Solana Network Gains Access to MoneyGram's Global Cash Infrastructure
The global money transfer giant MoneyGram has integrated Solana into its Ramps platform, enabling Solana-based wallets and apps to tap into its worldwide cash conversion network, with Rift wallet pioneering the integration.
MoneyGram, the international money transfer giant, has brought its Ramps platform to the Solana blockchain, enabling wallet providers, cryptocurrency exchanges and application developers operating on the network to provide cash-to-cryptocurrency and cryptocurrency-to-cash conversion capabilities via its extensive payment infrastructure.
The Ramps service had been exclusively running on Stellar until now, with Solana becoming the second blockchain platform to receive support. The Solana (SOL) wallet known as Rift has become the inaugural integration partner for this service, enabling its user base to seamlessly transition between digital assets and fiat currencies in their local markets through MoneyGram's infrastructure.
Through an announcement posted on X platform regarding this integration, Solana highlighted that MoneyGram maintains a customer base exceeding 60 million people through an extensive network of nearly 500,000 retail outlets spanning more than 170 countries worldwide, with developers building on Solana now able to access this entire network through a unified API.
According to MoneyGram's specifications, the Ramps platform facilitates cash deposit transactions in over 25 nations and enables withdrawal services across more than 170 countries and territories globally. The infrastructure, which has also been incorporated into the payments module within the Solana Developer Platform, enables application creators to implement MoneyGram's fiat currency on-ramp and off-ramp capabilities without the need to construct their own financial institution partnerships and integrations.
According to the company's statement, bringing Ramps to the Solana ecosystem represents one component of a more comprehensive strategic initiative to deploy Ramps functionality across numerous blockchain networks. During June, MoneyGram took on the role of a Solana validator, committing SOL tokens through staking and participating in transaction validation on the network. The company simultaneously became a participant in the Solana Developer Platform as part of that strategic expansion.