Last Updated on October 27, 2026 by TMB
MoneyGram, the global fund transfer giant, has updated its app to support a new customer experience that unifies several functions in one place. Users can now access money transfers, bill payments, and stablecoin access in a single app. MoneyGram’s update is live and accessible across several jurisdictions.
Unified App Simplifies Fragmented Transfer Services
According to a MoneyGram news release, the app lets users do much more than transfer funds across borders. Customers can pay bills, complete mobile top-ups, and hold their funds digitally. In addition, MoneyGram lets users benefit from stablecoins. The release says the stablecoin infrastructure is an important part of the company’s offerings, and users don’t need a deep understanding of blockchains to access this feature.
MoneyGram Chairman and CEO Anthony Soohoo said the update was necessary to connect a disintegrated funds transfer market. According to Soohoo:
“Global money movement has become increasingly fragmented, forcing consumers to navigate different systems depending on how they want to pay, receive or use their money. We’re changing that. MoneyGram is bringing digital money movement, cash access and stablecoin-powered services together in one connected experience. Consumers get more choice and greater control over how they send, receive, hold and use their money, wherever they are.”
MoneyGram is combining its digital features with a physical network of merchants across over 200 countries and territories. The company now boasts more than 60 million active customers and continues to expand its digital ecosystem.
Launching Private Stablecoins
In June, MoneyGram announced its own MGUSD stablecoin, described as the foundation for a range of financial services across its network. MGUSD is natively issued on the Stellar network, with Bridge as the regulated issuer. Minting and burning use M0’s smart contract infrastructure, with MGUSD held in Fireblocks wallets.
Back in May, MoneyGram rival Western Union also launched its stablecoin. Western Union’s USDPT is issued by Anchorage Digital Bank and is native to the Solana network. According to Western Union, customers in select markets can use its Digital Asset Network service to withdraw their USDPT for cash in local fiat currencies. In addition, Western Union is making adoption easier by letting people use a mobile app and a Visa payment card to make purchases via USDPT at Visa-supported locations.
The push for stablecoin issuance is ramping up as several traditional institutions continue to drive into the crypto market. In September, a group of 21 financial institutions announced plans to create a company to issue a dollar-pegged stablecoin sometime in the first half of next year. Some of the banks involved include Bank of America, Deutsche Bank, Citi, and Goldman Sachs. This group will compete with Qivalis, an Amsterdam-based consortium of financial institutions planning to launch a euro-backed stablecoin this year. Qivalis comprises 37 European institutions across 15 countries. Members include BNP Paribas, ING, BBVA, Bank of Ireland, and National Bank of Greece, among others.
