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MoneyGram Launches MGUSD Stablecoin on Stellar to Aid Remittances

6/2/2026

Summary

MoneyGram Launches Stablecoin

MoneyGram launches MGUSD, a U.S. dollar-pegged stablecoin on the Stellar blockchain, in the United States on June 2, 2026.
Bridge, a Stripe-owned platform, issues MGUSD while M0 writes the minting smart contracts.
CEO Anthony Soohoo says MGUSD will help families sending money home and billions lacking financial access.
Citi projects the stablecoin market could rise from about $300 billion now to $4 trillion by 2030.

Summary

Western Union Launches

A 2026 BIS paper warned cross-border payments stay costly and slow, noting a $200 transfer cost 6.36 % in Q3 2025—double the 3 % UN target.
MoneyGram partnered with Kraken on May 5 2026 to convert crypto into cash and with Tempo for settlement, while the Stellar network’s minimum fee is 100 stroops (?$0.000002).
Western Union launched its USDPT stablecoin on Solana in Bolivia and the Philippines on May 5 2026, planning expansion to over 40 countries.

History

Historical Context

Facebook unveiled the Libra stablecoin in June 2019, backed by a consortium that each pledged $10 million and planned a basket of currencies. Intense scrutiny from U.S. lawmakers and G-7 officials forced a 2020 rebrand to Diem, which was wound down in January 2022. Today MoneyGram and Western Union are launching Stellar- and Solana-based tokens to serve unbanked users, while regulators tighten oversight.

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MoneyGram Launches Stablecoin

MoneyGram launches MGUSD, a U.S. dollar-pegged stablecoin on the Stellar blockchain, in the United States on June 2, 2026.
Bridge, a Stripe-owned platform, issues MGUSD while M0 writes the minting smart contracts.
CEO Anthony Soohoo says MGUSD will help families sending money home and billions lacking financial access.
Citi projects the stablecoin market could rise from about $300 billion now to $4 trillion by 2030.

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