Kraken will allow customers to convert cryptocurrencies into cash at MoneyGram locations across more than 100 countries, addressing a long-standing gap in the digital asset ecosystem, according to an exclusive report. a report From Fortune.
The partnership gives Kraken users access to nearly 500,000 physical locations worldwide, where they can exchange cryptocurrency collectibles for local currency. The move targets a key point of friction in cryptocurrency markets: While digital transfers stabilize quickly, converting assets into cash often involves multiple steps, limited banking access, or delays.
This initiative reflects the growing demand for reliable cash access, driven in part by the expansion of Kraken’s presence in regions with unstable currencies.
Arjun Sethi, co-CEO of Kraken, told Fortune that demand for reliable cash access has grown along with the exchange’s international user base, especially in regions with unstable currencies. In those markets, users often treat cryptocurrency platforms as alternatives to banks.
“They want to store in USD or USD equivalent,” Sethi said. “They want to get the return. They want to make the payments. They want to move money back and forth.”
This usage pattern creates a need for reliable ways to obtain cash. through MoneyGram network, Kraken users can bridge digital balances by charging local currency, paying a variable exchange fee associated with each transaction.
The deal also represents a strategic shift for MoneyGram, a legacy payments company that has modernized its operations after losing out to fintech companies and digital banks. The company has focused on integrating digital assets into its infrastructure as part of a broader effort to reorganize its business.
MoneyGram deals with cryptocurrencies
MoneyGram has spent recent years building out its cryptocurrency infrastructure, including a non-custodial wallet and deeper integration of stablecoins into its payment flows. The company has positioned stablecoins as the backbone of its cross-border transportation operations, with the aim of reducing the costs and settlement delays associated with traditional railways. A private equity buyout in 2023 has given the company room to pursue this transition outside of the public markets.
For Kraken, the deal adds to a period of expansion as it prepares for a potential public listing. The exchange has expanded its product range beyond spot cryptocurrency trading, acquisition NinjaTrader futures platform and derivatives venue Bitnomial. These moves reflect a strategy to compete across asset classes while enhancing their appeal for both institutional and retail users.
Despite its enterprise focus, Kraken’s growth in emerging markets has shaped product priorities. Access to cash remains critical in economies where banking infrastructure lacks accessibility or trust.
The tie-up with MoneyGram signals the convergence between cryptocurrency platforms and traditional financial networks, where physical locations still play a key role. It also highlights how adoption depends not only on digital innovation, but also on practical access to money on a daily basis.
Kraken has not revealed a full timeline for the global rollout or IPO plansAlthough it filed draft registration documents in late 2025.
