MoneyGram Makes Another Big Blockchain Move With XDC Network

The companies that moved money before blockchains existed have stopped testing them. MoneyGram is now helping to run one. The 85-year-old remittance company, which serves around 60 million customers, has joined XDC Network as an institutional validator. XDC is a Layer-1 aimed at payments, trade finance, and real-world assets. A validator confirms transactions, maintains the shared ledger, and votes on how the chain is governed. That goes beyond issuing or settling on a network, which is how most payments firms have used public blockchains so far. MoneyGram Is Moving From Using Blockchains to Running Them MoneyGram partnered with its first public blockchain in 2019, and since October 2021, it has utilized the Stellar network to convert USDC to cash and back for wallet users.

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