MoneyGram Rolls Out MGUSD Stablecoin on Stellar Network

MoneyGram has introduced MGUSD, a U.S. dollar–backed stablecoin built on the Stellar blockchain, signaling a further move into blockchain-based cross-border payments.

The stablecoin will be integrated into the MoneyGram app through a self-custodial wallet, allowing users to hold dollar-denominated balances, transfer funds internationally, and convert them into local currencies. The initial rollout is starting in the United States, with plans for wider global expansion.

Supporting the rollout, MGUSD is issued through Bridge, while M0 provides the mint-and-burn infrastructure. Wallet services are powered by Fireblocks, enabling seamless integration of the stablecoin within the MoneyGram ecosystem.

Source: MoneyGram