MoneyGram said on Monday it has become a validator on the Solana (SOL) blockchain, expanding its role in crypto infrastructure as the remittance company ramps up its stablecoin payments strategy.
By operating a validator, MoneyGram will help process transactions and secure Solana’s proof-of-stake network, making it part of the infrastructure that supports the blockchain’s operations. The company has also joined the Solana Developer Platform, an initiative designed to help institutions build financial applications on the network.
The move comes just weeks after MoneyGram launched its MGUSD stablecoin on the Stellar blockchain, underscoring its growing focus on blockchain-based payments. After years of integrating digital assets into its remittance and settlement services, the company is now taking a more active role in the blockchain networks powering those services.
”MoneyGram has spent the past several years integrating blockchain into our payment infrastructure, and everything we are building now leverages this foundation,” CEO Anthony Soohoo said in a statement. ”We believe the future of global money movement will be built on open, interoperable stablecoin rails that anyone, anywhere can access.”
MoneyGram said its latest move reflects a broader strategy of supporting multiple blockchain networks rather than relying on a single ecosystem.
MGUSD was launched on the Stellar blockchain through a partnership with Stripe-owned Bridge. The company has also joined payments-focused blockchain Tempo as an anchor validator, further expanding its presence in blockchain infrastructure.
Featured image from: reddit.com