What is MGUSD?

MGUSD is a US dollar-backed stablecoin issued by MoneyGram on the Stellar blockchain. The token is issued by Bridge, a Stripe-owned company operating under the GENIUS Act framework, with smart contracts for minting and redemption developed by M0 and wallet infrastructure provided by Fireblocks. MGUSD is embedded directly into the MoneyGram mobile app, allowing customers to hold a dollar-denominated balance in a self-custodial wallet and transfer funds through the company's global payments network of nearly 500,000 retail locations. The stablecoin launched initially in the United States, with a phased global rollout planned across MoneyGram's 60 million active customers. The launch builds on a five-year partnership between MoneyGram and the Stellar Development Foundation, during which the company previously used Stellar-based infrastructure for USDC-powered transfers.