MoneyGram deepens blockchain integration by becoming a Solana validator

Operating active nodes on Solana, Tempo, and the Cardano sidechain Midnight, MoneyGram is now directly contributing to the security and block processing of the networks it uses for remittances. Luke Tuttle, the company’s Chief Product and Technology Officer, noted that this move allows the firm to help manage the literal rails upon which its money moves, integrating the company into the core protocol level of Solana. Alongside its validator status, MoneyGram has joined the Solana Developer Platform to build compliant financial products, placing it in a cohort of institutional participants that includes Mastercard.

This infrastructure play follows the June 2 launch of the company’s own stablecoin, MGUSD, issued on Stellar in partnership with Bridge. While the firm currently holds no new payment products specifically tied to Solana, leadership views this participation as a foundation for long-term global money movement. CEO Anthony Soohoo emphasized that the company’s strategy centers on open, interoperable stablecoin rails, marking a definitive move away from its previous reliance on proprietary systems like the RippleNet partnership that concluded in 2021.