MoneyGram has rolled out MGUSD, a native US dollar stablecoin that will underpin a growing range of financial services across its global payments network. The coin is issued on the Stellar blockchain and is designed to support cross-border transfers and financial access for underserved communities.
MGUSD is made possible through partnerships with Bridge as the regulated issuer, M0 for token issuance infrastructure, and Fireblocks for wallet custody and distribution, the company said.
Initially launched in the US, MGUSD will be embedded into a self-custodial wallet experience, enabling users to hold, send, and access dollar-denominated balances around the clock. MoneyGram plans to expand the offering to other countries in the future.
MoneyGram says MGUSD addresses challenges such as inflation, currency instability, and limited banking access, with a focus on serving remittance users and financially underserved populations.
“Starting with our distribution platform, we’re using stablecoin as a foundation to build future applications on our global network. 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,” Anthony Soohoo, Chairman and CEO of MoneyGram, said in a statement.
