MoneyGram Launches MGUSD Stablecoin on Stellar for Cross-Border Payments

Jun 2, 2026

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.