MoneyGram launches MGUSD stablecoin on Stellar network
MoneyGram launched MGUSD, a US dollar stablecoin on Stellar, to expand its blockchain-based cross-border payments strategy. The stablecoin will be integrated into the MoneyGram app through a self-custodial wallet, letting users hold dollar balances, send funds globally, and convert to local currencies. MGUSD first launched in the US, with broader rollout planned. The token stack includes issuance by Bridge, Stripe’s stablecoin platform, mint-and-burn smart contracts from M0, and wallet infrastructure from Fireblocks. The move shifts remittance stablecoin use beyond backend settlement toward consumer-facing digital-dollar balances. The launch targets a remittance market still burdened by high costs and slow settlement. World Bank data shows sending $200 cost 6.36% in Q3 2025, above the UN’s 3% goal. Stablecoin transfers can cut blockchain settlement costs sharply, helping explain growing interest from payment firms. MoneyGram has also recently partnered with Kraken and Tempo, while Western Union has launched its own stablecoin push.
