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MoneyGram Launches Native USD Stablecoin MGUSD

On June 2, according to a press release, payment giant MoneyGram announced the launch of its native USD stablecoin MGUSD, which will serve as the infrastructure for a range of financial services within its global payment network. MGUSD is initially deployed on the Stellar blockchain, with Bridge (a subsidiary of Stripe) acting as the regulated issuer, M0 responsible for the smart contract infrastructure for token minting and burning, and Fireblocks providing wallet support. MGUSD will be integrated into its app's self-custody wallet, initially available in the U.S. market, with plans for gradual expansion worldwide.

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