The peer-to-peer payments firm MoneyGram is joining the Solana (SOL) Network as an active validator.
MoneyGram will also join the Solana Developer Platform (SDP), following in the footsteps of Mastercard, Worldpay and Western Union, per a Solana Foundation announcement.
MoneyGram has invested in blockchain technology and partnered with crypto firms for years, collaborating with the digital asset exchange Kraken as recently as last month.
MoneyGram chief executive Anthony Soohoo says the Solana partnership represents the latest step in integrating blockchain into the firm’s payment infrastructure.
“We believe the future of global money movement will be built on open, interoperable stablecoin rails that anyone, anywhere can access. Building that future requires compliance, regulatory clarity and operational scale. MoneyGram brings all three. We’re helping make blockchain infrastructure a core part of global money movement.”
Catherine Gu, the Solana Foundation’s head of product (digital assets), says MoneyGram brings one of the most expansive global payment networks to the SDP.
“Built over 85 years, MoneyGram serves more than 60 million active customers through nearly half a million retail locations and billions of digital endpoints. Through SDP, they can further extend that network on-chain–making money movement seamless for their customers wherever they are and in whatever form of money they need.”
Solana’s native asset, SOL, is trading at $72.66 at time of writing. The 7th-ranked crypto asset by market cap is down more than 2% in the past 24 hours and nearly 3.5% in the past week.
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