MoneyGram takes role validator role amid stablecoin payment push

MoneyGram said Monday it has become a validator on the Solana (SOL) blockchain, the latest step in the remittance firm’s ongoing push into crypto infrastructure as it builds payment services around stablecoins.

By operating a validator, MoneyGram will help process transactions and secure Solana’s proof-of-stake network, becoming a key part of the infrastructure that keeps the network running.

The company also joined Solana Developer Platform, an initiative aimed at helping institutions build financial products on the blockchain.

The move comes weeks after MoneyGram unveiled its MGUSD stablecoin on the Stellar blockchain, a sign of the company’s growing commitment to blockchain-based payments infrastructure. After spending several years integrating crypto into remittances and settlement, MoneyGram is now taking a more active role in the networks that support 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.”