MoneyGram said Monday that it has become a validator on the Solana (SOL) blockchain, the latest step in the remittance company’s continued 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 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 settlements, MoneyGram is now taking a more active role in the networks that support these services.
“MoneyGram has spent the past several years integrating blockchain into its payments infrastructure, and everything we build now builds on that foundation,” CEO Anthony Soohoo said in a statement. “We believe the future of global monetary movement will be built on open, interoperable stable rails that anyone, anywhere can access.”
