MoneyGram, a US-based payments and remittance company, said on June 22 that it became a validator on the Solana blockchain and joined the Solana Developer Platform as it expanded its stablecoin payment services.

Solana said the platform lets enterprises and financial institutions build and scale compliant financial products on the network.

MoneyGram joined as an infrastructure partner alongside Mastercard, Worldpay, and Western Union.

Validators process transactions and help secure proof-of-stake networks such as Solana.

MoneyGram said the move followed its June 2 launch of the MGUSD stablecoin on the Stellar blockchain through Stripe-owned Bridge and reflected its strategy of building on open blockchain networks rather than relying on a single chain.

The company also recently became an anchor remittance validator for Tempo, a payments-focused layer 1 blockchain where selected institutions validate remittance transactions.

🔗 Source: CoinDesk

Recent MoneyGram developments