The Stablecoin Wars Just Got A New Contender — And This One Has 500,000 Retail Locations
MoneyGram, one of the world's largest cross-border payments networks, launched its own branded US dollar stablecoin, MGUSD, on June 2. This marks a strategic shift from relying on third-party stablecoins like USDC to direct control over issuance and reserves. MoneyGram is an 85-year-old mainstream financial institution with 500,000 retail locations and over 50 million annual customers, primarily serving remittance-dependent families globally. Its launch of a native stablecoin, timed with the new US regulatory framework established by the 2026 GENIUS Act, significantly normalizes digital dollar instruments for a broad, non-crypto-native demographic. This move signals the stablecoin economy's convergence with the mainstream global payments industry.
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