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MoneyGram Launches MGUSD Stablecoin for Remittance Network
- On Tuesday, MoneyGram launched MGUSD, a native U.S. dollar-backed stablecoin on the Stellar blockchain, expanding its global payments network infrastructure.
- A five-year partnership with the Stellar Development Foundation prompted MoneyGram to re-architect its core, enabling digital dollars to move as naturally as cash across its agent network.
- Bridge, a Stripe company, serves as MGUSD's regulated issuer, while Fireblocks provides wallet infrastructure securing the tokens for customer access.
- Integrated into the MoneyGram app, MGUSD offers customers a self-custodial wallet holding a stable, dollar-denominated balance for global transfers without requiring crypto expertise.
- Market analysts at Citi project the stablecoin sector could reach $4 trillion by 2030, as fintech firms like SoFi, PayPal, and Western Union increasingly adopt blockchain rails.
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26 Articles
PR Newswire+2 Reposted by 2 other sources
MoneyGram Launches MGUSD, a Stablecoin to Power Its Own Global Network
/PRNewswire/ -- MoneyGram today announced the launch of MGUSD, a native U.S. dollar stablecoin and the foundation for a growing suite of financial services...
·United States
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MoneyGram has taken a strategic step in its evolution within the digital financial ecosystem with the launch of MGUSD, a US dollar-linked stablecoin that will function natively over Stellar’s blockchain. The initiative puts the company at the center of an increasingly visible trend among large payment companies: developing its own digital asset-based infrastructure to optimize international transfers and expand financial access. The new stableco…
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