PANews reported on May 6th that, according to CoinDesk, Kraken co-CEO Arjun Sethi stated at the Consensus Miami conference that the exchange's IPO preparations are "approximately 80% complete," and the company has filed with the SEC and is awaiting the right market timing. Kraken also announced a partnership with MoneyGram, aiming to solve the last-mile problem of cryptocurrency-to-cash. MoneyGram has approximately 500,000 retail locations worldwide. MoneyGram's chairman and CEO stated that in many cases, users still require access to cash, especially in regions with underdeveloped financial infrastructure. Executives from both companies noted that stablecoins can reduce costs and "waste" across the entire system. Kraken previously suspended its IPO plans in March.