MoneyGram named anchor validator for Stripe-backed Tempo

MoneyGram will serve as the anchor remittance validator for Tempo, the Layer 1 blockchain co-developed by Stripe and Paradigm, the companies announced Wednesday. The role gives MoneyGram authority to validate remittance transactions on Tempo’s mainnet and to connect stablecoin settlement rails, including flows routed through Stripe, to its global payment network.

Tempo launched its mainnet in mid-March after a $500 million Series A round in October. The network supports stablecoin transfers and swaps for cross-border remittances, retail payments and corporate treasury operations.

Founding network participants include Stripe, Visa and Zodia Custody, which is being integrated into Standard Chartered. Tempo introduced a privacy feature called Zones that lets companies run permissioned chains on top of the mainnet for use cases such as payroll, treasury and settlement. The network has announced pilots and partnerships with commerce and payments firms to test stablecoin rails.

As an initial corporate validator, MoneyGram will validate transactions at the Layer 1 level and integrate its existing settlement capabilities to move funds between stablecoins and fiat rails. The validator role places MoneyGram alongside other institutional participants that secure the network and connect blockchain settlement to traditional payment corridors.

Matt Huang, Tempo founder and managing partner at Paradigm, wrote in the announcement that “Tempo is built for institutions powering everyday payments” and that MoneyGram brings “deep global payments expertise” to the network.

MoneyGram has expanded crypto-related services in recent years. The company acts as a fiat off-ramp for exchanges, selected custody and settlement providers for stablecoin transfers, engaged Fireblocks to facilitate stablecoin settlement for global wires and established an arrangement with Kraken to enhance on- and off-ramp capabilities.

Anthony Soohoo, MoneyGram’s chief executive, added that the Tempo partnership aligns with the firm’s payments infrastructure strategy and described Tempo as a blockchain that shares MoneyGram’s focus on solving consumer payment problems.

The companies did not disclose financial terms for MoneyGram’s validator role. The partnership is intended to test how stablecoin settlement can move funds across global remittance corridors while supporting permissioned enterprise environments on Tempo.