MoneyGram Launches MGUSD Stablecoin on Stellar, Partners With NALA for Cross-Border Settlements

MoneyGram launched MGUSD, a U.S. dollar-pegged stablecoin built on the Stellar blockchain, on June 2, marking the company's entry into proprietary digital currency infrastructure. The stablecoin is designed to support international remittances and cross-border business transactions across MoneyGram's global network of over 500,000 locations.

In conjunction with the launch, MoneyGram announced a strategic partnership with NALA, a payment technology company serving emerging markets. The collaboration aims to cut settlement times from several days to minutes while reducing currency conversion costs across key international corridors, particularly between Africa and Asia.