Global remittance giant MoneyGram has launched MGUSD, its proprietary U.S. dollar-backed stablecoin, natively on the Stellar blockchain. The stablecoin is now integrated into the company’s global payments infrastructure.
The development positions MoneyGram as one of the few traditional remittance providers to issue its own stablecoin, aiming to streamline cross-border transfers and offer customers a stable dollar balance directly within its app ecosystem.
By leveraging its massive existing infrastructure, the company is looking to bridge traditional cash-based remittances with blockchain-based digital rails.
Issuer, custody, and launch details
Bridge, a Stripe company, serves as the regulated issuer for MGUSD under the GENIUS Act framework. M0’s smart contract infrastructure manages the minting and burning of tokens, while Fireblocks provides the custody layer. MoneyGram holds MGUSD in Fireblocks wallets before distributing it to self-custodial wallets embedded within the MoneyGram mobile app.
The stablecoin has gone live initially in the United States, with plans for phased global expansion. Customers will be able to hold dollar-denominated balances, send funds, and convert to local currencies through the app.
Long-standing Stellar partnership and executive comments
The launch builds on MoneyGram’s partnership with the Stellar Development Foundation that stretches back more than five years. The company had earlier used Circle’s USDC for stablecoin-powered remittances on Stellar before transitioning to its own issuance.
MoneyGram Chairman and CEO Anthony Soohoo said, “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.”
Chief Product and Technology Officer Luke Tuttle noted, “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.”
Stellar Development Foundation CEO Denelle Dixon described the development as “the next milestone” in demonstrating what a purpose-built blockchain can deliver when paired with a trusted payments network.
MoneyGram’s scale and recent blockchain activity
MoneyGram operates one of the world’s largest omnichannel payments networks, reaching over 60 million active customers through nearly 500,000 retail locations worldwide. More than 70% of its transactions are now processed digitally.
The MGUSD rollout follows several recent blockchain-related steps. In May 2026, MoneyGram enabled crypto-to-cash withdrawals for Kraken users and was appointed as an anchor remittance validator on the Tempo blockchain project. In December 2025, it partnered with Fireblocks for stablecoin settlement capabilities.
Industry context
MoneyGram joins other established payments companies that have introduced proprietary stablecoins. Western Union launched its USDPT stablecoin on Solana in early May 2026, while PayPal and Visa have integrated stablecoin infrastructure into their cross-border settlement systems.
No specific transaction volumes or adoption metrics for MGUSD were disclosed in the announcement. Industry observers continue to monitor how such moves by traditional remittance providers may influence costs and settlement times in the global remittances market.
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