Kraken and MoneyGram have partnered to let users convert digital assets directly into cash at roughly 500,000 locations across more than 100 countries. The service supports hundreds of fiat currencies with instant or near-instant payouts.
Think of it like a global ATM network using corner shops and post offices. Kraken handles crypto-side compliance and identity verification, while MoneyGram provides its licensed money transmission infrastructure.
The rollout covers the US, Europe, Latin America, Africa, and parts of Asia Pacific. Future plans include local bank deposits and cross-border remittances through the Kraken app.
This puts Kraken in direct competition with Coinbase and Binance for cash-out services at an unprecedented scale. It also positions the exchange against traditional remittance players like Western Union and Wise if cross-border features materialize.
Kraken, founded in 2011, has positioned itself as a compliance-first exchange. MoneyGram launched its own native stablecoin, MGUSD, on the Stellar blockchain in June 2026.