MoneyGram Launches MGUSD Stablecoin on Stellar for Cross-Border Payments

MoneyGram has launched MGUSD, a U.S. dollar-backed stablecoin on the Stellar blockchain, for users in the United States. Integrated directly into the MoneyGram app, MGUSD allows customers to hold digital dollar balances and make cross-border transfers. Issued by Bridge with support from M0 and Fireblocks, the stablecoin expands MoneyGram’s long-standing partnership with Stellar. The launch matters because it combines blockchain-based settlement with MoneyGram’s global distribution network, potentially reducing costs and transfer times. Next, the company plans to expand access through its network of more than 60 million customers and 500,000 retail locations worldwide.