MoneyGram has launched an active validator node on Solana and joined its institutional developer platform, making Solana the payments giant’s third blockchain validator commitment alongside Tempo and Midnight. The move deepens a blockchain infrastructure push that began with Stellar remittances in 2021.
MoneyGram has launched an active validator node on the Solana network and joined Solana’s institutional developer platform, marking the payments company’s third blockchain infrastructure commitment and its first direct participation in Solana consensus.
The company announced the move via press release on June 22, describing its validator as staking SOL, processing transaction blocks, and contributing to network security. MoneyGram simultaneously joined the Solana Developer Platform, an AI-ready, API-driven institutional build environment designed for compliant financial product development whose members include Mastercard. Luke Tuttle, MoneyGram’s chief product and technology officer, framed the move in operational terms: “We help run the rails we move money on.” MoneyGram serves more than 60 million active customers through nearly 500,000 retail locations, with over 70% of transactions now digital.
Solana Third After Tempo, Midnight
Solana is now MoneyGram’s third active blockchain validator position. The company serves as anchor remittance validator for Tempo and holds a validator stake on Midnight, Cardano’s privacy-focused sidechain. The trio reflects a pattern of MoneyGram placing infrastructure bets alongside payment-focused partnerships rather than simply integrating third-party rails.
Sheraz Shere, general manager of payments and commerce at the Solana Foundation, noted that MoneyGram’s “global scale and experience serving customers across markets” matches the kind of counterparty the foundation wants engaged as more payments activity shifts on-chain.
MGUSD, Stellar Context
The Solana move follows MoneyGram’s June 2 launch of MGUSD, a USD-backed stablecoin issued on Stellar via Stripe-owned Bridge. That token, described as “GENIUS Act-ready,” makes MoneyGram an issuer of a U.S. dollar token on a public chain. MoneyGram has operated on Stellar since a 2021 partnership with the Stellar Development Foundation that has since facilitated more than $4.2 billion in USDC remittance volume.
Chairman and CEO Anthony Soohoo described the company’s direction: “We believe the future of global money movement will be built on open, interoperable stablecoin rails that anyone, anywhere can access.”
SOL was trading at $71.71 at the time of the announcement.