MoneyGram Joins Solana as Validator, Toss Bank Signs MOU as SOL Holds $73

Solana News

MoneyGram has become a validator on the Solana network, moving from blockchain user to active operator of the proof-of-stake infrastructure. The remittance giant is staking SOL, processing transaction blocks and helping secure the chain, while also joining the Solana Developer Platform that helps institutions build on-chain financial products. The step follows the recent launch of its MGUSD stablecoin on Stellar through Stripe-owned Bridge, and an anchor validator role on payments network Tempo. Serving more than 60 million customers across roughly 500,000 retail locations, the company says open, interoperable stablecoin rails now underpin its treasury, product and settlement operations.

Solana is also pushing into Korean banking after the Solana Foundation signed a memorandum of understanding with Toss Bank, one of the country’s three largest internet-only lenders. Toss Bank serves about 15 million customers and already runs cross-border transfers across 30 countries and seven major currencies. The partnership centers on four tracks: a Solana-based remittance proof-of-concept, joint research on blockchain payment models, exploration of stablecoin and tokenized-asset services, and integration with overseas banking and AML/KYC systems. Operator Viva Republica is preparing a 2026 US listing targeting a valuation above $10 billion, repositioning itself as a global payments company rather than a domestic fintech.

On the market side, SOL reclaimed the $74 region, rising about 1.09% over 24 hours to near $74.31 with a market capitalization around $43 billion. Trading volume topped $2.2 billion, an 8.23% daily increase, yet the activity was overwhelmingly centralized: virtually the entire turnover originated on centralized exchanges, while decentralized venues recorded only a few thousand dollars. With 1,141 active trading pairs across major platforms, the data underscores how concentrated SOL liquidity remains. Despite the bounce, the altcoin is still down roughly 10% over the past month, leaving the medium-term correction firmly intact.

Tokenization momentum deepened as 118-year-old Edinburgh asset manager Baillie Gifford unveiled the Baillie Gifford Enhanced Yield Fund, built on both Ethereum and Solana in partnership with custody giant BNY. The dollar-denominated product gives eligible investors exposure to an actively managed, short-duration portfolio of corporate bonds, currently yielding around 7%, through a UK-regulated open-ended investment company. Executives stressed the fund is issued directly on-chain rather than wrapped, with the blockchain acting as the register of record and investors holding direct ownership. BNY supplies tokenization and wallet infrastructure, NatWest serves as depositary, and distribution covers the UK, Switzerland and Cayman Islands.

On the regulatory front, the head of a Solana policy institute told a Seoul forum that the US Senate is expected to take up the CLARITY Act in earnest late next month. The market-structure bill has cleared the Senate Banking Committee but stalled over ethics provisions and unresolved digital-asset issues. Alongside the GENIUS stablecoin statute, it aims to replace regulation-by-enforcement with codified rules, drawing a line between securities and commodities based on how decentralized a network is. The bill would grant the CFTC spot-market oversight, mandate exchange and broker registration, and require segregation of customer assets to strengthen investor protection.

On-chain data adds a striking divergence between usage and price. On June 20, Solana captured nearly 99% of all tokenized equity trades on spot decentralized exchanges, setting a single-day record above $200 million against the $20 million to $60 million seen for most of the year. Yet the surge in automated market maker activity coincides with shrinking participation: daily active addresses have roughly halved from a February peak near 5.5 million to about 2.55 million. With SOL down some 45% over the year and its monthly RSI at a record low, the bear market backdrop persists even as adoption metrics print fresh highs.

COINOTAG’s proprietary 42-indicator composite scoring engine rates the $74.72 resistance at 86/100, the strongest overhead barrier, driven by the confluence of the prior-day high, the Fibonacci 0.382 retracement and the Donchian upper band, with $78.35 next at 74/100. On the downside, $71.67 support scores 69/100 on Ichimoku Kijun and cloud-bottom alignment, backed by $69.21 (69/100). Derivatives lean cautious: open interest sits near $1.69 billion, funding is barely positive at 0.0004%, and a long/short ratio of 2.89 shows 74.3% of accounts long — crowded positioning vulnerable to a squeeze. With a Fear & Greed reading of 20 (Extreme Fear), reclaiming $74.72 would open $78; losing $71.67 invalidates the bullish thesis toward $69.