On Tuesday, global money transfer company MoneyGram launched MGUSD, a U.S. dollar-backed stablecoin built on the Stellar blockchain, as the firm deepens its push into blockchain-powered payments and remittances.
- On Tuesday, global money transfer company MoneyGram launched MGUSD, a U.S.
- dollar-backed stablecoin built on the Stellar blockchain, as the firm deepens its push into blockchain-powered payments and remittances.
- The token’s minting and burning infrastructure is powered by M0, while Fireblocks provides wallet technology and custody infrastructure.
- The company previously partnered with Stellar to support USDC remittances in countries such as Colombia and El Salvador.
Keep reading for the full breakdown on Anthony Soohoo — everything you need to know is covered below.
The stablecoin will initially be available to customers in the United States, with plans to expand access through MoneyGram’s global network of nearly 500,000 retail locations.
The rollout could eventually reach major remittance markets across Africa, including Nigeria, Ghana, and Kenya.
How MoneyGram MGUSD stablecoin works
MGUSD is issued by Bridge, the Stripe-owned stablecoin infrastructure company, under the regulatory framework established by the U.S. GENIUS Act. The token’s minting and burning infrastructure is powered by M0, while Fireblocks provides wallet technology and custody infrastructure.
The new system, integrated directly into the MoneyGram app, allows users to hold U.S. dollar balances in self-custodial wallets and transfer funds through MoneyGram’s existing payment rails.
“Starting with our distribution platform, we’re using stablecoin as a foundation to build future applications on our global network,” MoneyGram Chairman and CEO Anthony Soohoo said.
“MGUSD is the stablecoin we built for our customers, for the families sending money home and for the billions of people around the world with limited financial access,” he added.
The launch follows their latest step in a broader digital asset strategy. The company previously partnered with Stellar to support USDC remittances in countries such as Colombia and El Salvador.
With MGUSD, however, MoneyGram is moving beyond third-party stablecoins and introducing its own branded digital dollar. The shift gives the company greater control over its payments infrastructure while creating potential new revenue opportunities through reserve management and transaction activity.
The development also strengthens its long-running relationship with the Stellar ecosystem.
Denelle Dixon, CEO of the Stellar Development Foundation, described the launch as “the next milestone that demonstrates what a purpose-built blockchain can deliver when paired with a trusted payments network.”
Growing adoption of stablecoin globally
MoneyGram’s move comes as payment providers and remittance companies expand their use of stablecoins for international transfers. Companies including PayPal, Visa, Mastercard, and Western Union have announced stablecoin-related initiatives as demand grows for faster, cheaper cross-border settlement.
Adoption has accelerated across major financial markets, including the United States, Europe, Latin America, and parts of Africa, where stablecoins are being used to reduce settlement times and transaction costs.
Industry players have accelerated their efforts in recent months, with Western Union launching its USDPT stablecoin on Solana in May 2026, while companies such as PayPal and Visa continue expanding stablecoin-based payment infrastructure.
The remittance giant has also broadened its blockchain activities elsewhere. In May 2026, the company enabled crypto-to-cash withdrawals for Kraken users and joined the Tempo blockchain project as an anchor remittance validator. It had previously partnered with Fireblocks in late 2025 to support stablecoin settlement services.