MoneyGram Launches MGUSD Stablecoin on Stellar to Strengthen Global Payment Services

MoneyGram has officially launched MGUSD, a U.S. dollar-pegged stablecoin built on the Stellar blockchain, as the company expands its presence in digital payments and blockchain-based financial services. The new stablecoin is designed to support faster, more efficient cross border transactions across MoneyGram’s global network, which serves more than 60 million active customers through nearly 500,000 retail locations worldwide.

MGUSD Aims to Improve Cross-Border Payments

MGUSD will initially be available in the United States, with plans for international expansion in the future. MoneyGram Chairman and CEO Anthony Soohoo said the stablecoin was created for customers who regularly send money across borders and for people with limited access to traditional financial services.

According to the company, MGUSD will be integrated into its payment ecosystem, allowing users to move digital dollars more efficiently through the MoneyGram platform.

Key Partners Support Stablecoin Infrastructure

The project is supported by several major industry players. Bridge, a company owned by Stripe, serves as the regulated issuer of MGUSD under the GENIUS Act framework. M0 provides the smart contract infrastructure responsible for minting and burning tokens, while Fireblocks supplies custody services and wallet technology.

MoneyGram will hold MGUSD in Fireblocks wallets before distributing the stablecoin to customer wallets integrated within the MoneyGram application.

Stellar Partnership Reaches New Milestone

The launch deepens MoneyGram’s relationship with the Stellar Development Foundation, a partnership that has existed for more than five years. Before launching MGUSD, MoneyGram used Circle’s USDC stablecoin for blockchain-powered money transfers.

Stellar Development Foundation CEO Denelle Dixon described MGUSD as the next major step in demonstrating how blockchain technology can work alongside trusted payment networks to improve financial access.

As competition grows in the stablecoin sector, MoneyGram joins other major payment companies developing proprietary digital currencies and blockchain payment infrastructure to modernize global money transfers.