Global payments giant MoneyGram has unveiled MoneyGram Ramps, a new developer-focused API designed to seamlessly integrate cash and cryptocurrency transactions. The company announced the launch during the Formula One weekend in Miami, highlighting its ambition to connect traditional finance with the burgeoning digital economy.
MoneyGram Ramps offers a streamlined solution for wallets, exchanges, and fintech applications to embed cash-to-crypto and crypto-to-cash functionalities with minimal coding. This single integration provides access to MoneyGram’s extensive global network, enabling cash deposits in over 30 countries and withdrawals in more than 170.
“With this launch, MoneyGram is quickly becoming the connective tissue between traditional finance and the digital economy,” stated Anthony Soohoo, MoneyGram CEO. He emphasized the platform’s ability to simplify integration and provide access to “the world’s largest cash on/off-ramp for digital wallets.”
The new API aims to solve a key challenge for developers seeking to bridge the gap between physical and digital currencies. According to Luke Tuttle, MoneyGram CTO, “MoneyGram Ramps is that missing link, significantly cutting development time while maintaining – and even strengthening – our robust compliance standards.”
MoneyGram highlights the dramatic reduction in deployment time, from months to mere minutes in some cases. The platform also emphasizes its commitment to maintaining rigorous compliance standards while introducing new regulatory features.
Built with developers in mind, MoneyGram Ramps offers instant API credentials and sandbox access, comprehensive documentation, and SDKs. The platform is powered by the Stellar blockchain, Circle’s USDC stablecoin, and MoneyGram’s global network.
“This solution was built for usability and access,” Tuttle added, noting its potential to empower the creation of financial tools for everyone, including the significant portion of the global population still reliant on cash.
