MoneyGram joins Solana as a validator and developer platform partner, deepening its blockchain strategy after years of working with Ripple and Stellar on global payments.
The global payments giant MoneyGram has chosen Solana to become an active validator on the Solana blockchain. The company also announced its joining of the Solana Developer Platform.
This sudden move comes after spending years building payment services with Ripple and Stellar.
In a recent tweet post, MoneyGram announced that it has become an active Solana validator. By becoming a validator, MoneyGram is now helping operate the Solana blockchain itself. Validators process transactions, verify blocks, and help secure the network.
In return, they earn rewards while supporting the blockchain's overall performance.
Luke Tuttle, MoneyGram's chief product and technology officer, said the company wants to help run the same infrastructure that powers its future payment services.
"Running a validator puts MoneyGram inside Solana's consensus," Tuttle said. "We help run the rails we move money on."
The move makes Solana the third blockchain where MoneyGram operates an official validator, joining Tempo and Midnight Network.
MoneyGram has spent more than five years building blockchain technology into its payment systems. During that time, the company worked with several major crypto networks to improve cross-border transfers and stablecoin services.
According to CEO Anthony Soohoo, blockchain has never been viewed as a separate business for MoneyGram.
Instead, the company sees blockchain as a tool that can make global money movement faster, cheaper, and easier to access.
Solana's high transaction speeds and low fees appear to fit that vision. Also, the blockchain regularly processes thousands of transactions per second while maintaining transaction costs that are often measured in fractions of a cent.
MoneyGram's blockchain journey began long before its recent Solana announcement.
In 2019, the company partnered with Ripple and used RippleNet alongside XRP-powered On-Demand Liquidity services. Ripple later revealed that billions of dollars in transactions were processed through the partnership.
The relationship ended in 2021 after the U.S. Securities and Exchange Commission filed its lawsuit against Ripple.
However, MoneyGram never abandoned blockchain. Instead, it expanded its work with Stellar. Since 2021, the company and Stellar have launched stablecoin on-ramp and off-ramp services, digital wallet integrations, and payment APIs that connect traditional finance with blockchain networks.
More recently, MoneyGram introduced its own stablecoin initiative through MGUSD, working with partners including Bridge, Crossmint, Fireblocks, M0, and Stellar.
The company also partnered with Kraken to expand stablecoin cash-out services globally.
Just a few years ago, many traditional financial firms viewed blockchain as an experiment. Today, some of the world's largest payment companies are becoming direct participants in blockchain networks.
Sheraz Shere, general manager of payments and commerce at the Solana Foundation, said MoneyGram's participation reflects a broader trend as payment activity increasingly moves on-chain.
The company believes future payment systems will be built on open and interoperable stablecoin rails rather than closed banking networks.
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