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3w ago

MoneyGram Launches Ramps on Solana to Link Stablecoins With Global Cash Network

It gives Solana builders a single API to convert USDC or other stablecoins to local cash via MoneyGram's retail footprint.

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Via en.wikipedia.org
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Moneygram brings cash to crypto payments to solana with rift

Overview

  • MoneyGram made MoneyGram Ramps natively available on the Solana network, and Rift is the first Solana wallet to integrate the service, the company announced on Tuesday, Aug. 11.
  • The Ramps product lets users turn USDC and supported stablecoins into local currency at MoneyGram locations or deposit cash to receive stablecoins in a Solana wallet.
  • Developers can add the feature through a single API, sandbox and SDK now embedded in the Solana Developer Platform payments module, removing the need for bespoke banking integrations.
  • The launch builds on MoneyGram’s multichain plan: the firm became a Solana validator in June and still runs Stellar-based work including its MGUSD stablecoin.
  • MoneyGram advertises cash withdrawals in 170+ countries and cash deposits in 25+ countries, which speeds payouts for recipients who rely on cash but limits buy-in options and excludes certain U.S. states from Ramps access.