MoneyGram Launches New Stablecoin

CryptoProwl

Tue, June 2, 2026 astatine 8:31 AM CDT 1 min read

MoneyGram has launched its ain U.S. dollar-backed stablecoin connected the Stellar (CRYPTO: $XLM) blockchain.

Privately held MoneyGram joins a increasing database of outgo companies and banks that are moving into stablecoins, oregon integer dollars arsenic they’re known.

The caller stablecoin from MoneyGram is called “MGUSD” and is embedded into the MoneyGram app, allowing customers to clasp a dollar-denominated equilibrium successful a self-custodial integer wallet.

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Users tin transportation funds done the company's planetary payments network. The merchandise is present disposable successful the U.S. with plans for a broader planetary rollout successful coming months.

Stablecoins are cryptocurrencies whose worth is pegged to different asset, typically the U.S. dollar. 

Currently, stablecoins are 1 of crypto's fastest-growing areas of integer finance, with increasing involvement from banks, fintech firms, and outgo providers.

Advocates accidental stablecoins connection cheaper, faster and around-the-clock settlements compared to accepted banking, making them progressively fashionable for remittances. 

MoneyGram, with implicit 60 cardinal customers and fractional a cardinal retail locations worldwide, is hoping its stablecoin volition conscionable the needs of existing customers and pull caller ones. 

“We’re utilizing stablecoin arsenic a instauration to physique aboriginal applications connected our planetary network,” said Anthony Soohoo, CEO of MoneyGram, successful a written statement. 

The institution said the MGUSD (CRYPTO: $MGUSD) stablecoin is intended to service arsenic a halfway portion of infrastructure crossed its payments network. 

The motorboat builds connected MoneyGram's narration with the Stellar Development Foundation, a concern that has focused connected stablecoin-powered remittances for respective years.

As a backstage company, MoneyGram’s banal does not commercialized connected a nationalist exchange.