MoneyGram Enters the Stablecoin Race With MGUSD on Stellar

MoneyGram has officially launched MGUSD, a native dollar stablecoin built on the Stellar blockchain to power global remittances, digital balances, and financial services for millions of underbanked customers worldwide.

We break down what MGUSD really is, who powers it, and why it could reshape cross-border payments.

MoneyGram Just Launched MGUSD: a New Dollar Stablecoin on Stellar

A native stablecoin is a digital token pegged one-to-one to a fiat currency and issued directly by a regulated entity. MGUSD is MoneyGram’s own dollar-pegged token, launched today in the United States market with plans to scale globally.

The infrastructure relies on strong partners. Bridge, a Stripe company, acts as the regulated, GENIUS Act-ready issuer, while M0’s smart contract infrastructure handles all the minting and burning operations on the Stellar blockchain at launch.

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Introducing MGUSD.MoneyGram's native U.S. dollar stablecoin.Natively issued on @StellarOrg.Built with @Stablecoin, @M0 and @FireblocksHQ.Live in the U.S. today. pic.twitter.com/GWW3XtNrf6

— MoneyGram (@MoneyGram) June 2, 2026

MoneyGram holds MGUSD in Fireblocks wallets, which then route the tokens to self-custodial wallets embedded directly inside the MoneyGram app. Customers get a stable, dollar-denominated balance integrated into the same app they already use.

The reach is significant. MoneyGram serves more than 60 million active customers through nearly 500,000 retail locations worldwide. Over 70% of its transactions are already digital, giving MGUSD a built-in distribution network from day one.

Why MGUSD Could Reshape Cross-Border Payments

CEO Anthony Soohoo framed the launch as a fundamentally different approach to stablecoins. Instead of focusing on the asset itself, MoneyGram uses MGUSD as a foundation to build future applications on its global network.

The target user is clear. MGUSD is designed not for crypto natives but for families sending money home and the billions of people facing inflation, currency instability, or limited access to traditional banking services.

The product gives those customers a dollar-denominated balance they can hold and access 24/7. They can move funds globally and convert into local currency on demand, from anywhere and at any time, directly from their phones.

The Stellar partnership underpins the rollout. Stellar Development Foundation CEO Denelle Dixon called MGUSD the next milestone of a five-year collaboration that has already expanded financial access to millions of families across emerging markets.

For MoneyGram, this is the bridge between cash and digital rails. Faster transfers, programmable balances, and a unified omnichannel network position MGUSD to bring stablecoin utility into the hands of mainstream global users at real scale.