MoneyGram has deepened its bet on blockchain rails, joining the Solana network as an active validator and signing on to the Solana Developer Platform — a move that pushes the legacy payments firm beyond its recent focus on stablecoins and customer-facing crypto services.
According to a June 22 announcement, MoneyGram now runs a live validator node on Solana: it stakes SOL, processes transaction blocks, and participates directly in the network’s consensus to help secure and optimize performance. The company also joined the Solana Developer Platform, which offers institutional-grade tools for building compliant financial products on Solana and counts partners such as Mastercard among its members.
MoneyGram frames the step as the next phase of a multi-year blockchain strategy that has been embedded in its treasury, product development, and payments operations. “Operating a validator places the company directly within Solana’s consensus process and allows it to help secure the network at the protocol level,” said Luke Tuttle, MoneyGram’s Chief Product and Technology Officer. “We help run the rails we move money on,” he added, noting MoneyGram is developing products to support movement across different forms of value.
Sheraz Shere, General Manager of Payments and Commerce at the Solana Foundation, highlighted the broader trend: as more payment flows go onchain, traditional payments firms are becoming active network participants rather than just users of blockchain services.
MoneyGram’s CEO Anthony Soohoo emphasized that blockchain infrastructure is now central to the company’s payments architecture. “We believe the future of global money movement will be built on open, interoperable stablecoin rails that anyone, anywhere can access,” Soohoo said. The company did not announce any new Solana-based products at the time but said validator participation is part of a long-term plan to support open blockchain infrastructure for cross-border transfers.
This Solana engagement follows MoneyGram’s launch of MGUSD, a U.S. dollar stablecoin issued on the Stellar blockchain on June 2. That project involved a partnership with Bridge (the reported issuer), with the mint/burn infrastructure provided by M0 and custody by Fireblocks. MGUSD adds to a broader crypto-payments playbook that includes partnerships with Stellar, Crossmint, Fireblocks and Kraken, and features services such as stablecoin remittances, crypto-to-cash withdrawals, and digital dollar products across multiple markets.
Solana becomes the third blockchain where MoneyGram operates an official validator — after roles on the Tempo blockchain and as a validator for Midnight, Cardano’s privacy-focused sidechain. From 2019 to 2021 MoneyGram also worked with Ripple using RippleNet and XRP-based On-Demand Liquidity before that collaboration ended amid the U.S. Securities and Exchange Commission’s lawsuit against Ripple.
The move underscores a strategic shift: MoneyGram is not just integrating blockchain-powered products — it’s helping run the infrastructure itself, positioning the company to shape how future global payments move on decentralized rails.
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