MoneyGram Introduces MGUSD Stablecoin on Stellar Blockchain

MoneyGram has expanded its partnership with the Stellar blockchain by launching MGUSD, a U.S. dollar-backed stablecoin designed for cross-border payments. The new stablecoin enables customers to hold digital dollar balances within the MoneyGram app and conduct international transactions. This move combines the efficiency of blockchain-based settlement with MoneyGram's extensive global distribution network.

The integration is facilitated by Bridge, with support from M0 and Fireblocks, allowing users in the United States to benefit from this innovative solution. The launch marks a significant step forward for MoneyGram's use of blockchain technology, which has the potential to reduce costs and transfer times for cross-border transactions.