Why MoneyGram Built Its Own Stablecoin Instead of Using Someone Else's | Anthony Soohoo, MoneyGram
On today's Talking Tokens, Jacquelyn sits down with MoneyGram CEO Anthony Soohoo to talk about MGUSD, the company's new dollar-backed stablecoin built on Stellar with help from Bridge, Fireblocks, and M0.
Anthony explores why launching MoneyGram decided to have its own stablecoin and breaks down how its 60 million active customers and nearly 500,000 retail locations across 200 countries play a role in it. Jacquelyn and Anthony also discuss why the real winners in this space might be the ones who make stablecoins disappear into the background entirely and how the asset can have a dual role in finance.
TIMESTAMPS 00:00 Introduction to MGUSD and MoneyGram's Vision 03:04 The Complexity of Cross-Border Payments 06:31 Leveraging Existing Infrastructure for Adoption 10:15 The Role of Cash in a Digital Future 12:35 Stablecoins as a Preferred Payment Method 14:09 Self-Custody and User Education 18:22 The Future of Stablecoins and Consumer Adoption 21:33 Navigating Regional Differences in Adoption 24:07 Stablecoins vs. Traditional Banking 25:52 Choosing the Right Partners for MGUSD 28:40 The Dual Role of Stablecoins in Finance 31:21 Lessons from the Crypto Industry 34:51 Advice for Success in the Financial Space
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Why MoneyGram Built Its Own Stablecoin Instead of Using Someone Else's | Anthony Soohoo, MoneyGram
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