MoneyGram launched MGUSD on June 2, a U.S. dollar stablecoin that integrates into its global payments network through a self-custodial wallet in the MoneyGram app. The token issues natively on the Stellar blockchain and enables customers to hold, move, and convert dollar-denominated balances into local currency on demand. MGUSD initially launches in the U.S. market, with MoneyGram planning global expansion as it builds payments infrastructure on blockchain rails. The stablecoin targets users facing inflation, currency instability, or limited access to traditional financial services rather than crypto-native audiences. MoneyGram serves more than 60 million active customers across nearly 500,000 retail locations, with over 70% of transactions now digital, positioning the token within an established omnichannel distribution network.
Bridge and M0 Power MGUSD Issuance and Smart Contract Layer
Bridge, a Stripe company, serves as the regulated, GENIUS Act-ready issuer for MGUSD. M0's smart contract infrastructure handles minting and burning of MGUSD tokens, which deploy on Stellar at launch. MoneyGram holds the tokens in Fireblocks wallets that send to individual customer wallets embedded in its app, an arrangement that builds on the stablecoin settlement infrastructure MoneyGram brought in through Fireblocks late last year. The token integrates directly into the MoneyGram app through a self-custodial wallet, giving customers a dollar-denominated balance they can access around the clock and convert into local currency whenever they need it.
MoneyGram Targets Inflation-Affected Users Through Self-Custody Wallets
MoneyGram positions MGUSD for people facing inflation, currency instability, or limited access to reliable financial services rather than for crypto-native users. That use case already has a live precedent in the USDC-powered app MoneyGram launched in Colombia, built on Stellar to shield recipients from peso volatility through self-custody wallets. Anthony Soohoo, Chairman and CEO of MoneyGram, stated: "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."
MoneyGram Leverages 60M-Customer Network for Stablecoin Distribution
MoneyGram serves more than 60 million active customers across one of the world's largest payments networks, reaching nearly 500,000 retail locations, with over 70% of transactions now digital. That omnichannel footprint connects physical cash access and digital wallets, letting MGUSD arrive with distribution and reach already in place. The token extends MoneyGram's five-year partnership with the Stellar Development Foundation, which has already brought stablecoin-powered money movement to market. MGUSD moves that work into issuance, balance infrastructure, and ecosystem-wide utility, the same direction the company signaled when it became the anchor remittance validator on Tempo, the Stripe and Paradigm Layer 1 network. Chief Product and Technology Officer Luke Tuttle described the build as a ground-up effort, saying MoneyGram spent the past year re-architecting issuance, orchestration, and settlement so that "a digital dollar could move through it as naturally as cash moves through our agent network."
FAQ
What did MoneyGram launch on June 2?
MoneyGram launched MGUSD on June 2, a U.S. dollar stablecoin that issues natively on the Stellar blockchain and integrates into the MoneyGram app through a self-custodial wallet. The token enables customers to hold, move, and convert dollar-denominated balances into local currency on demand, with an initial launch in the U.S. market and planned global expansion.
Who provides the technical infrastructure for MGUSD?
Bridge, a Stripe company, serves as the regulated issuer for MGUSD. M0's smart contract infrastructure handles minting and burning of MGUSD tokens on Stellar. MoneyGram holds the tokens in Fireblocks wallets that send to individual customer wallets embedded in its app, building on stablecoin settlement infrastructure MoneyGram integrated through Fireblocks late last year.
How many customers does MoneyGram serve through its payments network?
MoneyGram serves more than 60 million active customers across nearly 500,000 retail locations, with over 70% of transactions now digital. The omnichannel network connects physical cash access and digital wallets, providing distribution and reach for MGUSD at launch.
