MoneyGram has officially joined the Solana blockchain as a validator, according to statements by its CEO Anthony Soohoo to The Block. Solana thus becomes the third network on which the American company operates in this role, after Tempo and Midnight Network. The momentum is accelerating, but how far will it go?
In brief
- MoneyGram now operates a validator on Solana, its third validation blockchain alongside Tempo and Midnight Network.
- As a validator, MoneyGram locks up SOL tokens, processes transaction blocks and contributes to network security.
- The company has been developing blockchain products for more than five years, notably through its stablecoin MGUSD and a historic partnership with Stellar active since 2021.
MoneyGram anchors itself in Solana infrastructure
MoneyGram is not only using blockchain networks: it is now actively participating in them. By becoming a validator on Solana, the company acquires a direct operational role: immobilization of SOL tokens, processing of transaction blocks, contribution to the resilience of the network.
Her membership to the Solana development platform also gives it access to tools to design financial products alongside institutions like Mastercard.
“ By becoming a validator, MoneyGram contributes to the solidity of the ecosystem in the long term “, said Anthony Soohoo, CEO of the company, in comments reported by The Block.
This anchor is part of a broader crypto strategy supported by traditional payments players. For Soohoo, the institutions that rely on these networks have a responsibility to contribute to them.
Five years of blockchain construction, from Stellar to Kraken
This is not a last minute conversion. MoneyGram has been working on concrete blockchain payment solutions since 2021, when it launched entry and exit gateways for stablecoin transactions with Stellar.
However, the strategy has since been greatly expanded. Its stablecoin MGUSD today brings together partners like Bridge (owned by Stripe), Crossmint, Fireblocks, M0 and Stellar. A recent partnership with Kraken has also expanded its output capabilities. The MoneyGram Ramps API and in-app display of stablecoin balances complete this ecosystem.
The company also maintains a liability with Ripple. After a collaboration initiated in 2019 via RippleNet and XRP-based liquidity products, the partnership ended in 2021, in the wake of the proceedings initiated by the SEC against Ripple for unregistered securities offering.
The case found a favorable outcome for Ripple at the end of 2024, particularly on the question of the status of XRP on public markets. Asked about a possible return to collaboration, Soohoo indicated that it could not comment on future agreements.
In short, MoneyGram's trajectory speaks for itself. Five years after its first steps on Stellar, the company is now integrated into the heart of the Solana infrastructure. Proprietary stablecoin, diversified partnerships, role of validator: the bricks come together methodically. In a sector where the tokenization of international payments is accelerating, MoneyGram is no longer an observer.
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