In a CoinDesk interview, MoneyGram's CEO Anthony Soohoo explained how the company's blockchain strategy has progressed from initial trials to a comprehensive approach aimed at modernizing its global payment systems.
By Margaux Nijkerk|Edited by Cheyenne Ligon Jul 21, 2026, 1:38 p.m. 3 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShow- MoneyGram CEO Anthony Soohoo stated that the company's blockchain initiatives aim to enhance cross-border payments by utilizing blockchain technology to make remittances quicker, more affordable, and transparent, while keeping the technology behind the scenes for customers.
- Although Stellar continues to be a primary blockchain partner, MoneyGram is broadening its blockchain presence by taking validator positions on Solana and Tempo, and views its MGUSD stablecoin as a means to create additional financial offerings within its ecosystem.
MoneyGram has dedicated several years to exploring blockchain technology, with CEO Anthony Soohoo noting the revelation that it is most effective when customers are unaware of its presence.
In his discussion with CoinDesk, Soohoo highlighted that the company's blockchain strategy has shifted from initial tests to a more expansive initiative to upgrade its global payment infrastructure. The remittance giant, catering to about 60 million active users, perceives blockchain not as a visible feature for consumers, but as a tool to enhance the speed, cost-efficiency, and transparency of cross-border payments.
"The goal is to utilize technology to operate our business more efficiently and effectively," Soohoo remarked. "The question is what our customers need and how we can address that for them."
MoneyGram's clientele mainly consists of individuals sending money to family and friends overseas, making speed and cost critical factors. Conventional cross-border payments may take several days to finalize and often depend on banking hours and multiple intermediaries, resulting in a cumbersome and costly experience. However, the company believes blockchain can simplify this by facilitating continuous settlement and reducing operating expenses, which they hope to eventually pass on to customers.
In its efforts to modernize and better serve its customers, MoneyGram has partnered with the Stellar network, which has been fundamental to many of its blockchain projects over the past five years. Additionally, the company is exploring other networks: while Stellar remains a key partner, MoneyGram has also become a validator on Solana and Tempo. For MoneyGram, the immediate benefits lie not in speculative crypto trading but in replacing outdated financial systems.
Current cross-border settlements still largely rely on banking hours and weekday processing. Soohoo argued that blockchain-based systems allow for real-time settlements at any time, which can lower operational costs and enhance customer satisfaction.
"If executed correctly, we can achieve all three objectives," he stated, referring to saving customers time, effort, and money. Instant settlements also enable MoneyGram to cut back-office expenses, savings that they aim to eventually translate into lower fees for customers. Currently, MoneyGram's fees begin at $1.89 and vary based on the destination country.
Soohoo believes that consumers do not need to grasp the underlying technology that enables these enhancements. He likened blockchain to the processors found in Apple’s iPhone.
"I can't tell you what processor is inside my iPhone," he noted. "I just know it operates faster." Similarly, he contended, remittance customers care more about the speed and reliability of their money transfers than the fact that the transactions utilize blockchain technology.
This perspective also informs the firm’s recent stablecoin initiative. Instead of creating a token aimed at institutional investors or crypto traders, MoneyGram's MGUSD is designed primarily for transactions within its own payment ecosystem. Soohoo mentioned that owning the infrastructure provides MoneyGram with better control over costs and future service development, including wallet functionalities, rewards initiatives, and other financial solutions.
"If someone is transferring money from MoneyGram to MoneyGram, why shouldn’t it be our own coin?" he commented, framing the stablecoin as part of a larger strategy for vertical integration.
Having joined MoneyGram approximately 18 months ago following his tenure leading digital transformations at Walmart, Soohoo expressed that his understanding of blockchain has deepened since joining the company.
"The potential of blockchain and digital currencies is actually greater than I had expected," he remarked. Nonetheless, he cautioned that many financial institutions tend to focus excessively on launching blockchain initiatives rather than addressing customer needs. "The prevailing misunderstanding...is that they become preoccupied with the product," Soohoo stated. "These discussions are about infrastructure, not consumer engagement."
Ultimately, MoneyGram's aspirations with blockchain extend beyond remittances. Over the next three to five years, Soohoo indicated that the company aims to become the primary financial service provider for its customers, many of whom are underserved, leveraging blockchain as one of the tools to enhance access to financial services.
"Our ambition would be to democratize finance for the MoneyGram customer," he concluded.
Read more: MoneyGram launches stablecoin on Stellar, joining rush toward digital dollar payments
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TRON Network - Q2 2026
TRON Network - Q2 2026
In Q2; TRON's stablecoin dominance rose to 28.7%, USDT supply on TRON hit $89B ATH, $89M in protocol fees (2nd to Hyperliquid), TRX +3%, and deepening institutional & agentic reach.
By CoinDesk Research1 hour agoCommissioned byTronIn Q2; TRON's stablecoin dominance rose to 28.7%, USDT supply on TRON hit $89B ATH, $89M in protocol fees (2nd to Hyperliquid), TRX +3%, and deepening institutional & agentic reach.
Why it matters:
In Q2; TRON's stablecoin dominance rose to 28.7%, USDT supply on TRON hit $89B ATH, $89M in protocol fees (2nd to Hyperliquid), TRX +3%, and deepening institutional & agentic reach.
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