Ah, the marvellous world of finance! Where numbers dance like sugarplums and stablecoins sprout like weeds in a giant’s garden. MoneyGram, that clever old fox, has conjured up its very own U.S. dollar stablecoin, MGUSD, on the Stellar blockchain. And why, you ask? To dazzle and delight its 60 million active customers, of course! What a scrumptious feast of financial wizardry!
- MoneyGram, with a flourish of its wand, has unleashed MGUSD, a stablecoin so stable it could balance on a tightrope. First stop: the good ol’ U.S. of A.!
- This magical coin will zip and zoom through a payments network, reaching more than 60 million souls worldwide. How’s that for a bit of financial fancy-footwork?
- And let’s not forget, this is just the latest trick up MoneyGram’s sleeve! USDC remittances, stablecoin settlements, crypto cash withdrawals-they’ve been busier than a squirrel in a nut factory.
According to a Tuesday proclamation (complete with trumpets and confetti), MGUSD is being conjured by Bridge, a Stripe-owned company operating under the GENIUS Act framework. Meanwhile, M0 provides the smart contract sorcery, minting and burning tokens like a financial Merlin.
Introducing MGUSD.
MoneyGram’s native U.S. dollar stablecoin.Natively issued on @StellarOrg.
Built with @Stablecoin, @M0 and @FireblocksHQ.
Live in the U.S. today.– MoneyGram (@MoneyGram) June 2, 2026
The rollout begins in the land of hot dogs and apple pie, with MoneyGram plotting to spread its stablecoin magic across the globe. Fireblocks, the trusty custodian, will keep MGUSD safe in its wallets before it flits into the eager hands of customers via the MoneyGram app. What a delightful dance of digits!
“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,” declared MoneyGram Chairman and CEO Anthony Soohoo, with a flourish of his top hat.
MoneyGram’s Stablecoin Extravaganza
For MoneyGram, this launch is just the latest act in a stablecoin circus that’s been gaining momentum faster than a runaway train. Last September, they teamed up with Crossmint to let folks in Colombia receive transfers settled in Circle’s USDC. Hold it as digital dollars or cash out at 6,000 locations-the choice was theirs!
But wait, there’s more! In December, they adopted Fireblocks technology for stablecoin settlements. Then, they became an anchor remittance validator on the Tempo blockchain, backed by Stripe and Paradigm. And let’s not forget crypto-to-cash withdrawals for Kraken customers in May. Oh, and they’re also validators for Midnight, Cardano’s privacy-focused sidechain. Busy bees, aren’t they?
Instead of borrowing stablecoins from others, MoneyGram has decided to brew its own potion-a token that fits snugly into its payments ecosystem. How very enterprising!
The Stellar Development Foundation, ever the cheerleader, called MGUSD the “next milestone” in showing what a blockchain designed for payments can do when paired with a global money transfer giant. Ta-da!
Traditional Payment Firms Join the Stablecoin Circus
But MoneyGram isn’t the only one performing in this financial circus. Western Union has its USDPT stablecoin on Solana, while PayPal and Visa have incorporated stablecoin infrastructure into their cross-border acts. And let’s not forget Societe Generale’s digital arm, which expanded its EURCV and USDCV stablecoins to Morpho and Uniswap. What a spectacle!
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2026-06-02 14:56