MoneyGram has launched a validator node on the Solana blockchain and joined the network's institutional developer platform, the payments company announced on June 22. The move makes MoneyGram a direct participant in Solana's proof-of-stake consensus, staking SOL and processing transaction blocks. It is the firm's third blockchain infrastructure commitment and its first on Solana.
Infrastructure Play on Solana
MoneyGram's validator will help secure the network while the company also joins the Solana Developer Platform, an API-driven environment for building compliant financial products. Luke Tuttle, MoneyGram's chief product and technology officer, described the rationale: "We help run the rails we move money on." The company serves over 60 million active customers through nearly 500,000 retail locations, with more than 70% of transactions now digital.
Third Blockchain Validator Role
Solana is MoneyGram's third active validator position. The company already serves as an anchor remittance validator for Tempo and holds a validator stake on Midnight, Cardano's privacy-focused sidechain. The pattern reflects MoneyGram's strategy of embedding itself in blockchain infrastructure rather than simply using third-party rails. Sheraz Shere, general manager of payments and commerce at the Solana Foundation, said MoneyGram's global scale and cross-market experience make it a desirable counterparty as on-chain payments grow.
Stablecoin and Stellar Context
The Solana announcement follows MoneyGram's June 2 launch of MGUSD, a USD-backed stablecoin on Stellar issued via Stripe-owned Bridge. That token is described as compliant with the GENIUS Act framework. MoneyGram has partnered with Stellar since 2021, facilitating over $4.2 billion in USDC remittance volume. Chairman and CEO Anthony Soohoo said the company believes the future of global money movement will be built on open, interoperable stablecoin rails. SOL was trading at $71.71 at the time of the announcement.