Kraken & MoneyGram Launch Cash Crypto Withdrawals in Ukraine

Kraken and MoneyGram have launched a service allowing Ukrainian users to withdraw cash from their Kraken USD balance in hryvnia at over 100,000 MoneyGram locations worldwide. The partnership enables users to convert their digital assets into local currency quickly and easily.

To use the service, users must have an Intermediate level or higher of verification on Kraken, with their name matching a government-issued ID. The maximum monthly cash-out amount is $1,200, limited to three transactions per day and 20 per month.

The companies position this as a step towards simplifying the transition from digital assets to local cash. Kraken notes that the service will expand over time to include local bank deposits and utilize MoneyGram's cross-border remittance-style flows.