MoneyGram Launches US Dollar Stablecoin MGUSD on Stellar Blockchain

MoneyGram announced the launch of its US dollar stablecoin, MGUSD, on the Stellar blockchain. The stablecoin will be integrated into its official app, allowing users to hold US dollar-denominated balances in self-custody wallets and conduct cross-border transfers through its global network. MGUSD is issued by Stripe's Bridge, with smart contracts provided by M0 and wallet infrastructure by Fireblocks. The product has initially launched in the United States and will be rolled out globally to its approximately 60 million users and nearly 500,000 physical locations, serving as a core infrastructure component of MoneyGram's cross-border payment network.