MoneyGram has expanded its crypto-to-cash services to the Solana blockchain, enabling users worldwide to convert digital assets into cash at over 200,000 retail locations. The announcement, made on March 20, 2025, leverages Solana's high-speed, low-cost infrastructure to facilitate near-instant settlements, bridging traditional remittance networks with decentralized finance.
The service allows users to send SOL or USDC from any Solana-compatible wallet to a recipient, who then receives a notification to pick up cash in their local currency at a MoneyGram agent. Transactions are processed through MoneyGram's partnership with blockchain infrastructure firm Paxos, which handles the fiat conversion. The entire process typically completes in minutes, a stark improvement over multi-day bank transfers.
Separately, MoneyGram Ramps, the company's on/off-ramp infrastructure, is now available to Solana-based developers. This enables wallets, DEXs, and DApps to integrate direct fiat-to-crypto and crypto-to-fiat capabilities, enhancing user experience and expanding utility. The move builds on MoneyGram's earlier USDC integration with Stellar in 2022, reinforcing its multi-chain strategy.
With Solana's throughput of over 65,000 transactions per second and average fees below $0.01, the network is ideal for high-volume, low-value remittances. The integration directly addresses persistent barriers to crypto adoption—namely, the difficulty of converting digital holdings into physical currency—especially in emerging markets where remittance flows via crypto reached $1.2 billion in 2024, according to Chainalysis.
MoneyGram ensures regulatory compliance across jurisdictions, holding money transmitter licenses and implementing AML/KYC measures. The service is unavailable in countries where crypto is banned, and the company provides educational resources to mitigate security risks such as phishing and irreversible transactions.
