XLM hires Mike Kennedy! XLM hires Mike Kennedy as their new CEO. On Sept. 12, the company announced the appointment in a Medium blog post.
Mike Kennedy is formally from Zelle, a payment system used by JPMorgan Chase, Citi, Bank of America, and many other financial institutions. It claims to manage over $50 billion in transactions from over 25 million users.
Now, Interstellar expects Kennedy and his team to build new services for Stellar. Kennedy illustrated his ideas:
“With Interstellar I see another opportunity to solve a real-world problem. Today, international payments are inefficient, expensive, and slow. Millions of individuals and businesses would benefit from solving these problems. The Stellar Development Foundation (SDF) has developed what I believe is the best blockchain based payments network, enabling fast and inexpensive international payments.”
His remarks, while positive, acknowledged that Stellar’s ecosystem still had some features that needed improving upon. A non profit organization like the SDF will not be enough. Kennedy further added:
“This is where Interstellar comes in. We will deliver these missing pieces of the puzzle to allow the Stellar network to achieve its potential. We will solve the remaining problems, turbocharging adoption and growth — making international payments better for millions and millions of companies and end users.”
Interstellar has also announced that a new company, called Pogo, would be spun out as well. The company reportedly aims to achieve wallet interoperability and the post explains that the app takes advantage of Stellar’s distinguishing features.
“As you’ll see when the service goes live, Pogo is the kind of application that Stellar is uniquely positioned to enable, thanks to the network’s ability to create low-friction, high-liquidity, real-time corridors for FX settlement between financial entities.”
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