MGUSD - Coinfea https://coinfea.com Crypto and Blockchain News Tue, 23 Jun 2026 14:42:20 +0000 en-US hourly 1 https://coinfea.com/wp-content/uploads/2022/04/cropped-Cfeawhite-1-32x32.png MGUSD - Coinfea https://coinfea.com 32 32 MoneyGram becomes a validator on Solana https://coinfea.com/moneygram-becomes-a-validator-on-solana/ Tue, 23 Jun 2026 14:42:18 +0000 https://coinfea.com/?p=22392 MoneyGram, one of the largest global money transfer companies, has officially joined the Solana ecosystem. According to the company, the step was taken with the intention of expanding its core financial services to the Solana blockchain. In a report on Monday, MoneyGram said it has launched a validator and also joined the Solana Developer Platform […]

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]]> MoneyGram, one of the largest global money transfer companies, has officially joined the Solana ecosystem. According to the company, the step was taken with the intention of expanding its core financial services to the Solana blockchain.

In a report on Monday, MoneyGram said it has launched a validator and also joined the Solana Developer Platform (SDP) as an infrastructure partner. Being a validator allows the global payment leader to stake SOL tokens, process blocks, and directly participate in the network’s security. “Running a validator puts MoneyGram inside Solana’s consensus,” said Luke Tuttle, Chief Product and Technology Officer at MoneyGram.

MoneyGram says becoming a Solana validator was the next step

The move will see MoneyGram connect its network of nearly 500,000 retail locations, with over 60 million customers, to Solana’s on-chain infrastructure, according to the announcement. The firm said joining the Solana ecosystem comes as a natural extension of its commitment to integrating crypto into its core global payments platform over the last five years. In 2019, MoneyGram partnered with RippleNet and processed billions of transactions using XRP-based On-Demand Liquidity products.

However, the partnership was shelved following the Ripple-SEC ordeal in 2021. By joining and running a Solana validator, Tuttle said the idea is that MoneyGram helps “run the rails we move money on.” Solana now counts as the third network where the global payment giant operates a validator. In May, MoneyGram became one of the select groups of institutions designated to run a validator for remittance transactions on the Tempo network.

MoneyGram is also among the early node operators of the Midnight network, launched in March 2026 by Cardano founder Charles Hoskinson. MoneyGram’s move to Solana comes less than one month after it launched its stablecoin on Stellar, MGUSD, Cryptopolitan reported. MGUSD is a US dollar-backed stablecoin, currently available only to US customers on its mobile app.

“MoneyGram has spent the past several years integrating blockchain into our payment infrastructure, and everything we are building now leverages this foundation,” said Anthony Soohoo, Chairman and CEO, MoneyGram. “Engaging with Solana is the next step in that journey.”

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]]> MoneyGram launches stablecoin for cross-border payments https://coinfea.com/moneygram-launches-stablecoin-for-cross-border-payments/ Tue, 02 Jun 2026 15:43:32 +0000 https://coinfea.com/?p=21993 MoneyGram, the popular global payment platform, announced on Tuesday the launch of MGUSD, a stablecoin pegged to the US dollar and built on the Stellar blockchain. This new stablecoin product would make the digital dollar available on its app initially for US customers, with plans to expand to its global 60 million users. The MGUSD […]

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]]> MoneyGram, the popular global payment platform, announced on Tuesday the launch of MGUSD, a stablecoin pegged to the US dollar and built on the Stellar blockchain. This new stablecoin product would make the digital dollar available on its app initially for US customers, with plans to expand to its global 60 million users.

The MGUSD token gives MoneyGram customers a wallet balance inside the company’s existing app, allowing the holding and transfer of USD through MoneyGram’s wide network of 500,000 retail locations worldwide. The newly launched stablecoin has been built with help from three major infrastructural partners. Bridge would be the MGUSD stablecoin’s issuer, a stablecoin platform Stripe acquired in February 2025. The smart contracts handling the minting of the stablecoin were written by M0, while Fireblocks provides the wallet layer in the MoneyGram app.

MoneyGram unveils new MGUSD stablecoin

“Starting with our distribution platform, we’re using stablecoin as a foundation to build future applications on our global network,” MoneyGram chairman and CEO Anthony Soohoo said in a statement. “MGUSD is the stablecoin we built for our customers, for the families sending money home and for the billions of people around the world with limited financial access.”

MoneyGram picking Stellar as the blockchain of choice is also unsurprising, as the company has worked with the Stellar Development Foundation on stablecoin-powered remittance services for almost five years. Stellar Development Foundation CEO Denelle Dixon called the launch “the next milestone that demonstrates what purpose-built blockchain can deliver when paired with a trusted payments network.”

MoneyGram joins a widening group of payment companies and banks racing to wrap stablecoins into their existing products. SoFi recently unveiled its own stablecoin, SoFiUSD. PayPal and Western Union have both partnered with crypto infrastructure firms (Paxos and Anchorage Digital, respectively) to offer stablecoin services. This recent uptick makes a lot of logical sense. Blockchain-based digital dollar tokens help to cut costs and are settled at record-fast time, 24/7, compared to traditional banking.

Citi has projected the stablecoin market could grow from roughly $300 billion today to $4 trillion by 2030. MoneyGram’s angle differs slightly from pure fintech plays. The company already operates one of the world’s largest physical cash-in, cash-out networks. Pairing that with a stablecoin could empower its users to move value digitally and still withdraw cash at a local agent, offering a feature that purely digital stablecoin products do not have access to.

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