Interstellar has recently announced appointing of Mike Kennedy as CEO. The decision will be effective from the 15th of September.
Mike’s appointment comes after the news about the plans of investment fund Franklin Templeton to tokenize on the stellar network, the government’s share of the market fund. Interstellar has also shown an enthusiastic demonstration of growth in network and business operations appointing the current head Adam Ludwin as CEO to its another new venture, Pogo.
“We are thrilled to have Mike lead Interstellar through its next phase of growth,” says Jed McCaleb, a board member, and founder, Stellar Development Foundation. “Mike’s record of success founding and growing Zelle [fka clearXchange], his innovation in mobile payments, FX and banking, and his history as a high-impact advisor to Stellar make him the perfect fit to lead Interstellar.”
Mike is designated to oversee the areas of Interstellar, objectifying its aim to help foster the functioning of the firm in cross-border payments. Mike has in-depth experience and a demonstrated history of working in payment processes. He even started Zelle, one of the greatest P2P based payment systems across the United States. Mike had also served as North American President for OFX, the international payments provider, and headed North American wing is becoming the fastest growing organization.
Mike served as Wells Fargo as an Executive Vice President, Payments. Moreover, he is working with stellar development for 2 years now. No wonder Mike’s rich experience in the payment industry justifies his prestige for the position.
It will help Mike work in honoring the vision of the company. “I am excited about leading Interstellar, helping solve the real-world problems of making international payments faster, cheaper and more efficient,” he said in a statement.
“In my new role leading the spin-out, I look forward to collaborating closely with Mike and the team to leverage the world-class infrastructure Interstellar continues to build for the Stellar ecosystem,” Adam Ludwin said.
Pogo is an example of an app that Stellar is equipped to design and successfully deploy. All this can be attributed to the ability of the network to make a high-liquidity and low friction corridors in real-time for the settlement of FX amongst financial entities.
Kennedy said that the company has been connecting with various financial institutions to lure a wider user base. This implies working in the liquidity and market capabilities which industry players are widely interested in.
“That’s not something that makes sense for a nonprofit like the Stellar Development Foundation to do. However, it is something that would really help to drive growth and adoption of the network beyond the rates that we’re seeing today, and so that’s one of the things that we will likely do with Interstellar,” said Kennedy in another statement.