MGUSD chose Stellar as the initial chain, with Bridge acting as the issuer. MoneyGram's coordinated efforts are quite solid—an established payment company is finally not just providing a channel but starting to mint its own currency.

BlockBeats reports that MoneyGram announced the launch of its native US dollar stablecoin MGUSD, as the infrastructure for the global payment network. MGUSD is initially deployed on the Stellar blockchain, with Bridge (a Stripe subsidiary) serving as the regulated issuer, M0 providing the smart contract infrastructure for minting and burning, and Fireblocks offering wallet support. MGUSD will be integrated into its app's self-custody wallet, launching first in the United States and gradually expanding globally.