MoneyGram Ramps service launches on Solana blockchain
The new API-based tool allows developers to bypass banking infrastructure hurdles, with AI trading platform Rift becoming the first wallet to adopt the service.
MoneyGram has officially launched its MoneyGram Ramps service on the Solana blockchain, enabling users to convert between digital assets and physical cash through the payments firm’s extensive global network of retail locations. The move integrates traditional fiat liquidity directly into one of the most active networks for payments, trading, and stablecoins.
The API-based tool is designed to allow developers to integrate cash-to-crypto and crypto-to-cash features into applications without the need to manage underlying banking infrastructure or navigate complex regulatory frameworks. For Solana developers, the service is built directly into the Solana Developer Platform’s payments module, streamlining the process of adding real-world utility to financial applications.
Lily Liu, president of the Solana Foundation, the nonprofit organisation that supports the network, stated that connecting the ecosystem to MoneyGram’s global payments network allows developers to build financial applications with broader reach. The service supports cash deposits in more than 25 countries and facilitates withdrawals across more than 170 countries and territories.
Rift, an AI-powered trading platform that provides access to equities, commodities, crypto, and foreign exchange, is the first Solana wallet to integrate the Ramps service. MoneyGram described this integration as the beginning of wider adoption across the network, marking a significant step in bridging the gap between traditional finance and on-chain activity.
Anthony Soohoo, chairman and chief executive of MoneyGram, emphasised that the future of payments relies on access. He noted that each new platform the company connects expands its network's reach, extending MoneyGram’s operations beyond traditional remittances as financial activity increasingly shifts onchain. MoneyGram, which has over 85 years of experience and serves more than 60 million customers through nearly half a million retail locations worldwide, continues to position itself at the intersection of legacy finance and digital assets.
