finance
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.
May 5, 5:29 PM·1m read1 source
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Kraken 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.
