MoneyGram said Monday it has become a validator on the Solana (SOL) blockchain, the latest step in the remittance company’s continued push into crypto infrastructure as it builds payment services around stablecoins.
By using a validator, MoneyGram helps process transactions and secure Solana’s proof-of-stake network, making it an important 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 the blockchain.
The move comes weeks after MoneyGram unveiled its MGUSD stablecoin on the Stellar blockchain, a sign of the company’s growing commitment to blockchain-based payments infrastructure. After spending several years integrating crypto into money transfers and payments, MoneyGram is now taking a more active role in the networks that support these services.
“MoneyGram has been integrating blockchain into our payments infrastructure in recent years, and everything we build now leverages this foundation,” CEO Anthony Soohoo said in a statement. “We believe the future of the global money movement will be built on open, interoperable stablecoin rails that anyone, anywhere can access.”