MoneyGram was named the "Anchor Remittance Validator" for Tempo, the blockchain co-developed by Stripe and Paradigm.
As part of its role, MoneyGram will validate remittance transactions on the Layer 1 blockchain and integrate stablecoin settlement, including with Stripe, for its global flows, according to an announcement on Wednesday.
"Tempo is built for institutions powering everyday payments," Matt Huang, Tempo founder and managing partner of Paradigm, said. "MoneyGram's role as a validator brings deep global payments expertise to the network and helps connect stablecoin settlement with real-world use."
MoneyGram was named as one of Tempo’s initial cast of corporate validators, including Stripe, Visa, and Zodia Custody, which is now being absorbed into Standard Chartered.
Tempo mainneted in mid-March, after raising a $500 million Series A in October. The blockchain is designed to support stablecoin transactions and swaps, and is targeting use cases like remittances, retail commerce, and corporate treasury management.
