MoneyGram Launches Stablecoin MGUSD on Stellar Blockchain

MoneyGram has entered the world of stablecoins by launching MGUSD, a US dollar-backed token on the Stellar blockchain. The launch marks an important step in MoneyGram's efforts to provide customers with fast and reliable cross-border transfer tools.

The MGUSD token allows users to hold and send digital dollars through the MoneyGram app, initially available in the US before global expansion. This move is part of a larger trend in cross-border payments, where stablecoins can settle outside normal banking hours and reduce friction for people with limited access to banking.