Circle · Bitcoinist
MoneyGram, one of the world’s largest cross-border payments networks, announced on June 2 the launch of MGUSD
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The move marks a decisive shift in MoneyGram’s stablecoin strategy.
Key facts
- It is a 85-year-old payments institution operating across more than 200 countries with approximately 500,000 retail locations and over 50 million customers annually, and it issued its own digital
- MoneyGram’s infrastructure buildout has been deliberate and sequential, Stellar partnership in 2021, Fireblocks treasury integration in December 2025, Tempo blockchain validator status in May 2026
- The GENIUS Act, signed into law earlier in 2026, established the first formal US regulatory framework for stablecoin issuers, a development MoneyGram CEO Anthony Soohoo had publicly described
- Until now the Dallas-based company had built its digital dollar services on third-party infrastructure, primarily Circle’s USDC, deployed through its Stellar Development Foundation partnership
Summary
MoneyGram, one of the world’s largest cross-border payments networks, announced on June 2 the launch of MGUSD, a native US dollar stablecoin bearing the company’s own brand and designed to serve as the foundational layer for a growing suite of financial services across its global remittance network, per the company’s official press release. A branded native stablecoin hands MoneyGram direct control over issuance, reserve management, and the yield economics that previously flowed to external issuers. MoneyGram is not a crypto-native company building a stablecoin for crypto-native users. The timing is deliberate.