Kraken and MoneyGram Launch Crypto Cash Withdrawals in 100+ Countries
Kraken has partnered with MoneyGram to let customers withdraw crypto as local cash across more than 100 countries, giving the exchange a wider physical off-ramp for digital assets.
Quick Insights
- Kraken has partnered with MoneyGram to let customers withdraw crypto as cash in more than 100 countries.
- The service uses MoneyGram’s global cash pickup network and supports payouts in hundreds of fiat currencies.
- Kraken will handle customer onboarding and identity checks, while MoneyGram provides regulated money transmission.
- The partnership is expected to expand later into local bank deposits and remittance-style flows.
Kraken has signed a global partnership with MoneyGram that will let customers turn crypto balances into local cash through MoneyGram’s pickup network.
The exchange said the service will allow millions of customers to withdraw crypto as cash in more than 100 countries, using MoneyGram’s retail footprint and fiat payout rails. The rollout will begin in phases across the U.S., Europe, Latin America, Africa and parts of Asia Pacific.
The deal gives Kraken a larger physical off-ramp at a time when crypto exchanges are trying to make digital assets usable outside trading apps. Customers will be able to move from crypto into local currency through MoneyGram locations, while Kraken handles onboarding and identity verification.
Kraken Adds MoneyGram Cash Payouts Across 100+ Countries
Kraken said the partnership is designed to address a basic problem in crypto adoption: getting money out of digital assets and into local cash can still be awkward, slow or unavailable in many markets.
Under the new setup, Kraken customers will be able to withdraw funds through MoneyGram’s cash pickup network. According to Kraken’s support page, MoneyGram cash pickup converts a user’s USD balance into local currency at a real-time exchange rate, then provides a reference number for cash collection at a participating location.
Kraken’s announcement also frames the deal as the first stage of a broader partnership. Future phases are expected to include local bank deposits and cross-border remittance-style flows across Kraken and the Krak global money app.
"Digital assets only matter at scale when they can interoperate with the financial systems people already depend on."
MoneyGram Gives Kraken a Physical Off-Ramp
MoneyGram brings the physical distribution layer. The company says its broader MoneyGram Ramps service connects digital wallets to cash-in and cash-out access in more than 170 countries.
For Kraken, the value is not only the number of locations. It is the ability to use a regulated payments network that already handles local currency payouts, identity requirements and money transmission rules across many markets.
| Part of the deal | What it does | Why it matters |
|---|---|---|
| Kraken | Provides crypto liquidity, exchange access and customer verification. | Keeps the crypto account relationship inside Kraken. |
| MoneyGram | Provides regulated cash payout infrastructure and local pickup access. | Lets customers collect cash through an existing global payments network. |
| Next phase | Adds local bank deposits and remittance-style flows over time. | Moves the partnership beyond cash pickup into broader money movement. |
Cash Access Remains a Hard Problem for Crypto
The partnership shows where crypto adoption still depends on older financial infrastructure. Exchanges can offer trading, custody and stablecoin rails, but many users still need a reliable way to reach local cash.
That point is especially relevant in markets where bank access is uneven, local currencies are volatile or remittances remain expensive. A cash pickup option gives users a practical off-ramp without requiring every customer to depend on a local bank transfer.
The deal also lands as physical crypto access points face more regulatory scrutiny. Nakamoto Daily recently covered Bitcoin Bancorp’s expansion of its Bitcoin ATM network into Los Angeles, a very different approach to cash and crypto access.
Kraken’s MoneyGram partnership puts the exchange on a more regulated path. Instead of building a standalone kiosk network, it is plugging into an established payments company with money transmission infrastructure already in place.
For customers, the appeal is simple: crypto gains a cash exit route in more places. For Kraken, the deal adds a distribution layer that could matter as exchanges compete less on coin listings and more on practical access to money.
