MoneyGram launched MGUSD, a US dollar-backed stablecoin on the Stellar blockchain on June 2, 2026, issued by Stripe-owned Bridge. The stablecoin powers services across MoneyGram's network of 60 million customers and nearly 500,000 retail locations worldwide. Citi projected the stablecoin market could grow from roughly $300 billion to $4 trillion by 2030. MGUSD allows users to hold and transfer USD digitally within MoneyGram's app and withdraw cash at local agents.
MGUSD stablecoin launch
- ▪MoneyGram operates nearly 500,000 retail locations worldwide
- ▪Anthony Soohoo is the chairman and CEO of MoneyGram
- ▪MGUSD is initially available to US customers with plans to expand to MoneyGram's 60 million global users
- ▪MGUSD gives MoneyGram customers a wallet balance inside MoneyGram's existing app for holding and transferring USD
- ▪MoneyGram launched MGUSD, a US dollar-backed stablecoin on the Stellar blockchain, on June 2, 2026
Technical infrastructure partners
- ▪M0 wrote the smart contracts handling the minting of the MGUSD stablecoin
- ▪Bridge, a stablecoin platform acquired by Stripe in February 2025, is the issuer of the MGUSD stablecoin
- ▪Fireblocks provides the wallet layer in the MoneyGram app for MGUSD
Stellar blockchain integration
- ▪Denelle Dixon is the CEO of the Stellar Development Foundation
- ▪MoneyGram has worked with the Stellar Development Foundation on stablecoin-powered remittance services for almost five years
Competitive stablecoin landscape
- ▪SoFi unveiled its own stablecoin called SoFiUSD
- ▪Western Union partnered with Anchorage Digital to offer stablecoin services
- ▪Citi projected the stablecoin market could grow from roughly $300 billion to $4 trillion by 2030
- ▪PayPal partnered with Paxos to offer stablecoin services
Physical cash network advantage
- ▪MoneyGram's MGUSD stablecoin allows users to move value digitally and withdraw cash at a local agent through MoneyGram's physical cash-in, cash-out network
- ▪MoneyGram operates one of the world's largest physical cash-in, cash-out networks
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