MoneyGram is taking a major step deeper into the digital asset space with the launch of its own U.S. dollar-backed stablecoin, MGUSD, on the Stellar blockchain. The move positions the global money transfer giant at the center of a growing blockchain-based payments ecosystem that serves more than 60 million active customers worldwide.
The company announced on Tuesday that MGUSD will initially be available in the United States before expanding to international markets. The launch marks a significant milestone in MoneyGram’s ongoing strategy to integrate stablecoins and blockchain technology into its global payment services.
MGUSD Powered by Stellar and Backed by Industry Partners
According to MoneyGram, MGUSD is issued by Bridge, a Stripe-owned company operating under the framework established by the GENIUS Act. Meanwhile, M0 provides the smart contract infrastructure that handles the minting and burning of the stablecoin.
The company has partnered with Fireblocks for custody services, with MGUSD initially stored in Fireblocks-managed wallets before being distributed to customer wallets integrated within the MoneyGram app.
Anthony Soohoo, Chairman and CEO of MoneyGram, said the stablecoin was designed to address real-world financial challenges.
“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.”
The launch reflects MoneyGram’s broader vision of making digital dollar payments more accessible, efficient, and affordable for users worldwide.
A Year of Expanding Stablecoin Services
MGUSD is the latest development in MoneyGram’s growing stablecoin strategy.
In September 2025, the company integrated Crossmint’s wallet technology into its remittance platform, enabling users in Colombia to receive transfers settled in Circle’s USDC. Recipients could choose to hold their funds as digital dollars or convert them into cash through MoneyGram’s network of more than 6,000 locations across the country.
The company continued expanding its blockchain infrastructure over the following months. In December, MoneyGram adopted Fireblocks technology to support stablecoin settlements. Earlier this year, it became an anchor remittance validator on the Tempo blockchain, a network backed by Stripe and Paradigm.
Last month, MoneyGram introduced crypto-to-cash withdrawal services for customers of the Kraken exchange, further strengthening its bridge between traditional finance and digital assets.
The company also joined the Midnight ecosystem in February as a validator for Cardano’s privacy-focused sidechain, alongside organizations such as eToro and Vodafone.
From Supporting Stablecoins to Issuing One
Until now, MoneyGram primarily relied on third-party stablecoins such as USDC to power its blockchain-based services. With the launch of MGUSD, the company is taking greater control over its payments infrastructure by introducing a stablecoin that operates directly within its own ecosystem.
The decision could help streamline cross-border transactions, reduce settlement friction, and create new opportunities for digital payments across MoneyGram’s extensive global network.
The Stellar Development Foundation welcomed the launch, highlighting the long-standing relationship between the two organizations. Over the past five years, MoneyGram has used Stellar-based infrastructure to facilitate stablecoin-powered transfers and remittances.
Denelle Dixon, CEO of the Stellar Development Foundation, described MGUSD as the next step in demonstrating how blockchain technology can improve real-world payment systems when combined with an established global money transfer network.
Traditional Payment Companies Enter the Stablecoin Race
MoneyGram’s move comes as more traditional financial and payment companies embrace stablecoins.
Western Union has announced plans for its USDPT stablecoin on Solana, while PayPal and Visa continue expanding stablecoin-based settlement solutions for cross-border payments.
Major financial institutions are also increasing their involvement. Last year, Société Générale’s digital asset division expanded its regulated EURCV and USDCV stablecoins to decentralized finance platforms such as Morpho and Uniswap.
As regulatory clarity improves and demand for digital payment solutions grows, established financial firms are increasingly viewing stablecoins as a core component of future payment infrastructure.
The Bottom Line
The launch of MGUSD represents a major milestone for MoneyGram’s blockchain strategy. By introducing its own stablecoin on Stellar, the company is moving beyond simply supporting digital assets and becoming an issuer itself.
With a customer base exceeding 60 million users, established global payment rails, and partnerships with major blockchain infrastructure providers, MoneyGram is positioning MGUSD as a key part of the next generation of cross-border payments.
As competition among payment companies intensifies, stablecoins are rapidly evolving from niche crypto products into mainstream financial tools—and MoneyGram wants to be at the forefront of that transformation.
