Stellar-focused (XLM) crypto evolution visitor Interstellar appointed the founder of digital payments network Zelle Mike Kennedy as its new CEO.

On Sept. 12, the visitor announced the appointment in a Medium weblog post.

Stellar as an international payments system

Kennedy'south network Zelle is the payment organization used by JPMorgan Chase, Citi, Bank of America and many other financial institutions, co-ordinate to its website. Information technology is also claimed that Zelle manages over $50 billion in transaction volumes 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 meet another opportunity to solve a existent-world trouble. Today, international payments are inefficient, expensive, and slow. Millions of individuals and businesses would benefit from solving these bug. The Stellar Development Foundation (SDF) has developed what I believe is the all-time blockchain based payments network, enabling fast and inexpensive international payments."

Work lies ahead

That existence said, Kennedy too admitted that Stellar's ecosystem withal lacks some features needed to fulfill his vision. He also noted that, in his opinion, a nonprofit system such as SDF is unsuitable to solve this. This is Interstellar'south office, Kennedy added:

"This is where Interstellar comes in. We volition evangelize 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 meliorate for millions and millions of companies and finish users."

Not the only proclamation

Aslope Kennedy's appointment, Interstellar besides appear that information technology is "spinning-out a new app-focused company" called Pogo, which has been in stealth development for some time. The company in question reportedly aims to reach wallet interoperability and the post explains that the app takes advantage of Stellar's distinguishing features:

"As you lot'll see when the service goes alive, Pogo is the kind of awarding that Stellar is uniquely positioned to enable, thanks to the network's ability to create depression-friction, high-liquidity, real-fourth dimension corridors for FX settlement betwixt financial entities."

Every bit Cointelegraph reported earlier this month, American nugget management firm Franklin Templeton Investments has filed a preliminary prospectus with the United states Securities and Substitution Commission for a authorities coin market fund with a focus on blockchain-based shares.