MoneyGram expands on Solana with global crypto-to-cash service

FinanceMoneyGram expands on Solana with global crypto-to-cash serviceWallets and apps on Solana can now tap MoneyGram's global network to move between digital assets and local currencies.By Krisztian Sandor|Edited by Jamie Crawley57 min ago2 min readMake preferred on ShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShowMoneyGram is extending its cash-to-crypto service, MoneyGram Ramps, to the Solana blockchain, allowing wallets, exchanges and developers on Solana to connect to its global cash network.The service lets users convert between cash and digital assets, supporting cash deposits in more than 25 countries and withdrawals in more than 170 countries and territories.The move deepens MoneyGram’s push into stablecoin-based payments and remittances, building on its earlier USDC cash-on/off-ramp with Stellar and the launch of its own dollar-backed stablecoin, MGUSD.MoneyGram is bringing its cash-to-crypto infrastructure to Solana (SOL), extending the money-transfer company's push into blockchain rails to connect stablecoins and digital wallets with its sprawling global cash network.The company said Tuesday that MoneyGram Ramps has become available to wallets, exchanges and developers building on Solana. The service lets users convert cash into digital assets or cash them out through MoneyGram's payment network without each crypto app having to build its own connections to banks and cash outlets.The service allows someone holding crypto in a supported wallet to turn it into local currency using MoneyGram's network. Users can also deposit cash to access digital assets. Ramps supports cash deposits in more than 25 countries and withdrawals across more than 170 countries and territories, the firm said.The move comes as stablecoins are increasingly being used beyond crypto trading, in payments and remittances. Fintechs, banks and payment companies are increasingly experimenting with dollar-pegged tokens to move money acro…

MoneyGram expands on Solana with global crypto-to-cash service

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