Kraken has partnered with MoneyGram to let users withdraw crypto as cash at MoneyGram locations across more than 100 countries. The tie-up connects one of the largest crypto exchanges with a global remittance network that already has deep reach in underbanked and cash-dependent markets.
For Kraken, the partnership is a direct bridge between on-chain assets and physical cash — a gap that has long limited crypto's utility for users without easy access to bank accounts or card rails. For MoneyGram, it extends a relationship with the digital asset space it has been quietly building for several years.
The move signals growing confidence that crypto-to-cash corridors are a viable product, not just a niche use case — and puts pressure on competitors to match the coverage.
Frequently asked questions
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How does the Kraken and MoneyGram partnership benefit underbanked users?
The partnership allows underbanked users to withdraw crypto as cash at MoneyGram locations, enhancing access to financial services for those without traditional banking options.
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What implications does this partnership have for competitors in the crypto space?
The collaboration signals that crypto-to-cash services are becoming mainstream, which may compel competitors to develop similar offerings to maintain their market position.
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