MoneyGram Launches MGUSD Stablecoin on Stellar Blockchain on June 2

XLM-0.95%
According to CoinDesk, MoneyGram launched MGUSD, a US dollar-backed stablecoin, on the Stellar blockchain on June 2. The stablecoin is available in the MoneyGram app, allowing users to hold dollar balances in self-custodial wallets and transfer funds through MoneyGram's network, with broader international rollout planned. Bridge, a Stripe company, serves as the regulated issuer, while M0 built the smart contracts and Fireblocks provides wallet infrastructure.
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