MoneyGram launched MGUSD, a U.S. dollar-backed stablecoin on the Stellar network, reaching its 60M+ customer base globally. Issued by Bridge (a Stripe company) with smart contracts from M0, MGUSD integrates into MoneyGram's app for self-custodial storage, instant transfers, and cash withdrawals at 500,000+ retail locations. The move builds on a five-year partnership between MoneyGram and the Stellar Development Foundation focused on blockchain-powered remittances.
MoneyGram launched MGUSD, a U.S. dollar-backed stablecoin on Stellar, bringing self-custody and instant settlements to its 60M+ global customers. Issued by Bridge (acquired by Stripe) with M0 providing smart contracts and Fireblocks supplying wallet infrastructure, MGUSD embeds directly into MoneyGram's app. Users can hold dollar balances, transfer funds across borders, and withdraw cash at 500,000+ retail locations worldwide. This move deepens MoneyGram's five-year partnership with the Stellar Development Foundation, which focused initially on USDC-based remittances. MGUSD shifts that infrastructure in-house, aligning with a broader trend: PayPal, SoFi, and Western Union are all building stablecoin rails to reduce cross-border friction. Citi projects the stablecoin market could reach $4 trillion by 2030, up from the current $300 billion.
