MoneyGram Launches MGUSD Stablecoin on Stellar Blockchain

MoneyGram launched MGUSD, a native U.S. dollar-backed stablecoin, on June 2, 2026. Deployed on the Stellar blockchain, the token aims to power financial services and cross-border payments for the company's 60 million customers and nearly 500,000 retail locations.

The stablecoin is integrated into the MoneyGram app through a self-custodial wallet. While the service debuted in the U.S. market, the company plans to expand the offering globally. The initiative is the result of a five-year partnership with the Stellar Development Foundation intended to increase financial access for underserved populations and those in markets with unstable currencies.

A consortium of partners supports the technical infrastructure. Bridge, a Stripe company, serves as the regulated issuer, while M0 provides the smart contract infrastructure for minting and burning tokens. Fireblocks provides the wallet infrastructure necessary to hold and send the assets.