MoneyGram launches stablecoin on Stellar, joining rush toward digital dollar payments

MGUSD, issued by Stripe's Bridge, will power services across MoneyGram's global network as stablecoins gain traction in cross-border payments. What to know : MoneyGram announced it launched its U.S. dollar-backed stablecoin MGUSD on the Stellar blockchain on Tuesday. The token will first be available for U.S. users with plans for global rollout across the firm's 60 million customers as stablecoins increasingly compete in cross-border payments. MGUSD is issued by Stripe-owned Bridge, with smart contracts from M0 and wallet infrastructure from Fireblocks.