MoneyGram Drops MGUSD Stablecoin ๐ช on Stellar โก
MoneyGram enters the stablecoin game ๐ฏ Launched MGUSD, a USD backed stablecoin on Stellar blockchain ๐ Targets 60M+ active customers worldwide ๐ฅ Rollout starts in US ๐บ๐ธ then goes global ๐
๐ช MGUSD Launch Details
โก๏ธ Issued by Bridge, Stripe-owned company under GENIUS Act framework ๐ฆ
โก๏ธ Smart contracts powered by M0 for mint/burn ๐ง
โก๏ธ Custody via Fireblocks wallets before moving to MoneyGram app wallets ๐
โก๏ธ CEO Anthony Soohoo: โBuilt for families sending money home + billions with limited financial accessโ ๐ธ
๐ MoneyGramโs Stablecoin Push ๐
โก๏ธ Latest move after months of crypto integration:
โก๏ธ Sept 2025 USDC remittances in Colombia via Crossmint + cashout at 6K+ locations ๐ง
โก๏ธ Dec 2025 Fireblocks for stablecoin settlements ๐ค
โก๏ธ Last month anchor validator on Stripe/Paradigm-backed Tempo blockchain ๐
โก๏ธ May 2026 crypto-to-cash withdrawals for Kraken users ๐ต
โก๏ธFeb 2026 validator for Cardanoโs Midnight privacy sidechain ๐ถ๏ธ
Now launching own token instead of just using USDC/third-party coins ๐
๐ Stellar Partnership + Industry Trend
โก๏ธ Stellar Development Foundation calls MGUSD the โnext milestoneโ after 5+ years of USDC-powered transfers โก Denelle โก๏ธ Dixon: shows what payment-focused blockchains can do with global money networks ๐ก
โก๏ธ Industry shift ๐ฆ Traditional payments firms launching own stables:
โก๏ธ Western Union USDPT on Solana ๐ฃ PayPal + Visa adding stablecoin settlement ๐ณ
โก๏ธSociete Generale expanded EURCV + USDCV to DeFi ๐
Bottom line ๐ฏ MoneyGram betting on owned stablecoin rails for remittances. MGUSD = faster, cheaper transfers for underbanked ๐ธ
#MoneyGram #MGUSD #Stellar #Remittances #XLM $XLM