MoneyGram Launches Dollar-Backed MGUSD Stablecoin on Stellar with 500K Cash Outlets

MoneyGram has launched MGUSD, a dollar-pegged stablecoin on the Stellar blockchain, connecting digital money to approximately 500,000 cash locations across its global remittance network in 2026. The token is issued via Stripe's Bridge platform, with smart contracts managed by M0 and wallet security provided by Fireblocks. The non-custodial wallet integrates directly into MoneyGram's app, allowing users to hold and transfer digital dollars that convert to local currency at physical cash outlets worldwide.

The launch clarifies a long-standing misconception: MoneyGram ended its partnership with Ripple in 2021, years before MGUSD arrived. The company has also become a validator on the Solana blockchain, reflecting a multi-chain strategy where the stablecoin—rather than any single blockchain—remains the core asset. CEO Anthony Soohoo stated that MoneyGram believes the future of global money movement will be built on open, interoperable stablecoin rails accessible to anyone, anywhere.