Kraken has announced a strategic partnership with MoneyGram, enabling its users to withdraw cash from crypto assets at nearly 500,000 MoneyGram locations worldwide. This collaboration, revealed on May 5, initially focuses on crypto withdrawals, with plans to expand into local bank deposits and cross-border remittances. Kraken will manage customer identity verification, while MoneyGram provides licensed money transfer services and compliance infrastructure. In related news, Kraken Co-CEO Arjun Sethi stated that the company's IPO progress is about 80% complete, with a confidential S-1 filing submitted to the SEC. Bloomberg estimates Kraken's valuation at approximately $13.3 billion, following a $200 million equity investment by Deutsche Börse.