Kraken eyes IPO with MoneyGram cash push

Kraken said it is “about 80% ready” to go public as it rolls out a partnership with MoneyGram to improve crypto-to-cash access.

The deal aims to solve the “last mile” problem in digital assets by enabling users to convert crypto into physical cash through MoneyGram’s roughly 500,000 global retail locations.

Kraken co-CEO Arjun Sethi said the exchange has already filed for an IPO but is waiting for favourable market conditions before proceeding.

“This is the first step of working together to solve the last mile,”

Said Anthony Soohoo, noting that:

“In many situations, customers still want access to cash.”

Sethi added that demand for cash access remains strong in regions with limited financial infrastructure, particularly across Latin America and other underserved markets.

Both companies said stablecoins and digital assets can reduce costs and improve efficiency, with Sethi arguing that traditional intermediaries are being displaced as crypto firms expand into financial services.

MoneyGram, which was taken private in 2023, said it is focused on long-term rebuilding rather than near-term listing plans, while Kraken continues to position itself for a public debut as the industry stabilises.