Kraken and MoneyGram have launched global crypto cash withdrawals, opening a new bridge between digital assets and cash access.
Kraken and MoneyGram have launched a service that lets crypto holders withdraw digital assets as cash at nearly 500,000 retail locations worldwide, creating one of the largest crypto-to-cash off-ramps in the industry.
The partnership, announced on May 5, 2026, enables Kraken customers to convert crypto into cash pickups across more than 100 countries and hundreds of fiat currencies. MoneyGram’s network spans nearly 500,000 retail locations across 200 countries and territories.
Withdrawals draw from a user’s USD balance on Kraken and are typically available for cash pickup in under 10 minutes after confirmation. Quotes for each transaction expire after 30 minutes.
The rollout is phased and initially supports clients in the United States, Europe, Latin America, Africa, and parts of Asia Pacific. Users need Intermediate-or-higher verification on Kraken, with government ID details matching their account, before collecting cash.
A new bridge between digital assets and cash access
Kraken co-CEO Arjun Sethi framed the move as a step toward practical interoperability. “Digital assets only matter at scale when they can interoperate with the financial systems people already depend on,” Sethi said in the announcement.
“True financial inclusion happens when digital value meets everyday life.”
Anthony Soohoo, MoneyGram CEO
The service addresses a persistent gap in crypto infrastructure. While buying crypto has become straightforward through exchanges and payment apps, converting holdings back to physical cash, particularly outside the United States, has remained slow and expensive for many users. The Kraken-MoneyGram integration offers a direct path that bypasses traditional bank wire delays.
This development comes as institutional interest in Bitcoin products continues to grow, with major financial firms expanding their crypto offerings. The push toward real-world utility also aligns with broader industry momentum, as banks ramp up stablecoin lobbying ahead of upcoming regulatory votes.
Fortune reported that Kraken customers cashing out through MoneyGram face a variable exchange fee at pickup locations, though specific fee structures were not detailed in the launch materials.
Kraken handles customer onboarding and identity verification, while MoneyGram provides the licensed money transmission service. This split mirrors a compliance model increasingly common in crypto-fintech partnerships, where each party operates within its existing regulatory framework.
What to watch after the launch
The operational details will determine how meaningful this launch becomes in practice. Readers should watch for confirmed fee schedules across different corridors, supported cryptocurrency types beyond USD-balance withdrawals, and whether pickup times hold as adoption scales.
Market sentiment sits at a Fear & Greed Index reading of 48, reflecting neutral conditions as the industry digests the news. Coverage has focused on off-ramp utility and cash access rather than token-specific speculation.
Geographic expansion will be another key metric. While the initial rollout covers major regions, extending to MoneyGram’s full footprint of 200 countries and territories would significantly increase the service’s reach. How quickly Kraken moves from phased availability to full global access could shape competitive dynamics among exchanges, particularly as firms like major Bitcoin holders signal continued institutional commitment to the asset class.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
