Stellar's stablecoin lineup looks different on June 2, 2026 than it did at the start of the year. USDC has been native since 2021. EURC arrived in 2023. YLDS, Figure's SEC-registered yield-bearing dollar product, landed in May 2026. And MGUSD, Bridge's USD stablecoin issued for MoneyGram, launched on June 2, 2026 per the company's PRNewswire release. Four issuer-grade stablecoins, four different design choices.
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Stellar carries four issuer-grade dollar and euro stablecoins as of June 2026: USDC (Circle), EURC (Circle), YLDS (Figure), and MGUSD (Bridge for MoneyGram). Each uses Stellar's native asset-issuance primitive, so each is addressable by trustlines, anchors, and path payments rather than wrapped from another chain.
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The four assets cover three distinct product categories. USDC and EURC are standard fiat-backed payment stablecoins from a single issuer (Circle). YLDS is a regulated yield product, structurally a tokenized face-amount certificate rather than a non-interest-bearing payment token. MGUSD is a payment stablecoin issued specifically to ride MoneyGram's roughly 500,000-location retail and digital distribution network, per the launch release. They are not interchangeable from an issuer or a regulatory standpoint, even though they all share Stellar's asset model underneath.
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Stellar itself is a payments-first Layer 1 launched in 2014, stewarded by the Stellar Development Foundation, running the Stellar Consensus Protocol with ledger close every 3 to 5 seconds. Asset issuance is a protocol primitive, which means an issuer creates a token by funding an issuing account and recipients opt in by establishing a trustline. This shape is the reason multiple regulated stablecoin issuers have settled on Stellar as a deployment chain. See the Stellar overview for the network mechanics in detail.
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USDC is Circle's flagship USD-pegged payment stablecoin. It went live as a Stellar-native asset in early 2021 and integrated into MoneyGram's cash-out network the same year. It is the longest-running regulated stablecoin on Stellar and the operational backbone for most of the network's stablecoin volume to date.
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Circle issues USDC against a reserve held in cash and short-duration US Treasury holdings, with monthly attestations published on Circle's site. On Stellar, USDC is addressable as a native asset under Circle's issuing account. The October 2021 MoneyGram and Stellar Development Foundation partnership announcement framed the USDC integration as a settlement layer for MoneyGram's cash-funding and payout flows, with the pilot starting in Q4 2021 and a broader rollout through 2022. By the time MGUSD launched in June 2026, USDC had been clearing remittance flows over Stellar for almost five years. See the MGUSD vs USDC comparison for the head-to-head specifics.
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EURC is Circle's euro-denominated stablecoin. It launched on Ethereum in June 2022 (originally branded Euro Coin or EUROC) and went live on Stellar on September 26, 2023, per Circle's press release at the time. It is currently multi-chain across Ethereum, Solana, Avalanche, Base, World Chain, and Stellar.
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Structurally EURC is the euro counterpart to USDC. Circle issues against euro-denominated reserves, with the same attestation cadence framework. The product matters on Stellar because EURC plus USDC plus Stellar's protocol-level pathfinding means a sender holding one asset can route a payment that delivers the other, with the network's path payments computing the intermediate hop through SDEX order books and Stellar's liquidity pools. That capability is part of why corridors involving euro on/off ramps lean on Stellar. See Circle's EURC documentation for issuer-side mechanics.
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YLDS is Figure Certificate Company's SEC-registered yield-bearing dollar product. Each YLDS token represents an unsecured debt obligation of the issuer, redeemable for one US dollar plus accrued yield. The product pays interest at SOFR minus 0.50%, accrued daily and paid monthly in USD or in additional YLDS tokens.
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YLDS originally launched on Provenance Blockchain in February 2025, added Solana in November 2025, and went live on Stellar on May 5, 2026 per the Stellar Development Foundation and Figure Technology Solutions joint announcement. Important structural note: YLDS is not a stablecoin in the same regulatory sense as USDC, EURC, or MGUSD. It is a registered security issued under a 1940 Act framework, with eligibility constraints attached to who can hold and transfer it. The Stellar deployment makes YLDS the first SEC-registered yield-bearing dollar product on the network. For the deeper YLDS explainer, see the YLDS on Stellar article.
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MGUSD is the newest entrant. It is a USD-pegged stablecoin issued by Bridge (a Stripe company), with M0's smart-contract infrastructure handling mint and burn, and Fireblocks managing MoneyGram's wallet holdings. Deployment is Stellar-native at launch, per the June 2, 2026 launch release.
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The partner stack matters. Bridge is the issuer of record, described in the release as a "regulated, GENIUS Act-ready issuer." M0 supplies the contract layer for supply mechanics. Fireblocks supplies wallet infrastructure for MoneyGram's holdings. Stellar supplies the settlement chain. MoneyGram supplies the distribution surface, framed in the release as roughly 500,000 retail locations plus an in-app self-custodial wallet. As of June 2026 limited public technical detail is available on contract addresses, supply caps, or anchor relationships specific to MGUSD; those will surface through onchain activity and follow-up documentation rather than the launch release. The launch release names US-first distribution with global scaling planned. See the MGUSD on Stellar mechanics article for the deeper teardown.
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Four dimensions separate these four assets: issuer, peg currency, product category (payment vs yield), and intended distribution model. USDC and EURC are issuer-direct payment stablecoins. YLDS is a registered security. MGUSD is a payment stablecoin tied to a specific distribution network.
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Issuer model is the first split. Circle issues USDC and EURC directly. Figure Certificate Company issues YLDS directly. MGUSD is structurally different because the brand on the token (MoneyGram) is not the issuer of record; Bridge is. The token is branded for MoneyGram's distribution, issued by Bridge, contract-managed by M0, custodied via Fireblocks. That four-party stack means changes to any one layer (issuer policy, contract upgrade, custody configuration, distribution change) have a clearer ownership boundary than in a single-issuer model. The trade-off is more parties to coordinate.
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Peg currency splits the four into three USD stablecoins (USDC, YLDS, MGUSD) and one euro stablecoin (EURC). Path payments on Stellar can route across the FX pair using SDEX liquidity, which is why having both denominations native to the same chain is useful for cross-border flows.
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Product category is where YLDS sits apart. USDC, EURC, and MGUSD are non-interest-bearing payment tokens. YLDS pays yield and is registered as a security, which brings regulatory eligibility constraints and tax treatment the payment stablecoins do not carry. Distribution model is the fourth split: USDC and EURC distribute through Circle's exchange and wallet partnerships, YLDS through Figure's regulated brokerage channels, and MGUSD through MoneyGram's retail and app footprint per the launch release.
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The table below summarizes the four assets on the dimensions that matter for an integrator or a remittance-oriented user. Dates and figures come from issuer press materials and the MGUSD launch release.

The table flattens a lot of nuance. Two assets share an issuer (USDC and EURC). One is a registered security (YLDS). One is distribution-branded but issued by a different entity (MGUSD via Bridge). Stellar's stablecoin set is not a single shape repeated four times; it is four distinct product types sharing a network.
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YLDS sits on the boundary between this payment-stablecoin landscape and Stellar's broader tokenized real-world-asset ecosystem, which includes Franklin Templeton's onchain money market fund, WisdomTree's tokenized funds, and other issuer-grade products beyond the four covered above. For that cousin topic, see the Stellar's tokenized RWA ecosystem article.
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A network that clears payment stablecoin volume and hosts SEC-registered yield products is a different shape than a network that does only one. MGUSD's June 2026 launch on top of that existing footprint is part of what the launch release frames as the operational basis for the chain choice.
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MGUSD is the youngest of the four assets and the most under-documented. As of June 2, 2026, the launch release establishes the partner stack (Bridge, M0, Fireblocks, Stellar, MoneyGram), the launch geography (US first), and the distribution surface. Several specifics that a Stellar integrator might want are not yet public:

The honest framing is that the partner stack and the Stellar deployment are real, and the operational granularity will surface over the weeks following launch rather than from the press release alone.
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One pattern that comes up across stablecoin deployments is the question of how a wallet or developer expresses an intent that abstracts which stablecoin and which chain delivers it. Eco Routes is an intent router that composes Hyperlane and CCTP as its underlying rails today; peer messaging layers including LayerZero and Wormhole, and peer aggregators including Across, LI.FI, Squid, and Jumper, exist in the same neutral set. Whether intent-level routing can address USDC, EURC, YLDS, and MGUSD interchangeably given their different issuer policies and regulatory frameworks is a forward question as of June 2026.
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Facts in this article come from primary issuer materials and dated press releases. The MGUSD specifics come from the June 2, 2026 PRNewswire launch release. USDC on Stellar dates trace to the October 2021 MoneyGram and Stellar Development Foundation announcement and Circle's USDC on Stellar page. EURC dates trace to Circle's EURC on Stellar press release. YLDS specifics come from the Stellar Development Foundation and Figure Technology Solutions May 2026 joint announcement and the YLDS product site. Network fee and ledger close figures come from the Stellar developer docs. Where the launch release does not specify a detail, the article notes that limited public detail is available as of June 2026.
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