STABLECOINS | MoneyGram Launches the MGUSD Stablecoin on the Stellar Blockchain

Global money transfer company, MoneyGram, has launched its own U.S. dollar-backed stablecoin, MGUSD, marking a major step in its effort to move cross-border payments and settlement onto blockchain infrastructure.

The stablecoin, built on the Stellar blockchain and initially available in the United States, will be integrated into the MoneyGram app allowing users to hold dollar-denominated balances, transfer funds globally, and convert them into local currencies.

The company plans to expand the service internationally later in 2026.

MoneyGram said MGUSD will eventually serve as the foundation of its payments network, which reaches roughly 60 million active users across more than 200 countries and territories. Chief Executive Anthony Soohoo said the company aims to embed the token across its transaction flows, giving customers in markets facing inflation or currency instability access to a digital dollar that can be moved or redeemed on demand.

The launch reflects a broader shift among payment firms and financial institutions toward stablecoins as a cheaper and faster alternative to traditional cross-border settlement systems. Stablecoins, which are designed to maintain a fixed value against fiat currencies such as the U.S. dollar, have become one of the fastest-growing segments of the digital asset industry.

• MGUSD is issued by Bridge, the stablecoin infrastructure company owned by Stripe, while
• smart contract infrastructure is provided by M0 and
• wallet services by Fireblocks.

The token will initially support MoneyGram’s

• treasury management,
• settlement and
• foreign-exchange

operations before being rolled out more broadly to customers.

The move builds on several blockchain initiatives launched by MoneyGram over the past year, including expanded partnerships with

• the Stellar Development Foundation,
• crypto exchange Kraken and
• payments-focused blockchain Tempo,

as the company seeks to position itself at the center of a growing network of stablecoin-powered global payments.

Stay tuned to BitKE for deeper insights into crypto developments globally.

Join our WhatsApp channel here.

Follow us on X for the latest posts and updates

Join and interact with our Telegram community

_________________________________________