TLDR Tech / Crypto
MoneyGram Launches MGUSD Stablecoin on Stellar
MoneyGram has launched MGUSD, a US dollar-backed stablecoin on the Stellar blockchain, issued by Stripe-owned Bridge with smart contracts from M0 and wallet infrastructure from Fireblocks. The stablecoin will be embedded in the MoneyGram app, letting customers hold a dollar-denominated balance in a self-custodial wallet and transfer funds across the company's network of 60 million customers and nearly 500,000 retail locations globally. The launch builds on a five-year partnership with the Stellar Development Foundation and positions MGUSD as the core settlement asset across MoneyGram's own payments infrastructure rather than a third-party stablecoin bolt-on.
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