MoneyGram Integrates 60 Million Users into Solana Network: Cryptocurrencies to be Converted to Cash in 170 Countries

MoneyGram has launched the MoneyGram Ramps service, which enables the conversion of cryptocurrencies into cash across 170 countries by integrating its massive network of 60 million users into the Solana (SOL) blockchain.

Global payments giant MoneyGram announced its expansion into the Solana (SOL) network to strengthen the bridge between digital assets and physical cash. The company’s new service, MoneyGram Ramps, allows users to convert their cryptocurrencies into local currency in more than 170 countries or purchase digital assets by depositing cash in over 25 countries. This move aims to facilitate the use of cryptocurrencies in daily life, reaching broad audiences and eliminating the cash-out friction.

MoneyGram CEO Anthony Soohoo emphasized the importance of this development, stating, “The future of payments is built on access.” While providing the speed and low cost of blockchain technology to its approximately 60 million active customers, the company aims to keep complex technical processes in the background. The Solana network’s high transaction capacity represents a critical milestone for crypto adoption by merging MoneyGram‘s global cash network with modern financial infrastructure.

MoneyGram and Solana Collaboration in Crypto Adoption

MoneyGram‘s crypto strategy is not limited to this step; the company has long been working to bridge traditional finance with the digital world. In 2022, the firm integrated USDC via the Stellar (XLM) network and launched its own dollar-pegged stablecoin, MGUSD, last June. During the same period, the company also began serving as a validator on the Solana network, contributing directly to the network’s security and transaction processes.

Additionally, MoneyGram is among the partners of the Stripe-led Open USD initiative, solidifying its presence in the institutional liquidity space. These strategic steps accelerate the integration of traditional finance giants into the crypto ecosystem while paving the way for users to utilize their digital assets as physical cash without the need for bank accounts. This new infrastructure on Solana promises a major transformation, especially in cross-border payments and remittance transactions.