MoneyGram launches US dollar-backed stablecoin MGUSD on Stellar for global digital payments.

MoneyGram has launched MGUSD, a US dollar-backed stablecoin on the Stellar blockchain, initially available to US users with plans for global rollout. MGUSD, issued by Stripe's Bridge and supported by smart contracts from M0 and wallet infrastructure from Fireblocks, aims to enable faster, cheaper cross-border payments through MoneyGram's network of 60 million customers and nearly 500,000 retail locations. This move aligns with the growing trend of stablecoins being used to improve remittances and digital dollar payments worldwide. MoneyGram plans to use MGUSD as a foundational infrastructure for future applications on its global payment platform.