MoneyGram has extended its Ramps cash-to-crypto service to Solana, letting wallets, exchanges and developers on the network tap the company's global cash network directly. The service supports cash deposits in more than 25 countries and withdrawals in more than 170 countries and territories, deepening MoneyGram's push into stablecoin-based payments alongside its existing Stellar integration.
MoneyGram Ramps went live on Solana on Tuesday, giving wallets, exchanges and developers building on the network a direct connection to the company's global cash infrastructure. The integration lets crypto apps offer cash-in, cash-out functionality without building their own bank and payout connections from scratch.
What the integration covers
Users holding crypto in a supported Solana wallet can convert it into local currency through MoneyGram's payment network, or deposit cash to receive digital assets. The service supports cash deposits in more than 25 countries and withdrawals across more than 170 countries and territories, the company said.
According to Crypto Briefing, the integration lives inside Solana's Developer Platform payments module, a design that lets developers building on Solana add fiat on- and off-ramps without bolting on a separate payment processor. MoneyGram became an active validator on Solana in June, joining Mastercard and Western Union on the network's Developer Platform.
Part of a broader stablecoin push
MoneyGram, which serves roughly 60 million active customers, has been building bridges between its traditional payments network and crypto for several years. In 2022, it launched a service with the Stellar Development Foundation that let users move between cash and Circle's USDC through its retail network.
The company took that strategy further in June, launching MGUSD, its own dollar-backed stablecoin issued by Bridge, the Stripe-owned stablecoin infrastructure company, on the Stellar network. MoneyGram was also listed as one of the partners in Open USD, the Stripe-led stablecoin initiative that aims to share revenue with a consortium of backers.
MoneyGram CEO Anthony Soohoo framed the Solana move as part of that wider strategy. "The future of payments is built on access", Soohoo said in a statement, calling the Solana expansion another step toward an open, global payments network.
Sources: CoinDesk, Crypto Briefing
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