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Deep Tide TechFlow News, June 2nd, according to PRNewswire, the payment giant MoneyGram announced the launch of its native US dollar stablecoin MGUSD, as the infrastructure for a series of financial services within its global payment network.
MGUSD is initially deployed on the Stellar blockchain, with Bridge (a Stripe subsidiary) serving as the regulated issuer, M0 responsible for the smart contract infrastructure for minting and burning tokens, and Fireblocks providing wallet support.
MoneyGram stated that MGUSD will be integrated into its app's self-custody wallet, initially open to the U.S. market, with plans to gradually expand globally.