MoneyGram Just Chose Solana for Future Payment Infrastructure

Global payments giant MoneyGram has stepped into blockchain payments by becoming a validator on the Solana network. The company also joined the Solana Developer Platform, aiming to build faster and more efficient cross-border payment services.

On June 22, MoneyGram announced it is now an active validator on Solana, allowing the company to help process transactions, stake SOL tokens, and support network security. This makes Solana the third blockchain where MoneyGram operates an official validator, alongside Tempo and the Midnight Network.

Anthony Soohoo, CEO and chairman of MoneyGram, said the company sees blockchain as increasingly important to global payments. ‘As blockchain infrastructure becomes increasingly important to global payments, we believe institutions that rely on these networks should also contribute to their security, resilience, and long-term development,’ he stated.

Joining the Solana Developer Platform gives MoneyGram access to tools and infrastructure used by developers and financial institutions building products on Solana.

The move builds on more than five years of MoneyGram’s efforts to integrate blockchain technology into real-world payment services. MoneyGram has already launched several blockchain-focused products, including its MGUSD stablecoin developed with partners such as Bridge, Crossmint, Fireblocks, M0, and Stellar. Since 2021, the company has worked with Stellar to offer stablecoin on- and off-ramp services, APIs, and in-app stablecoin balances. More recently, MoneyGram expanded its crypto services through a partnership with Kraken.

By becoming both a validator and infrastructure partner on Solana, MoneyGram gains a direct role in the network’s future while positioning itself to build new payment products on blockchain rails. For Solana, adding a global payments company with operations spanning more than 200 countries strengthens its push to attract major financial institutions seeking faster and lower-cost payment infrastructure.

Source: https://coingape.com/moneygram-just-chose-solana-for-its-future-payment-infrastructure/