Svmuu reported that Kraken co-CEO Arjun Sethi stated at the Consensus Miami conference that preparations for the Kraken IPO are approximately 80% complete. The company has submitted an application to the U.S. Securities and Exchange Commission and is currently waiting for a suitable market window.
Kraken also announced a partnership with MoneyGram to collaborate on integrating crypto assets with cash exchange scenarios, aiming to solve the "last mile" cash accessibility issue. MoneyGram currently has approximately 500,000 retail locations globally. Executives from both companies indicated that stablecoins could help reduce cost and efficiency losses within the payment system, especially in regions with weaker financial infrastructure. (CoinDesk)