Kraken Strikes MoneyGram Deal for Crypto-to-Cash at 500K Global Locations

Kraken has finalized a partnership with MoneyGram on May 5, 2026, enabling users to convert crypto to cash at nearly 500,000 locations across 100+ countries and hundreds of fiat currencies. Phased rollouts target the US, Europe, Latin America, Africa, and APAC, with instant payouts and future bank deposits/remittances planned to enhance off-ramps. The deal builds on MoneyGram's pivot from a 2019 $30M Ripple investment (paused 2021) to USDC support, and Kraken parent Payward's Bitnomial acquisition and $200M Deutsche Börse funding, boosting crypto liquidity and adoption.