MoneyGram said on Monday that it has become a validator of the Solana (SOL) blockchain, the latest step in the remittance company’s continued push into crypto infrastructure while building payment services around stablecoins.
By operating a validator, MoneyGram will help process transactions and secure the Solana proof-of-stake network, becoming a key part of the infrastructure that keeps the network running.
The company also joined the Solana Developer Platform, an initiative aimed at helping institutions create financial products on blockchain.
The move comes weeks after MoneyGram unveiled its MGUSD stablecoin on the Stellar blockchain, a sign of the company’s growing commitment to blockchain-based payments infrastructure. After spending several years integrating cryptocurrencies into remittances and settlement, MoneyGram is now taking a more active role in the networks that support those services.
“MoneyGram has spent the last few years integrating blockchain into our payments infrastructure, and everything we are building now leverages this foundation,” CEO Anthony Soohoo said in a statement. “We believe the future of the global monetary movement will be built on open, interoperable stablecoin rails that anyone, anywhere can access.”
