MoneyGram has officially launched MGUSD, a U.S. dollar-backed stablecoin designed to power blockchain-based payment services across its global network. The company said digital assets will play a central role in its long-term strategy to expand digital financial services worldwide.
MGUSD launches first in the United States and is integrated into the MoneyGram app through a self-custodial wallet. Users can hold digital dollars, send money internationally, and convert balances into local currencies as needed. According to MoneyGram, the stablecoin targets everyday financial activity rather than serving as a standalone crypto asset — especially for people who regularly move money across borders and need reliable access to dollar-denominated value.
Built on Stellar, Backed by Key Partners
Several industry partners support the launch. Bridge, a Stripe company, acts as the regulated issuer. M0 provides the smart contract infrastructure for minting and burning tokens. The stablecoin runs on the Stellar blockchain, extending MoneyGram's years-long partnership with the Stellar ecosystem. Fireblocks manages the wallet infrastructure for transfers before funds reach customer wallets inside the MoneyGram app.
MoneyGram Chairman and CEO Anthony Soohoo said the company took a different approach from many stablecoin issuers: instead of focusing on the asset itself, MoneyGram started with its distribution platform and uses the stablecoin as a foundation for future applications. “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,” Soohoo said.
Stellar Partnership Enters New Phase
This launch marks another milestone in MoneyGram's relationship with the Stellar Development Foundation, which spans five years of work on blockchain-based payment solutions. Stellar Development Foundation CEO Denelle Dixon said MGUSD shows how blockchain can support real-world payment activity at scale and builds on earlier efforts to serve communities with limited banking access.
MoneyGram said MGUSD will serve as the foundation for additional blockchain-powered services, positioning the stablecoin at the center of its evolving global payments infrastructure.