MoneyGram launches MGUSD on Stellar: a stablecoin that gives its 60 million customers self-custodial digital dollar balances connected to MoneyGram's global cash-access network. The product prioritizes real-world utility for underbanked populations over trading liquidity, paired with treasury modernization across stablecoin prefunding and settlement.
MoneyGram announced MGUSD, a stablecoin built on Stellar that positions stable digital dollars within MoneyGram's existing customer base rather than as a standalone trading asset. The platform combines self-custodial wallet architecture with MoneyGram's global on/off-ramp network, serving underbanked and unbanked users who lack access to stable currency and traditional banking. CEO Luke Tuttle emphasizes the distinction: MGUSD is not attempting to compete with major stablecoins for liquidity but rather to enhance MoneyGram's existing infrastructure—enabling faster remittances, better treasury operations, and lower-cost services. The company also modernized internal financial systems to embed stablecoin workflows into standard enterprise operations, running roughly $2 billion annual FX trading volume on stablecoins.
