Global payments company MoneyGram has strengthened its blockchain strategy by officially becoming a validator on the Solana blockchain and joining the Solana Developer Platform. The move marks the company’s formal entry into the Solana ecosystem and represents the third public blockchain where it operates an official validator, following its participation in Tempo and Midnight Network.
MoneyGram Chief Executive Officer and Chairman Anthony Soohoo explained that the growing importance of blockchain infrastructure in global payments has encouraged institutions that depend on these networks to actively support their security, resilience, and long-term development. He indicated that operating as a validator enables the company to strengthen the overall ecosystem while participating directly in network operations.
By becoming a Solana validator, MoneyGram will stake SOL tokens, process transaction blocks, and help improve the network’s security, stability, and overall performance.
Developer Platform Opens New Financial Opportunities
MoneyGram’s membership in the Solana Developer Platform provides access to a range of development tools that can be used to create and launch innovative financial products. The company will be able to collaborate within an ecosystem that includes major institutions such as Mastercard, expanding its ability to develop blockchain-powered payment solutions.
The latest development builds on MoneyGram’s ongoing investment in blockchain technology. Over the past several years, the company has introduced multiple blockchain-based payment products and strategic partnerships designed to improve global money transfers and digital asset accessibility.
Its MGUSD stablecoin was developed in collaboration with organizations including Bridge, owned by Stripe, along with Crossmint, Fireblocks, M0, and Stellar. Since 2021, MoneyGram and Stellar have launched stablecoin cash on-ramp and off-ramp services, introduced the MoneyGram Ramps API, and enabled in-app stablecoin balances for users.
The company emphasized that its blockchain initiatives are designed to make global money transfers faster, simpler, and more accessible rather than treating blockchain as an objective by itself.
MoneyGram also recently expanded its cryptocurrency off-ramp capabilities through a partnership with crypto exchange Kraken, further broadening its digital payments ecosystem.
Ripple Relationship and Regulatory Background
MoneyGram previously entered into a partnership with Ripple in 2019, utilizing RippleNet and XRP-based On-Demand Liquidity products. According to Ripple, the collaboration processed billions of dollars in transactions, while the company also paid MoneyGram millions of dollars in fees to support expansion into additional markets.
The partnership concluded in 2021 after the U.S. Securities and Exchange Commission filed a lawsuit against Ripple, alleging that the company had conducted a $1.3 billion unregistered securities offering through XRP sales. The legal dispute reached its final resolution late last year, leaving intact a landmark 2023 ruling that determined XRP itself is not inherently a security and that its sales on public cryptocurrency exchanges did not violate securities laws. However, Ripple’s direct sales to institutional investors were found to have violated federal securities regulations.
MoneyGram declined to comment on whether it may renew its partnership with Ripple in the future, stating that it is not in a position to discuss any potential future collaboration arrangements.
