MoneyGram joins Solana as validator, expands blockchain payment strategy

Global payments company MoneyGram has joined the Solana network as a validator, expanding its blockchain payment strategy. This marks its third foray into blockchain infrastructure, following its involvement with Tempo and Midnight. MoneyGram will contribute to network security by staking SOL and plans to deepen its multi-year digital asset payment business, which includes its Stellar-based stablecoin, MGUSD. CEO Anthony Soohoo highlighted the move as a model for how institutions can leverage blockchain to enable faster and cheaper cross-border payments. The specific amount of SOL being staked was not disclosed.