Kraken and MoneyGram Launch Fast Withdrawal Channel for Ukrainians

Crypto to Cash in Minutes: Kraken and MoneyGram Launch New Withdrawal Channel

The Kraken cryptocurrency exchange has partnered with international payment system MoneyGram to launch a new withdrawal channel for Ukrainians. Users can convert their dollar balance on the exchange into hryvnia and withdraw cash at a MoneyGram location.

The process involves logging in to the Kraken app or website, selecting 'Withdraw' and choosing hryvnia as the payout currency. The user must also have a sufficient balance in USD and be verified at the Intermediate level or higher.

The new service has limits, including up to $1,200 per month per user, no more than three transactions per day, and no more than 20 transactions per month. MoneyGram generates exchange rates in real-time, and users can assess the profitability of the transaction based on the final amount offered.

The partnership plans to add funds deposited into local bank accounts, cross-border money transfers, and integration with the Kraken payment app in the future.