MoneyGram launched MGUSD on Tuesday, a dollar-pegged stablecoin built on the Stellar blockchain. The token is aimed at the company's global remittance network and underbanked customers in countries where inflation eats away at local currencies. Bridge, a Stripe-owned company, acts as the regulated issuer, while M0 handles minting and burning on Stellar. Fireblocks manages wallet security.
Designed for remittances, not speculation
MGUSD isn't for crypto traders. MoneyGram built it for the 60 million active customers who move money across its 500,000 retail locations worldwide. Over 70% of the company's transactions are already digital, so distribution for the stablecoin has a clear pipeline. The token lets users hold dollar-denominated balances 24/7 without touching a crypto exchange — a feature that matters in markets where trust in local currencies is low.
The tech stack and the Stellar connection
Bridge, as the issuer, complies with the GENIUS Act. M0's infrastructure handles the minting and burning of MGUSD directly on Stellar, and Fireblocks secures the wallets. The Stellar Development Foundation called MGUSD the next milestone in a five-year collaboration focused on financial access in emerging markets. The choice of Stellar makes sense — the network was designed for low-cost cross-border payments and has been used by other remittance projects.
How it fits MoneyGram's business
MoneyGram's existing network is massive: 60 million active customers, half a million retail locations. The stablecoin plugs into that infrastructure. For a customer sending money from the U.S. to the Philippines, MGUSD could mean faster settlement and fewer currency conversion steps. For someone in a country with hyperinflation, it offers a way to save in dollars without needing a bank account. The company says the token is live now and integrated into its digital channels.
