Key Information

• José Fernández da Ponte, formerly the head of blockchain at PayPal, has joined the Stellar Development Foundation (SDF) as president and chief growth officer.

• Jason Karsh, a former executive at Block and Blockchain.com, will serve as the chief marketing officer at Stellar.

Details

José Fernández da Ponte has transitioned from his role at PayPal, where he managed the introduction of digital currencies and stablecoins, to lead the Stellar Development Foundation. He expressed a commitment to advancing financial inclusion through blockchain technology.

In an interview, he stated,

“I believe that blockchains are an artifact for a community of people working together in a decentralized way to fix problems.” (Translation: I think blockchains are tools for collaboration among communities to address issues.)

Likewise, Jason Karsh brings his expertise from roles at Coinbase and Blockaid, aiming to enhance Stellar’s impact and visibility.

Karsh emphasized,

“Stellar isn’t just another blockchain project; it’s financial infrastructure that is used every day by institutions and individuals around the world.” (Translation: Stellar is not merely another blockchain; it serves as financial infrastructure utilized daily by various entities worldwide.)

Fernández da Ponte’s previous experience includes significant roles at Banco Bilbao Vizcaya Argentaria (BBVA) and McKinsey. He was pivotal in launching PayPal’s PYUSD stablecoin.

His choice to join Stellar over remaining engaged in the competitive landscape of stablecoins centers on a strategy to bolster underlying technologies.

Additional Remarks

Stellar is known for its collaborations, most notably with MoneyGram to enhance access to financial services. The foundation also focuses on humanitarian efforts.

Currently, Stellar’s lumen (XLM) token has surged 38% this year, outperforming the CoinDesk 20 Index, which has risen 27%.