Moneygram Brings Cash-to-Crypto Payments to Solana With Rift

Moneygram has launched its Ramps service on Solana, giving wallets and applications on the blockchain a direct connection between cryptocurrency and the company’s global cash network.

The service supports cash deposits in more than 25 countries and cash withdrawals in more than 170 countries and territories. That reach could give Solana developers a way to connect blockchain applications with physical cash without separately building banking relationships and payment infrastructure in each market.

For consumers, the practical benefit is straightforward. Cryptocurrency held inside a compatible Solana wallet can become easier to convert into spendable local currency, while people using cash can gain another route into digital assets.

Moneygram is pitching Ramps as infrastructure developers can add through an application programming interface, or API, which lets two pieces of software communicate. The company provides credentials, testing tools, documentation, and software development kits designed to shorten the integration process.

“The future of payments is built on access,” Moneygram Chairman and CEO Anthony Soohoo said. He said each additional platform connected to Ramps extends the reach and value of the company’s payments network.

The integration also fits a broader push by payments companies and blockchain developers to make digital assets more useful outside cryptocurrency markets. Stablecoins, which are digital tokens designed to maintain a steady value against assets such as the U.S. dollar, increasingly depend on reliable ways for users to move between blockchain-based money and traditional currencies.

Moneygram brings a sizable physical network to that challenge. The company says it serves more than 60 million customers through nearly half a million retail locations, alongside its digital payment channels.

The next test will be whether more Solana wallets, exchanges and applications adopt Ramps after Rift. Moneygram’s broader multichain strategy will also bear watching as the company works to connect its established cash network with more blockchain platforms and digital financial services.