MoneyGram launches MGUSD stablecoin on Stellar blockchain
- MoneyGram introduced its U.S. dollar-backed stablecoin, MGUSD, on the Stellar (XLM) blockchain.
- MGUSD allows users to hold a dollar-denominated balance in a self-custodial wallet within the MoneyGram app.
- The service is initially available in the U.S., with plans for an international rollout.
- Citi projects the market size for stablecoins could grow from $300 billion to $4 trillion by 2030.
- MoneyGram has partnered with Bridge, M0, and Fireblocks for infrastructure and regulatory compliance.
The launch of MGUSD marks a significant step for MoneyGram as it aims to enhance cross-border payments using blockchain technology, appealing to customers with limited financial access worldwide.
With over 60 million customers and nearly 500,000 retail locations, MoneyGram’s MGUSD aims to leverage stablecoins for efficient remittance services.(Source)
