Kraken Announces Partnership with MoneyGram for Global Crypto-to-Cash Conversion
Cryptocurrency exchange Kraken has partnered with MoneyGram to facilitate easier conversions between digital assets and cash at 500,000 retail locations worldwide. Kraken co-CEO Arjun Sethi stated the firm is 80% ready for an initial public offering. The announcements came during Consensus Miami on May 5, 2026.
cointelegraph.comKraken announced a partnership with MoneyGram on May 5, 2026, aimed at enabling easier conversion between cryptocurrency and cash globally. The collaboration leverages MoneyGram's network of roughly 500,000 retail locations worldwide to address the 'last mile' challenge in crypto adoption.
Arjun Sethi, co-CEO of Payward and Kraken, described the move as a way to provide cash access at onboarding locations, particularly in underserved markets.
Speaking at Consensus Miami on May 5, 2026, Sethi said the exchange is '80% ready' to go public. CoinDesk reported that Kraken confidentially filed with the SEC for an IPO in November and paused its plans afterward. Soohoo highlighted how stablecoins can 'remove waste' and lower costs across the system.
MoneyGram was taken private in 2023. The partnership reflects both companies' focus on expanding access to digital assets, with executives pointing to regions like Latin America where financial infrastructure often lags. CoinDesk reported these developments from the Miami Beach event, where moderators noted users treating exchanges like banks.
Key Facts
Story Timeline
6 events- 2026-05-05
Kraken announced partnership with MoneyGram to enable easier crypto-to-cash conversion globally.
1 sourceCoinDesk - 2026-05-05
Arjun Sethi stated Kraken is '80% ready' to go public at Consensus Miami.
1 sourceCoinDesk - 2026-05-05
Anthony Soohoo said the partnership is the 'first step' to solve the last mile at Consensus Miami.
1 sourceCoinDesk - November 2025
Kraken confidentially filed with the SEC for an IPO.
1 sourceCoinDesk - Post-November 2025
Kraken paused its IPO plans after the filing.
1 sourceCoinDesk - 2023
MoneyGram was taken private.
1 sourceCoinDesk
Potential Impact
- 01
Expanded global access to cryptocurrency through cash conversions in underserved markets.
- 02
Increased adoption of digital assets by bridging crypto and traditional cash systems.
- 03
Potential reduction in costs for financial transactions via stablecoins, affecting intermediaries.
- 04
Kraken's progression toward IPO, potentially resuming when market conditions improve.
Transparency Panel
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