MoneyGram Becomes Solana Validator to Expand Blockchain Strategy
BITmarkets Team
Jul 02, 2026
As a validator, MoneyGram stakes Solana’s native SOL token and validates transaction blocks across the network. The company has also joined the Solana Developer Platform, an initiative that supports organizations building financial applications on the blockchain. According to MoneyGram, blockchain technology and stablecoins are now integrated across its treasury operations, product development and payment services following more than five years of incorporating digital assets into its business. The company currently serves more than 60 million customers through nearly 500,000 retail locations worldwide.
The move follows the launch of MGUSD, MoneyGram’s US dollar-backed stablecoin on the Stellar network, introduced in May. The stablecoin enables users to hold digital-dollar balances, send cross-border payments and convert funds into local currencies through the MoneyGram app.
Stablecoins continue transforming global remittances
MoneyGram’s latest initiative comes as stablecoins gain momentum throughout the remittance industry, with major payment providers increasingly adopting blockchain infrastructure for international transfers. In May, Western Union launched its dollar-backed stablecoin USDPT on Solana. Initially available in Bolivia and the Philippines, the company plans to expand the service to more than 40 countries during 2026.
Speaking at Bitso’s stablecoin conference in Mexico City, Western Union’s vice president of Digital Assets, Malcolm Clarke, explained that stablecoins could significantly improve the economics of global remittances. According to Clarke, Western Union processes more than $100 billion in annual transaction volume, while prefunding requirements, idle capital and banking fees currently consume between 6% and 9% of those flows. He said using stablecoins for settlement, combined with returns generated from reserve assets backing those tokens, could instead generate profit margins of approximately 2% to 3%.
Stablecoin adoption extends beyond remittances
Stablecoins are also becoming increasingly important for treasury management and cross-border settlements. According to Bitso’s Stablecoin Landscape in Latin America report for the first half of 2026, stablecoin transaction volumes among the exchange’s institutional clients increased 81% year over year. The growth has been driven by demand for liquidity management, international payments and treasury operations.
The trend is also accelerating in Africa. Last week, Ripple acquired a stake in fintech company Flutterwave, a cross-border payments provider operating across 35 African countries. As part of the partnership, Flutterwave plans to integrate Ripple’s RLUSD stablecoin, Ripple Payments, and the XRP Ledger into its payment infrastructure, further highlighting the growing role of stablecoins in global payment networks.
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