AI · Crypto Briefing
MoneyGram publishes MGUSD stablecoin on Stellar
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MoneyGram's stablecoin aims to transform remittance services through integration with a trusted payments network.
Key facts
- Backed by a network of more than 60 million customers and nearly 500,000 retail locations, the company believes it has the distribution and infrastructure necessary to scale stablecoin adoption
- Their five-year partnership with MoneyGram is proof that stablecoins have moved well beyond pilots,” said Denelle Dixon, the Foundation’s Executive Director
- MoneyGram has rolled out MGUSD, a native US dollar stablecoin that will underpin a growing range of financial services across its global payments network
- MoneyGram says MGUSD addresses challenges such as inflation, currency instability, and limited banking access, with a focus on serving remittance users and financially underserved populations
Summary
MoneyGram has rolled out MGUSD, a native US dollar stablecoin that will underpin a growing range of financial services across its global payments network. MGUSD is made possible through partnerships with Bridge as the regulated issuer, M0 for token issuance infrastructure, and Fireblocks for wallet custody and distribution, the company said. Initially launched in the US, MGUSD will be embedded into a self-custodial wallet experience, enabling users to hold, send, and access dollar-denominated balances around the clock. MoneyGram says MGUSD addresses challenges such as inflation, currency instability, and limited banking access, with a focus on serving remittance users and financially underserved populations.