MoneyGram has joined the Tempo blockchain network as an anchor remittance validator, supporting stablecoin settlement and transaction validation for cross-border payments. This move marks MoneyGram’s deeper involvement in blockchain infrastructure beyond using existing networks, positioning the company at the forefront of remittance innovation through stablecoins.

Tempo, a Layer 1 blockchain incubated by Stripe and Paradigm, focuses on stablecoin transfers and streamlining international payments. As part of this strategic alignment, Stripe plans to settle transactions with MoneyGram via the Tempo platform, aiming to transition treasury and payment systems onto efficient stablecoin rails. Earlier, Visa also became an early validator on Tempo alongside Stripe and Zodia Custody, demonstrating growing industry support for blockchain-based remittances.

Stablecoins have gained recognition as a tool to address inefficiencies in cross-border payments. The US Federal Reserve described the remittance sector as slower, costlier, and less transparent compared to domestic payments—problems stablecoin solutions seek to resolve. Against this backdrop, major remittance operators like MoneyGram and Western Union are accelerating their blockchain initiatives.

MoneyGram’s expanding blockchain engagement includes a recent partnership with crypto exchange Kraken, enabling users to convert digital assets into cash for in-person pickup across MoneyGram’s retail network. Kraken plans to extend this service to bank deposits and cross-border payouts. Meanwhile, Western Union launched its Digital Asset Network with Crossmint, integrating stablecoins into its payout infrastructure. It recently introduced the USD-pegged USDT token on Solana blockchain, initially targeting markets in Bolivia and the Philippines, with plans to scale to more than 40 countries.

The growing use of stablecoins is particularly noticeable in Latin America, where remittances form a significant portion of household income. Data from the Mexico-based exchange Bitso revealed stablecoins accounted for 40% of crypto purchases in 2025, overtaking Bitcoin for the first time on the platform serving nearly 10 million users. Despite demand, traditional remittance services still face high fees—World Bank data showed global average fees exceeding 6%, double the UN target, underscoring the need for more affordable alternatives.