CoinDesk
MoneyGram CEO Anthony Soohoo told CoinDesk the remittance giant is broadening its blockchain strategy beyond its long-running partnership with Stellar, taking on validator roles on Solana and Tempo as it pushes to make cross-border payments faster, cheaper and fully transparent to the 60 million active customers it serves.
The shift reframes blockchain inside MoneyGram as infrastructure rather than a consumer product. Soohoo compared the technology to the chip inside an iPhone, arguing users care whether money arrives in minutes, not which network carries it. MGUSD, the company's own stablecoin, is being built for use inside the MoneyGram ecosystem rather than for crypto traders, and Soohoo described it as part of a broader push toward vertical integration that could eventually extend into wallets, rewards and adjacent financial services.
Why it matters
MoneyGram's move signals that a top-tier traditional remittance brand is willing to bet on multiple chains at once. Stellar remains the core rail after five years of partnership, but adding Solana and Tempo validator positions gives MoneyGram optionality across ecosystems that target different throughput and cost profiles. For a company whose fees start at $1.89, even marginal improvements in settlement efficiency compound across tens of millions of transfers a year.
The strategic logic also extends to the stablecoin. By issuing MGUSD for in-house settlement, MoneyGram captures more of the economics of cross-border flow rather than paying them out to external issuers or correspondent banks. Soohoo framed the goal as becoming the primary financial institution for an underbanked customer base, using blockchain to democratize access rather than to chase speculative crypto activity.
Market impact
For Solana and Tempo, a MoneyGram validator seat is reputational capital as much as it is technical infrastructure. Validator sets gain credibility when globally recognized payment brands opt in, and the signal is constructive for both networks at a moment when traditional finance is increasingly choosing where to anchor its on-chain presence.
Frequently asked questions
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What did MoneyGram announce about its blockchain strategy?
CEO Anthony Soohoo told CoinDesk that MoneyGram is expanding its blockchain footprint beyond its long-running Stellar partnership by taking validator roles on Solana and Tempo, while building out its MGUSD stablecoin for in-house cross-border settlement.
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Why is MoneyGram adding Solana and Tempo validators?
Stellar remains the core rail, but the additional validator positions give MoneyGram optionality across chains with different throughput and cost profiles as it pushes for around-the-clock settlement and lower back-office costs.
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What is MGUSD and how does MoneyGram plan to use it?
MGUSD is MoneyGram's own stablecoin, intended primarily for use inside the company's payments ecosystem rather than for crypto traders. Soohoo described it as part of a vertical-integration push that could extend into wallets, rewards and other financial services.
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How does MoneyGram frame blockchain to its customers?
Soohoo compared blockchain to the chip inside an iPhone, arguing customers care that money arrives quickly and reliably, not which network carries it. The technology is positioned as invisible infrastructure rather than a consumer-facing feature.
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What is MoneyGram's longer-term goal with blockchain?
Over the next three to five years, Soohoo said MoneyGram wants to become the primary financial institution for its largely underbanked customer base, using blockchain and digital currencies to democratize access to financial services.
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