MoneyGram CEO: blockchain for remittances should stay invisible, using Stellar, Solana validators and MGUSD

MoneyGram CEO Anthony Soohoo says the company’s blockchain strategy works best when customers don’t need to understand the technology. In a CoinDesk interview, he said blockchain is being used to modernize cross-border payments for MoneyGram’s ~60 million active customers—aiming for faster settlement, lower costs and more transparency. Soohoo framed blockchain as operational infrastructure rather than a consumer feature, comparing it to the processor inside a phone: users only care that payments are quicker and reliable. He argued that legacy remittances often depend on banking hours and intermediaries, creating multi-day settlement delays and higher fees. MoneyGram expects blockchain-enabled infrastructure to support around-the-clock settlement and reduce back-office costs (fees currently start around $1.89 and vary by destination). MoneyGram’s blockchain footprint remains centered on Stellar, which has supported its initiatives for about five years. The company is also expanding by becoming a validator on Solana and Tempo. In parallel, MoneyGram introduced MGUSD as a stablecoin designed primarily for use inside its own payments ecosystem, to improve cost control and enable future products such as wallets and rewards. Soohoo also said he sees blockchain and digital currencies as a bigger opportunity than he initially expected, while warning many institutions focus on announcing products instead of solving customer problems. Over 3–5 years, MoneyGram’s goal is to become a primary financial provider for underbanked customers, using blockchain as one technology to democratize access to financial services.