Kraken MoneyGram partnership facilitates the use of cryptocurrencies by enabling easy withdrawals. Users can now exchange digital assets for cash via MoneyGram.
According to the announcement, Kraken customers will be able to convert their cryptocurrency into fiat currency and withdraw money instantaneously or after a short period. This new service will use MoneyGram’s worldwide payout network that accepts a variety of currencies from over 100 countries.
The implementation of the Kraken MoneyGram partnership will take place gradually, initially focusing on countries such as the United States, Europe, Latin America, Africa, and some parts of the Asia Pacific region. Going forward, the companies will add other features such as bank deposits and transfers.
Kraken will handle all user onboarding and identification, as well as compliance. However, for its part, MoneyGram will offer the licensed platform that will allow for the execution of cash payouts. Cash payouts will be the primary concern at the initial stage of operation, but the Kraken MoneyGram partnership will likely grow beyond that.
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Kraken MoneyGram Partnership Expands Crypto Access
MoneyGram operates nearly 500,000 locations across more than 200 countries and territories, giving the partnership a strong global presence, especially in areas where access to traditional banking remains limited.
Stablecoins Continue to Grow in Global Payments
This is happening amid growing interest in using stablecoins for international payments, particularly in developing countries. Payment firms are seeking innovative methods to integrate blockchain with traditional payment systems to improve efficiency and reduce costs.
USDPT, a US dollar-backed stablecoin, is offered by Western Union, a rival company to MoneyGram. Its rollout began in Bolivia and the Philippines before extending to more than 40 countries in 2026. It is creating a Digital Asset Network to convert digital currencies into cash internationally.
Remittances are becoming increasingly important in many areas around the world. Speaking at the World Economic Forum this year, Vera Songwe, an economist, pointed out that remittances have become crucial in providing financial assistance to families in some African countries.
Stablecoins are gaining traction in Latin America. According to Bitso in 2025, stablecoins account for nearly 40% of crypto buys in Latin America compared to 18% for Bitcoin. The region’s remittance market is estimated at $174 billion.
There are still nations that are wary. The Brazilian central bank restricts the use of cryptocurrencies for certain international payments, which must be conducted through FX mechanisms.
However, the market for stablecoins has seen considerable growth, growing to a total value of approximately $322 billion, compared to the roughly $243 billion last year, according to DefiLlama.
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