MoneyGram Expands Crypto Payments Network with Ramps Launch on Solana

MoneyGram has expanded its digital asset infrastructure to the Solana blockchain, bringing MoneyGram Ramps to the network and allowing wallets, exchanges and developers to connect directly to its global cash and digital payment network

The launch enables users to move between cryptocurrencies and local currencies through MoneyGram’s established network. Rift is the first Solana-based wallet to integrate Ramps, giving its customers access to fiat on- and off-ramp services while expanding MoneyGram’s reach beyond traditional remittance services

MoneyGram Ramps is built around a single API that allows businesses to offer cash-to-crypto and crypto-to-cash services without developing their own banking infrastructure or managing multiple regulatory integrations. The service currently supports cash deposits in more than 25 countries and cash withdrawals across more than 170 countries and territories. Developers can access API credentials, sandbox environments, software development kits and technical documentation to begin integration, while the service is also available through the payments module of the Solana Developer Platform

Anthony Soohoo, Chairman and CEO of MoneyGram, said expanding the company’s network across additional platforms increases the reach and usefulness of its payments infrastructure. Lily Liu, President of the Solana Foundation, said the integration will make it easier for developers to build financial applications with real-world use cases and reach users across global markets