MoneyGram Adds Cash-to-Crypto Ramps on Solana via Rift
MoneyGram launched Ramps on Solana on Aug. 11 and integrated Rift as the first wallet, supporting cash deposits in more than 25 countries and withdrawals in over 170.
MoneyGram added its Ramps cash-to-crypto service to the Solana blockchain on Aug. 11 and integrated Rift as the first wallet. The integration links Solana wallets and applications directly to MoneyGram’s global cash network, allowing cash deposits into digital assets in more than 25 countries and cash withdrawals in over 170 countries and territories.
Ramps lets users convert supported cryptocurrencies held in compatible Solana wallets into local fiat for cash pickup, or deposit cash at MoneyGram locations and receive digital assets on Solana. The service is included in the Solana Developer Platform’s payments module.
MoneyGram offers Ramps to developers through an application programming interface with credentials, testing tools, documentation and software development kits to speed integration. The API provides a route between on-chain tokens and physical cash without each developer having to build banking relationships and payment rails in every market.
Rift is the first Solana wallet to integrate Ramps. Rift is an AI-powered trading platform that offers access to equities, commodities, cryptocurrency and foreign exchange markets, along with market data and trading signals. Rift will serve as an initial test of how wallets and apps use MoneyGram’s on- and off-ramps on Solana.
Anthony Soohoo, MoneyGram chairman and chief executive, said, “The future of payments is built on access.”
Lily Liu, president of the Solana Foundation, described the connection as a way for developers to build financial applications with real-world uses and expand their global reach.
MoneyGram reports it serves more than 60 million customers through nearly half a million retail locations, alongside digital channels. The company has been expanding its digital asset services to link that cash network with blockchain payment options across multiple chains.
Ramps’ addition to Solana gives developers another built-in payment option inside the Solana ecosystem. The company expects broader adoption by additional wallets, exchanges and applications on Solana as the next stage.
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