MoneyGram Launches MGUSD Stablecoin via Stellar for 60M Global Users

• MGUSD debuts at Money20/20 Europe for U.S. users, with global rollout planned.
• Launch leverages MoneyGram’s hybrid cash/digital network, intensifying stablecoin competition.

On June 2, 2026, The Fintech Times reported that MoneyGram launched MGUSD, a U.S. dollar-pegged stablecoin on the Stellar blockchain, at the Money20/20 Europe event in Amsterdam. MGUSD is initially accessible to U.S. users via the MoneyGram app, with plans for global expansion across the company’s 60 million-user base. The stablecoin aims to streamline cross-border payments and remittances by connecting MoneyGram’s physical cash-in/cash-out retail network with digital blockchain infrastructure.

Bridge, a Stripe-owned stablecoin platform, issues MGUSD. M0 powers the underlying smart contract technology, and Fireblocks provides wallet infrastructure. This collaboration enables MoneyGram to deliver seamless value transfers both digitally and in cash, marking a strategic advancement beyond purely digital stablecoin solutions.

MoneyGram’s move positions the company against competitors such as SoFi, PayPal (partnered with Paxos), and Western Union (utilizing Anchorage Digital), who have also accelerated stablecoin offerings. This intensifies competition in the global remittance and payments sector, where traditional payment firms and banks continue to adopt stablecoins to cut costs and provide real-time settlements.

Industry analysts expect the stablecoin market to expand from its current $300 billion valuation to $4 trillion by 2030. MoneyGram’s hybrid approach could increase adoption among the unbanked and cash-dependent users, adding pressure to established and emerging players in the sector.

As of June 2, 2026, 14:09 UTC, Stellar (XLM) is trading at $0.232, with a 10.13% decrease in 24-hour volume, according to CoinMarketCap.