Global payments company MoneyGram has joined the Solana blockchain as a validator while also becoming part of the Solana Developer Platform, expanding its use of blockchain infrastructure for payment services. Solana is now the third network where the firm operates a validator, following earlier integrations with Tempo and Midnight.
As a validator, MoneyGram will stake SOL tokens to help verify transactions and support network stability. Its participation in the developer platform also gives it access to tools and infrastructure for building financial applications alongside other institutions.
MoneyGram joins Solana as validator
MoneyGram’s decision to participate as a validator on Solana underscores its growing adoption of blockchain technology for global payment services. By operating a validator node, the company will contribute directly to securing the network and validating transactions.
Through the Solana Developer Platform, MoneyGram can access development tools, infrastructure, and institutional partners that can support the creation of new financial applications and services.
Expansion of blockchain products
The move builds on MoneyGram’s broader push into blockchain-based services. In recent years, the company introduced MGUSD, a stablecoin developed with partners including Bridge, Crossmint, Fireblocks, M0, and the Stellar network.
Since 2021, it has expanded its offerings with products such as the MoneyGram Ramps API, in-app stablecoin balances, and services that enable users to convert between cash and digital assets.
Past Ripple partnership and regulatory context
MoneyGram previously worked with Ripple starting in 2019, using RippleNet and XRP-based On-Demand Liquidity for cross-border payments. The partnership handled significant transaction volumes before being suspended in 2021 after the U.S. Securities and Exchange Commission filed a lawsuit against Ripple.
The case concluded in late 2023, when a court ruled that XRP was not inherently a security when traded on public markets, though certain institutional sales violated securities laws. Asked about the possibility of renewing ties with Ripple, CEO Alex Holmes Soohoo declined to comment.
Network activity and market implications
MoneyGram’s entry comes as Solana continues to post high levels of activity. The network recorded 10.1 billion transactions in the first quarter of 2026 and averages more than 100 million daily transactions, with over 3 million active users.
Trading activity has also remained strong, with weekly spot volumes around $7.19 billion in mid-June, surpassing some centralized exchanges during that period.
Traders will likely watch whether MoneyGram’s validator role and developer platform participation lead to new applications or increased on-chain usage. At the same time, upcoming SOL token unlocks, including tranches of more than 600,000 and 200,000 tokens, could influence supply dynamics in the near term.
Explore how institutions are shaping Solana and cross-border payments—read this cross-border payments deep dive next.
Disclaimer: The content on this page is provided for general informational purposes only and does not represent the views or financial advice of Toobit. We make no guarantees regarding the accuracy or completeness of this information and shall not be held liable for any errors, omissions, or outcomes resulting from its use. Investing in digital assets involves risk; users should independently evaluate their financial situation and the risks involved. For further details, please consult our Terms of Service and Risk Disclosure.
