Cryptocurrency exchange Kraken has announced a global partnership with MoneyGram aimed at making it easier for users to convert digital assets into cash.
the cooperation It will allow millions of Kraken customers to withdraw cryptocurrencies as fiat currency across more than 100 countries, leveraging MoneyGram’s extensive global network to receive cash.
Users will be able to access payments in hundreds of fiat currencies, with transactions processed instantly or almost instantly in many cases.
This move targets one of the ongoing challenges facing cryptocurrencies, which is the possibility of reliable on-ramps for dealing with the local currency.
By integrating Kraken’s exchange and liquidity infrastructure with the MoneyGram payments network, the companies aim to bridge the gap between digital assets and traditional financial systems.
Arjun Sethi, CEO of Kraken Co, stressed the broader importance of the partnership, noting that digital assets only bring real benefit when they can connect to existing financial infrastructure.
He described the integration as part of the shift toward a unified financial system where cryptocurrencies and traditional mints work together.
MoneyGram CEO Anthony Sohu framed the initiative as a step towards greater financial inclusion, highlighting the company’s global footprint of nearly 500,000 retail locations in more than 200 countries and territories.
Under the arrangement, Kraken will handle customer onboarding and compliance, while MoneyGram will provide licensed money transfer services through its regulated network.
The rollout will be phased, initially supporting users in the United States, Europe, Latin America, Africa, and parts of Asia-Pacific.
Over time, the partnership is expected to expand beyond cash withdrawals to include local bank deposit functionality and deeper integration across Kraken platforms.
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