MoneyGram has launched MGUSD, a native US dollar stablecoin. This is designed to power its global payments infrastructure and expand access to digital dollar-based financial services for cross-border money transfers.
The stablecoin will serve as the foundation of MoneyGram’s blockchain-based payments stack. It will enable users to hold, send and convert dollar-denominated balances through a self-custodial wallet embedded in the MoneyGram app. MGUSD launches in the United States first but there are plans to expand it globally.
“The stablecoin market has largely focused on the asset itself. MoneyGram is taking a fundamentally different approach. Starting with our distribution platform, we’re using stablecoin as a foundation to build future applications on our global network. 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.” — Anthony Soohoo, Chairman and CEO, MoneyGram
The issuance and infrastructure behind MGUSD is powered through a multi-partner setup: Bridge (a Stripe company) acts as the regulated issuer, while M0 handles minting and burning via smart contract infrastructure. The token is deployed on the Stellar blockchain, with custody managed through Fireblocks wallets.
MoneyGram says MGUSD is built to serve everyday users, particularly those in markets affected by inflation, currency instability or limited access to traditional banking. The company currently serves over 60 million customers across nearly 500,000 retail locations, with more than 70% of transactions already happening digitally.
“Stellar was built for real-world utility at institutional scale. Our five-year partnership with MoneyGram is proof that stablecoins have moved well beyond pilots. Together, we’ve expanded financial access to millions of families and communities who need it most. MGUSD is the next milestone that demonstrates what purpose-built blockchain can deliver when paired with a trusted payments network.” — Denelle Dixon, CEO and Executive Director, Stellar Development Foundation
According to the company, MGUSD is intended to function as a “monetary layer” for its global network, enabling faster transfers and 24/7 access to stable dollar balances while integrating seamlessly between cash and digital rails across its omnichannel infrastructure.
“Over the past year, we rebuilt the core of MoneyGram so that a digital dollar could move through it as naturally as cash moves through our agent network. That meant re-architecting issuance, orchestration and settlement. MGUSD enables MoneyGram’s monetary layer to run on stablecoin rails by design. Everything our customers experience, such as faster transfers and the ability to hold digital U.S. dollars globally is the surface of that work. Everything else is invisible by design.” — Luke Tuttle, Chief Product and Technology Officer, MoneyGram
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