MoneyGram named 'anchor remittance validator' for Stripe-backed Tempo blockchain

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.

Last month, Tempo unveiled "Zones," a key privacy feature allowing companies to launch permissioned blockchains on top of the Tempo mainnet, to support use cases like payroll, treasury, and settlements. It also partnered with DoorDash to support stablecoin payments.

The network is also reportedly working with firms including OpenAI, Shopify, Anthropic, and Deutsche Bank.

MoneyGram has leaned into crypto in recent years, including as a global fiat offramp, particularly through a recently announced partnership with Kraken. It has tapped Fireblocks to power stablecoin settlements for global wires.

"MoneyGram has long served as critical infrastructure powering global money movement," MoneyGram CEO Anthony Soohoo said in a statement. "Tempo, as a purpose-built blockchain that shares our focus on solving real consumer problems, is a natural partner and a direct expression of that commitment."