MoneyGram Brings Global Cash Network to Solana Ecosystem
MoneyGram has partnered with Solana to integrate its global cash network into the blockchain ecosystem. This move will enable wallets, exchanges, and other applications to connect digital assets with physical cash. Developers can use MoneyGram's rails to enable cash deposits in over 25 countries and withdrawals across more than 170 territories.
MoneyGram will handle identity verification, compliance, settlement, and fiat payouts. The company is acting as a bridge between blockchain-based assets and the traditional cash economy. This integration is significant because of MoneyGram's past partnerships with Ripple and Stellar.
The first Solana wallet to integrate the service is Rift, according to MoneyGram's announcement. In the past, MoneyGram was one of Ripple's most prominent commercial partners but later became a major participant in Stellar's stablecoin ecosystem before expanding its infrastructure onto Solana.