MoneyGram launched MGUSD stablecoin to support global digital payment services. Bridge, Stellar, M0, and Fireblocks power MGUSD infrastructure together. MGUSD expands MoneyGram’s blockchain s
MoneyGram has launched MGUSD, a U.S. dollar-backed stablecoin that will power a new generation of blockchain-based payment services across its global network. According to the company, digital asset will serve as a core component of its long-term strategy to expand access to digital financial services for customers worldwide.
MGUSD launches first in the United States and will be integrated directly into the MoneyGram app through a self-custodial wallet. As a result, users will be able to hold digital dollars, send funds internationally, and convert balances into local currencies whenever needed.
The launch reflects MoneyGram’s broader effort to modernize cross-border payments through blockchain technology. Moreover, the company believes stable digital dollars can help customers navigate inflation, currency volatility, and limited access to traditional banking services in certain regions.
According to MoneyGram, MGUSD was built to support everyday financial activity rather than serve as a standalone crypto asset. The company said the stablecoin is intended for people who regularly move money across borders and need reliable access to dollar-denominated value.
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Several industry partners are supporting the stablecoin’s launch. Bridge, a Stripe company, serves as the regulated issuer of MGUSD. Meanwhile, M0 provides the smart contract infrastructure used to mint and burn the tokens.
Additionally, MGUSD has launched on the Stellar blockchain, extending MoneyGram‘s long-standing relationship with the Stellar ecosystem. Fireblocks provides the wallet infrastructure used to manage the stablecoin before transfers reach customer wallets inside the MoneyGram application.
Anthony Soohoo, Chairman and CEO of MoneyGram, said the company is taking a different approach from many stablecoin issuers by building services around its existing payments network.
“The stablecoin market has largely focused on the asset itself. MoneyGram is taking a fundamentally different approach. 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,” Soohoo said.
The launch marks another milestone in MoneyGram’s relationship with the Stellar Development Foundation. Both organizations have spent the last five years working on blockchain-based payment solutions aimed at improving financial access.
Stellar Development Foundation CEO Denelle Dixon said MGUSD demonstrates how blockchain technology can support real-world payment activity at scale. She added that the new stablecoin builds on previous efforts to deliver financial services to communities with limited access to traditional banking tools.
MoneyGram said MGUSD will act as the foundation for additional blockchain-powered services, positioning the stablecoin at the center of its evolving global payments infrastructure.
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The post Breaking: MoneyGram Launches MGUSD Stablecoin for Global Payments Network appeared first on 36Crypto.
