FinanceShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMoneyGram Introduces MGUSD Stablecoin on Stellar Blockchain
MGUSD, launched on the Stellar blockchain, aims to enhance MoneyGram's services for its extensive global customer base.
By Krisztian Sandor|Edited by Nikhilesh DeUpdated Jun 2, 2026, 9:24 a.m. Published Jun 2, 2026, 9:00 a.m. 2 min readMake preferred onKey Details:
- MoneyGram has officially launched its U.S. dollar-pegged stablecoin, MGUSD, on the Stellar blockchain.
- Initially, it will be available to users in the U.S., with plans for a worldwide rollout across the company’s 60 million customers as the demand for stablecoins grows in cross-border transactions.
- MGUSD is issued by Bridge, a company owned by Stripe, and features smart contracts from M0 along with wallet technology from Fireblocks.
On Tuesday, MoneyGram revealed the launch of its U.S. dollar-backed stablecoin, MGUSD, on the Stellar (XLM) blockchain, aligning with a surge of payment companies and banks focused on digital dollar solutions.
The MGUSD stablecoin will be integrated into the MoneyGram app, enabling users to maintain a dollar-denominated balance in a self-custodial wallet and transfer funds globally through the company's payment network.
Initially available in the U.S., MoneyGram plans to expand the service internationally.
This initiative comes as stablecoins are rapidly gaining traction within the cryptocurrency sector, attracting interest from banks and fintech firms aiming to modernize cross-border payments using blockchain technology. These tokens, linked to fiat currencies like the U.S. dollar, are seen as offering faster, cheaper, and more accessible transactions compared to traditional banking methods. According to global bank Citi, the stablecoin market could grow to $4 trillion by 2030 from its current valuation of $300 billion.
Recently, SoFi launched its own stablecoin, SoFiUSD, while firms like PayPal and Western Union are collaborating with crypto infrastructure providers such as Paxos and Anchorage Digital to offer stablecoin services.
With a customer base exceeding 60 million and nearly 500,000 retail locations, MoneyGram is pursuing similar partnerships.
The firm has teamed up with Bridge, the stablecoin platform acquired by Stripe, which serves as the regulated issuer of MGUSD. M0 has created the smart contracts for minting and redeeming the token, while Fireblocks supplies the necessary wallet infrastructure.
"By leveraging our distribution platform, we are laying a foundation for future applications on our global network with stablecoin technology," stated Anthony Soohoo, chairman and CEO of MoneyGram. "MGUSD is crafted for our customers, particularly families sending money back home and for the billions lacking access to financial services worldwide."
MoneyGram aims for MGUSD to be a fundamental component of its payment ecosystem, which spans over 60 million customers and nearly 500,000 retail locations globally.
This launch enhances MoneyGram's ongoing collaboration with the Stellar Development Foundation, which has been focused on creating stablecoin-based remittance solutions for the past five years.
According to Denelle Dixon, CEO of the Stellar Development Foundation, "Stellar was designed for practical use at an institutional level. The launch of MGUSD marks a significant milestone that highlights the potential of purpose-built blockchain technology when integrated with a reliable payment network."
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