Remittance firm MoneyGram has joined the Solana blockchain as a validator, taking part directly in Solana network security and transaction processing.
Cointelegraph reported on Sunday that MoneyGram will stake SOL and process transaction blocks through its role as a validator. It also joined Solana's developer platform.
MoneyGram said it integrated digital assets into its business about five years ago and currently uses blockchain infrastructure and stablecoins across finance, product development and payments operations. MoneyGram provides services to more than 60 million customers through about 500,000 retail locations worldwide.
MoneyGram's move to become a validator follows its launch in May of a U.S. dollar stablecoin, MGUSD, on the Stellar network. MGUSD supports users holding digital dollar balances, making international remittances and converting them into local currencies in the MoneyGram app.
Chi-gyu Hwang
delight@d-today.co.kr