MoneyGram, an American company specialized in international payments and remittances, reports that it will launch MGUSD on June 2, 2026, a stablecoin linked to the US dollar that runs on the Stellar network. The asset will be integrated into the company’s payment and transfer services.
According to advertisement The company, MGUSD will operate first in the United States and could then expand to other markets as part of a future offering of financial products within its global network. The announced geographic restriction is striking considering that the Stellar network does not require personal identification by default to operate. We have to wait for the launch to know if it is an error in the press release, or if it can only be operated within a certain application.
The project involves several companies in the sector. Bridge, a company acquired by Stripe and specialized in stablecoin infrastructure, acts as a regulated issuer.
For its part, M0, a protocol aimed at issuing digital money, provides the smart contract infrastructure to create and destroy MGUSD units according to demand. Fireblocks, a custody and security platform for digital assets, is used by MoneyGram to safeguard funds.
The stablecoin will be integrated into the MoneyGram app, reportedly via a self-custody wallet (which is contradictory to the previously mentioned geographic restriction), which will allow users to maintain digital balances denominated in dollars, send funds and later convert them to local currency.
The launch comes at a time of strong growth in this market niche, currently dominated by USDT and USDC, the stablecoins of Tether and Circle, respectively.
Unlike these companies, MoneyGram does not present itself as an issuer specialized in digital assets, but as a traditional payments and remittance company that seeks to incorporate this technology into its existing infrastructure.
The company maintains that MGUSD will allow it to offer financial services to people affected by inflation, monetary instability or limited access to the banking system. However, the project lands in a highly competitive market, where stablecoins with greater liquidity, adoption and operational history already exist.
It should be noted that the relationship between MoneyGram and Stellar is not new. Both organizations have been collaborating for several years on remittance solutions supported by stablecoins. In this context, Denelle Dixon, executive director of the Stellar Development Foundation, He described MGUSD “as a natural evolution of that working together.”
MoneyGram claims to have more than 60 million active customers and a network of close to 500,000 service points around the world, a scale that could facilitate the adoption of the asset if the company manages to successfully integrate it into its services.
Beyond this launch, the movement reflects a broader trend within the financial industry: more and more traditional payment companies are looking to incorporate stablecoins into their operations, attracted by the possibility of making faster transfers and operating on digital infrastructure available 24 hours a day.
One firm that recently moved in this direction is Western Union. As reported by CriptoNoticias, on May 4, the international remittance company launched USDPT, a stablecoin on Solana aimed at digital payments and transfers.