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Kraken Says IPO Preparation Is 80% Complete, Files Application With SEC

At Consensus Miami, Kraken said it is about 80% ready for an IPO and has applied to the SEC, while partnering with MoneyGram to expand crypto-to-cash and cash-to-crypto access through nearly 500,000 locations in 100+ countries.

Fact Check
The claim is strongly supported by a Fortune exclusive report dated May 5, 2026 ('Exclusive: Kraken to let customers cash out crypto at MoneyGram locations in more than 100 countries'), which directly confirms all key elements: the Kraken-MoneyGram partnership, 500,000+ physical locations, 100+ countries, and the focus on users in regions with weak banking infrastructure or unstable local currencies. The PANews article independently corroborates the same figures, citing Fortune. An X post from @MSBIntel on the same date echoes the same specifics. No conflicting or contradictory evidence was found. The only gap is the absence of a direct Kraken official blog post or official X confirmation retrieved in this run, which slightly tempers certainty but does not undermine the strong primary reporting.
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Summary

Kraken said its initial public offering preparation is about 80% complete and that it has submitted an application to the U.S. Securities and Exchange Commission. At Consensus Miami, the exchange also announced a partnership with MoneyGram to support crypto-to-cash and cash-to-crypto services through nearly 500,000 physical locations across more than 100 countries. Kraken said the partnership is designed to improve last-mile cash conversion, particularly for users in cash-reliant markets or regions with weak banking infrastructure or volatile local currencies, while it advances its public-market readiness in parallel.

Terms & Concepts
  • IPO: Initial public offering, the process through which a private company seeks to list shares on a public stock market.
  • Crypto-to-cash: A service that lets users convert digital assets into physical cash, typically through a financial intermediary or retail network.
  • SEC: The U.S. Securities and Exchange Commission, the federal regulator overseeing securities markets and public company filings.