MoneyGram has joined the Solana network as an active validator, expanding its blockchain payments strategy. The global payments company said the move supports its work on stablecoin-based fin
MoneyGram has joined the Solana network as an active validator, expanding its blockchain payments strategy. The global payments company said the move supports its work on stablecoin-based financial infrastructure. MoneyGram also joined the Solana Developer Platform, where institutions can build compliant financial products. The update makes Solana the third blockchain where MoneyGram operates an official validator, alongside Tempo and Midnight Network.
MoneyGram’s validator role allows the company to stake SOL, process transaction blocks, and support network security. The company said the role gives it direct participation in Solana’s proof-of-stake system. Validators help confirm transactions and keep the blockchain operating under Solana’s consensus process.
MoneyGram Chairman and CEO Anthony Soohoo said institutions using blockchain networks should also support their security and development. He said MoneyGram views blockchain as a tool for faster and simpler money movement. His comments connected the validator role to the company’s wider payments plan.
BREAKING: MoneyGram becomes a Solana validator as it expands its blockchain payments strategy, per The Block. pic.twitter.com/TZb65gvE0G
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The company said its Solana entry follows more than five years of blockchain work across treasury, product development, and payment operations. MoneyGram has focused on systems that can handle both fiat currency and stablecoins. That approach supports payment rails that work across different forms of money.
MoneyGram joined the Solana Developer Platform as part of its entry into the ecosystem. The platform gives institutions tools to design, build, and scale financial products on Solana. MoneyGram joins other early participants, including Mastercard, as Solana targets more payment use cases.
Luke Tuttle, MoneyGram’s chief product and technology officer, said the validator role places MoneyGram inside Solana’s consensus process. He said the company can help run the same rails that may support future money movement. He also said the Developer Platform will support work on smoother payments for users.
Sheraz Shere, general manager for payments and commerce at Solana Foundation, said MoneyGram’s decision reflects deeper Solana engagement. He said companies with global reach are exploring Solana as more payment activity moves onchain. The comments came as more institutions test blockchain tools for settlement and customer-facing products.
MoneyGram has already launched several blockchain-based payment services and partnerships. Its MGUSD stablecoin involves partners such as Bridge, Crossmint, Fireblocks, M0, and Stellar. Since 2021, MoneyGram and Stellar have worked on stablecoin cash on-ramps, off-ramps, API tools, and app balances.
The company also expanded off-ramp services through a recent partnership with Kraken. These services let users move between stablecoins and cash in supported markets. MoneyGram said it treats blockchain as infrastructure for money movement, not as an end product.
MoneyGram previously worked with Ripple through RippleNet and XRP-based On-Demand Liquidity products. That partnership ended in 2021 after the U.S. Securities and Exchange Commission sued Ripple. When asked about a possible future Ripple partnership, Soohoo said the company could not comment on future arrangements.
MoneyGram said stablecoin rails may form part of the future structure for global payments. The company said compliance, regulatory clarity, and operating scale remain central to that work. Its Solana validator role now gives MoneyGram a protocol-level position while it develops blockchain-based payment tools.
MoneyGram serves more than 60 million active customers through retail locations and digital channels worldwide. Its network includes nearly half a million retail locations and a growing digital channel.
This article was originally published as MoneyGram Adds Solana Validator Role to Support Blockchain Payments Strategy on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.
