MoneyGram Links Solana to Its Global Crypto-to-Cash Payout Network
MoneyGram has deepened its integration with the Solana blockchain, allowing crypto wallets and apps on the network to connect with the company’s infrastructure to exchange digital assets for regular fiat currency.
The service is called MoneyGram Ramps, which links crypto wallets to MoneyGram’s global network of physical locations in over 170 countries. Currently, the service primarily uses the USDC stablecoin, which can be exchanged for local currency and withdrawn in cash at participating branches.
Easier Than Ever to Convert Cryptocurrency into Cash
The main challenge for many crypto services isn’t transferring digital assets between wallets, but cashing them out into regular currency. This integration allows Solana apps to use MoneyGram’s existing infrastructure instead of building their own exchange network.
For users, the process is simplified: funds are stored and moved digitally, and when needed, they can cash out through MoneyGram in local currency. Availability, however, depends on the country and the specific location.
MoneyGram has been expanding its presence on Solana. In June, the company became a network validator and joined the Solana Developer Platform — a platform for building payment and financial services on the blockchain. MoneyGram serves over 60 million active customers and has nearly half a million agent locations worldwide.
For the crypto market, this marks another step toward bridging digital currencies with the traditional payments system: crypto wallets become less of a separate ecosystem when the funds can be withdrawn through a familiar international money transfer network.
Cryptocurrencies remain high-risk assets, and exchange availability and fees may vary by country.
