MoneyGram joins Solana as validator amid stablecoin payment push

MoneyGram mentioned Monday it has change into a validator on the Solana (SOL) blockchain, the most recent step within the remittance agency’s ongoing push into crypto infrastructure because it builds cost companies round stablecoins.

By working a validator, MoneyGram will assist course of transactions and safe Solana’s proof-of-stake community, changing into a key a part of the infrastructure that retains the community working.

The corporate additionally joined Solana Developer Platform, an initiative aimed toward serving to establishments construct monetary merchandise on the blockchain.

The transfer comes weeks after MoneyGram unveiled its MGUSD stablecoin on the Stellar blockchain, an indication of the corporate’s rising dedication to blockchain-based funds infrastructure. After spending a number of years integrating crypto into remittances and settlement, MoneyGram is now taking a extra energetic function within the networks that help these companies.

“MoneyGram has spent the previous a number of years integrating blockchain into our cost infrastructure, and every little thing we’re constructing now leverages this basis,” CEO Anthony Soohoo mentioned in a press release. “We imagine the way forward for world cash motion shall be constructed on open, interoperable stablecoin rails that anybody, wherever can entry.”