MoneyGram announced on Monday that it has become a validator on the Solana (SOL) blockchain. This is the latest step in the money transfer company’s ongoing crypto infrastructure efforts to build payment services around stablecoins.
MoneyGram operates validators that help process transactions and protect Solana’s proof-of-stake network, making it a critical part of the infrastructure that keeps the network running.
The company also joined the Solana Developer Platform, an initiative aimed at helping institutions build financial products on blockchain.
The move comes weeks after MoneyGram announced its MGUSD stablecoin on the Stellar blockchain, and represents the company’s growing commitment to blockchain-based payment infrastructure. After years of integrating cryptocurrencies into money transfers and payments, MoneyGram is now taking a more active role in the networks that support those services.
“MoneyGram has spent the past few years integrating blockchain into its payments infrastructure, and everything we’re building now leverages this foundation,” CEO Anthony Sufu said in a statement. “We believe the future of global funds transfer will be built on open, interoperable stablecoin rails that are accessible to anyone, anywhere.”
