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MoneyGram brings cash-to-crypto service to Solana
['Tue', 'August', 'At Pm Gmt', 'Min Read']
Yahoo Finance
MoneyGram has launched its crypto on- and off-ramp service on Solana, letting people on the network move between digital assets and physical cash through the payments company's global network.
Its product, MoneyGram Ramps, is a tool that lets apps connect users to cash-to-crypto and crypto-to-cash services, a "ramp" being the bridge between traditional money and digital assets.
Solana is a blockchain network built for fast, low-cost transactions, which has made it one of the most active networks for payments, trading, and stablecoins.
"By connecting our ecosystem to MoneyGram's global payments network through MoneyGram Ramps, developers are able to more easily build financial applications with real-world utility at global scale," said Lily Liu, president of the Solana Foundation, the nonprofit that supports the network.
For Solana developers, the company said the tool is also built into the Solana Developer Platform's payments module, meaning builders can add cash-to-crypto features directly into their apps.