MoneyGram Launches MGUSD Stablecoin on Stellar Blockchain

MoneyGram has launched its U.S. dollar-backed stablecoin, MGUSD, on the Stellar blockchain, marking a significant step in the company's digital payments strategy. According to CoinDesk, the stablecoin will initially be available to U.S. users, with plans for a global rollout to MoneyGram's 60 million customers. MGUSD is issued by Stripe-owned Bridge and utilizes smart contracts from M0 and wallet infrastructure from Fireblocks. This move aligns with the growing trend of using stablecoins for cross-border payments, offering potentially cheaper and faster transactions compared to traditional banking methods.