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MoneyGram expands its cash-to-crypto API on Solana

The update makes Solana routing native to MoneyGram Ramps, removing a USDC-to-Stellar bridging step, while withdrawals remain available in more than 170 countries.

Reported · Written up by our desk · Market Structure

MoneyGram has extended MoneyGram Ramps, its cash-to-crypto and crypto-to-cash API, to Solana, and said the move ends MoneyGram Ramps being run as a Stellar-only product. The company added that Rift, a self-custody trading app, is the first Solana wallet to integrate the service.

Previously, Solana wallets wanting to route users into MoneyGram's retail cash network had to bridge USDC to Stellar first, using third-party providers such as Allbridge Core or Bridge.xyz, according to MoneyGram's developer documentation. MoneyGram said Ramps supported on- and off-ramps for USDC on Stellar using the SEP-24 protocol, and that going native on Solana removes the bridging step.

MoneyGram said Ramps supports cash deposits in more than 25 countries and cash withdrawals in more than 170 countries and territories, with nearly 500,000 retail locations and more than 60 million customers served. The company also said developers integrating Ramps get instant API credentials and sandbox access without building banking integrations.

The expansion comes after MoneyGram moved on June 22 to run a Solana validator and join the Solana Developer Platform, and MoneyGram said Ramps is now embedded in its payments module. MoneyGram said its dollar-backed stablecoin work remains on Stellar, with MGUSD issued by Bridge, a Stripe subsidiary.

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