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MoneyGram Ramps Launch on Solana with Limited Access
MoneyGram has launched its Ramps API on the Solana blockchain, enabling cash-in and cash-out services. Rift is the first wallet to integrate this service, with developers required to add their domain to an allowlist.
AS1 NewsSource: thedefiant.io
SOLMoneyGram has extended its Ramps API, which facilitates cash-to-crypto and crypto-to-cash transactions, to the Solana blockchain. This move aims to expand the company's reach into decentralized finance ecosystems. Rift, a self-custody trading application, is currently the first Solana wallet to integrate the service, allowing users to access MoneyGram's retail cash network.
Prior to this integration, Solana wallets seeking to route users into MoneyGram's cash network had to go through additional steps or lacked direct access. The new API integration simplifies this process, potentially increasing the adoption of crypto cash services on Solana.
However, access is currently limited, as developers must add their domain to an allowlist before they can enable the on-ramp feature. This measure likely aims to control the rollout and ensure security and compliance.
The expansion signifies MoneyGram's ongoing efforts to bridge traditional financial services with blockchain technology, potentially enhancing the liquidity and usability of cryptocurrencies for everyday transactions.
The integration of MoneyGram's Ramps API on Solana could facilitate broader adoption of crypto cash services, impacting the ecosystem's infrastructure and user access.