MoneyGram has launched MGUSD, a new U.S. dollar-backed stablecoin on the Stellar blockchain, marking the company’s latest step toward integrating blockchain technology into global payments and remittances.
The announcement positions the digital asset as a core component of MoneyGram’s future payments infrastructure and follows years of investment in stablecoin-based financial services.
MoneyGram announced the launch of MGUSD on June 2, 2026
The move was independently confirmed by the Wall Street Journal.
How MGUSD Fits Into MoneyGram’s Payments Strategy
MoneyGram said MGUSD is a dollar-pegged stablecoin built on the Stellar network. The company plans to use it initially for treasury management, settlement operations, and foreign exchange activities before expanding availability to consumers.
According to MoneyGram’s official announcement, the stablecoin will support blockchain-based payment and settlement services.
The company stated that blockchain settlement can reduce friction in cross-border payments while allowing funds to move faster between jurisdictions.
The rollout begins in the United States. MoneyGram expects broader international availability later in 2026.
Stellar Partnership Moves Into a New Phase
The launch builds on MoneyGram’s long-running relationship with the Stellar Development Foundation.
In April 2026, the two organizations announced a multi-year extension of their partnership focused on expanding stablecoin utility worldwide.
The Stellar Development Foundation said the collaboration has already produced one of the largest cash on-ramp and off-ramp networks for digital assets.
The partnership also supports stablecoin balances within the MoneyGram application in selected markets.
crypto.news reported that both organizations continue targeting regions where remittances play a significant economic role.
CEO Targets Broader Stablecoin Adoption
MoneyGram Chairman and Chief Executive Officer Anthony Soohoo said the company intends to make MGUSD a central component of its payments strategy.
The Wall Street Journal reported that MoneyGram wants customers to send, receive, hold, and convert value using MGUSD.
The company serves approximately 60 million active users globally.
The strategy could appeal to consumers living in countries experiencing inflation or currency volatility.
Stablecoins allow users to hold digital dollars while retaining access to local currency conversion services.
Stablecoin Competition Intensifies
MoneyGram enters a stablecoin market that continues to expand rapidly. The sector remains dominated by established issuers such as Tether and Circle, while traditional payments firms increasingly explore their own digital dollar products.
The Wall Street Journal reported that the global stablecoin market now exceeds $300 billion.
Investors, regulators, and payments companies will closely monitor whether MGUSD can achieve meaningful adoption beyond MoneyGram’s existing remittance network as blockchain-based payments continue gaining traction across global finance.
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