Kraken is “80% ready” to go public. The company filed confidentially with the SEC in November but paused its IPO plans in March when market conditions deteriorated. “We’re ready,” Sethi said, citing broader cost discipline and automation improvements. Kraken has also acquired futures exchange NinjaTrader and derivatives platform Bitnomial over the past year as it expands beyond spot trading.
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