Remittance firm moves to process transactions and secure blockchain network
MoneyGram announced on June 22 that it has joined Solana as a validator, taking on the role of processing transactions and securing the proof-of-stake blockchain network. The move marks the latest step in the remittance firm’s multi-chain strategy to embed blockchain infrastructure into its payment operations.
The validator launch follows MoneyGram’s earlier June debut of MGUSD, a stablecoin built on the Stellar blockchain through a partnership with Stripe-owned Bridge. By operating validators across multiple networks, MoneyGram is positioning itself to support cross-chain settlement and reduce friction in global money movement.
CEO Anthony Soohoo has framed MoneyGram’s blockchain push as the product of several years of integrating the technology into its payment infrastructure, describing the company’s goal as building open, interoperable stablecoin rails accessible to anyone, anywhere.
The Solana validator role places MoneyGram alongside other institutions participating in the Solana Developer Platform, an initiative designed to help established financial firms build products on the blockchain. MoneyGram’s involvement signals growing institutional adoption of Solana’s infrastructure for payments and settlement use cases.
The remittance company’s validator strategy extends beyond Solana. MoneyGram recently joined payments-focused blockchain Tempo as an anchor validator, indicating a deliberate approach to operating across multiple blockchain networks rather than concentrating resources on a single chain.
MoneyGram’s multi-chain validator presence aligns with its broader effort to create what Soohoo describes as “open, interoperable stablecoin rails.” The MGUSD stablecoin on Stellar and the Solana validator role together form a foundation for MoneyGram to offer settlement services across different blockchain ecosystems, potentially reducing reliance on traditional correspondent banking for cross-border transactions.
The company did not disclose financial terms, stake requirements, or specific operational details of its validator infrastructure. The move reflects a wider trend among legacy payments firms to build native blockchain capabilities rather than simply integrate external protocols.
