MoneyGram has expanded its blockchain operations by joining the Solana network as a validator, marking a deeper push into digital asset infrastructure as the payments company broadens its role beyond transaction services.
MoneyGram becomes Solana validator
The company will operate a validator node on Solana, staking SOL tokens, processing transactions, and contributing to network security. It also joined the Solana Developer Platform, gaining access to infrastructure tools to build financial services alongside other institutions.
Solana now becomes the third blockchain where MoneyGram runs an official validator, alongside Tempo and the Midnight Network. The move signals a shift from simply using blockchain rails to actively supporting the underlying systems that power them.
Broader blockchain strategy takes shape
This development is part of a wider strategy to integrate digital assets into cross-border payments. MoneyGram recently launched its MGUSD stablecoin on the Stellar network in June 2026, working with partners including Bridge, Crossmint, Fireblocks, M0, and Stellar.
Its partnership with Stellar dates back to 2021, when the two companies introduced on- and off-ramp services such as the MoneyGram Ramps API and in-app stablecoin balances. The firm has since expanded its off-ramp capabilities through additional partnerships that enable crypto-to-cash withdrawals.
MoneyGram has also taken a multi-chain approach, including a May 2026 agreement with Tempo, where it acts as an anchor remittance validator.
Past Ripple ties remain uncertain
The company previously partnered with Ripple in 2019, using RippleNet and XRP-based On-Demand Liquidity to process billions of dollars in transactions. Ripple paid $16.6 million in incentives in early 2020 to expand adoption.
That relationship ended in 2021 following a lawsuit by the U.S. Securities and Exchange Commission, which alleged Ripple conducted an unregistered $1.3 billion securities offering. A 2023 court ruling clarified that XRP is not a security in public sales, though institutional sales violated federal law. The case concluded in 2025, and while Ripple has indicated openness to renewing past partnerships, MoneyGram has not confirmed any renewed collaboration.
Solana gains institutional participation amid network shifts
MoneyGram’s entry comes as Solana experiences a decline in validator numbers, dropping from around 2,500 in early 2023 to fewer than 900 recently. Some network participants argue that the reduction has improved performance by filtering out weaker operators.
At the same time, Solana’s native token has faced pressure, falling 23% month-to-date in June, reflecting bearish sentiment in prediction markets.
Even as prices weaken, the addition of a global payments company may be seen by traders as a structural endorsement of Solana’s technology. Attention in the near term is likely to focus on whether this participation drives higher transaction volumes or improves network stability.
Focus on remittances and open payments
MoneyGram has indicated its long-term goal is to build an open payments network connecting fiat currencies and stablecoins, with a particular emphasis on remittance use cases.
A multi-year extension of its partnership with the Stellar Development Foundation, announced in April 2026, aims to scale stablecoin services in Latin America. The initiative is already active in Colombia and El Salvador, with further regional expansion planned.
Explore how traditional finance meets Solana: discover cross-border payments trends shaping blockchain remittances.
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