MoneyGram is expanding its crypto-to-cash service to include the Solana network, CoinDesk reported. The expansion would let users convert digital assets into cash through MoneyGram’s existing retail and agent locations worldwide.
MoneyGram has positioned itself as a bridge between traditional cash-based remittances and blockchain-based value transfer. The company has previously worked with other blockchain networks to let customers cash out stablecoins and other digital assets at physical locations. Adding Solana would give the company another network option for settlement.
Solana has become a popular choice among payments-focused crypto projects because of its low transaction fees and fast settlement times. Several stablecoin issuers and payment platforms have built on the network in recent years. MoneyGram’s reported move would align it with that broader trend toward using high-throughput blockchains for real-world money movement.
Crypto-to-cash services address a persistent gap between digital asset holdings and everyday spending needs. Many users acquire stablecoins or other tokens on exchanges but still need physical currency for daily transactions, especially in regions with limited banking infrastructure. MoneyGram’s global agent network, spanning tens of thousands of locations, gives it a distribution advantage that most crypto-native platforms lack.
The reported expansion comes as remittance companies face growing competition from blockchain-based alternatives that promise faster and cheaper cross-border transfers. Traditional money transfer operators have responded by integrating digital asset rails rather than treating them purely as competitors. MoneyGram’s approach appears to follow that pattern, using crypto networks as a backend while keeping cash pickup as the customer-facing service.
Details on the specific stablecoins or tokens supported through the Solana integration, timing of the rollout, and which countries would be included were not specified in the available reporting. The scope of the expansion, including whether it applies to MoneyGram’s full retail footprint or a limited pilot, also remains unclear based on current information.
Sources disagree on this story
This article was published before the reports below were compared. The reporting above stands; what follows is where the published accounts do not agree.
CoinDesk and UNLOCK Blockchain give different years for when MoneyGram's cash-to-USDC partnership with the Stellar Development Foundation began.
What all sources agree on
- MoneyGram is expanding its Ramps service to the Solana blockchain, connecting wallets, exchanges and developers on Solana to its cash network.
- Ramps supports cash deposits in more than 25 countries and cash withdrawals in more than 170 countries and territories.
- MoneyGram became a validator on the Solana network in June.
- MoneyGram launched its own dollar-backed stablecoin, MGUSD, on Stellar in June.
- The service connects to MoneyGram's network of roughly 60 million active customers.
Where the reports disagree
1Year MoneyGram's Stellar/USDC cash on/off-ramp partnership began
In 2022, it rolled out a service with the Stellar Development Foundation that allowed users to move between cash and Circle's USDC stablecoin through its retail network, giving crypto wallets a physical entry and exit point for digital dollars.
In 2021, the company partnered with the Stellar Development Foundation and Circle to connect USDC with MoneyGram's physical network, enabling consumers to convert between USDC and local cash.
What would settle it: MoneyGram's or the Stellar Development Foundation's original announcement or press release of the partnership.
What to make of it
Treat the Solana expansion, its country coverage figures, and the June Solana validator/MGUSD launch as established across sources; the exact year the earlier Stellar/USDC partnership began (2021 vs. 2022) is unresolved and should not be cited as fact until checked against the original partnership announcement.
Market Impact
If confirmed and expanded, the move could reinforce Solana's position as a settlement layer for payments and remittance use cases, adding to interest already driven by stablecoin issuers building on the network. It may also signal continued willingness among established money transfer companies to integrate crypto infrastructure rather than compete against it directly.
For now, the market impact is likely to be modest given the limited detail available about the rollout's scale and timeline. Broader implications would depend on adoption figures, transaction volume, and whether other remittance operators follow with similar blockchain integrations.
The reported expansion suggests MoneyGram continues to integrate blockchain networks into its cash-based remittance business, with further details expected as the rollout progresses.
Frequently Asked Questions
What did MoneyGram reportedly announce?
According to CoinDesk, MoneyGram is expanding its crypto-to-cash service to include the Solana network, letting users convert digital assets into physical cash.
Why would MoneyGram use the Solana network?
Solana is known for low transaction fees and fast settlement, features that make it attractive for payment and remittance applications.
Has MoneyGram worked with crypto networks before?
MoneyGram has previously offered services that let customers cash out digital assets through blockchain integrations at its retail locations.
What details are still unclear about this expansion?
The specific tokens supported, rollout timeline, and geographic scope of the Solana integration were not detailed in the available reporting.