# Mt. Gox and Ripple Founder Jed McCaleb Unveils Project 'Stellar'

> Stellar, a decentralized gateway for digital currency to fiat transfers founded by Jed McCaleb, officially launched with a native currency called 'stellar' distributed free to users. The platform aims to bridge fiat and digital currencies for mainstream adoption.

**Metadata**

- Published: 2014-07-31
- Author: Stan Higgins
- Original publisher: `www.coindesk.com`
- Original article: https://www.coindesk.com/markets/2014/07/31/mt-gox-and-ripple-founder-jed-mccaleb-unveils-project-stellar
- Tags: Payments, Bridges, Financial Inclusion

## Summary

Stellar, the decentralized payment platform founded by Jed McCaleb (former Mt. Gox founder and Ripple co-founder), has officially launched as a gateway enabling cross-border transactions between fiat and digital currencies. The platform features its own native currency, 'stellar', with a capped supply of 100 billion units, of which approximately 95% will be distributed free to users. Stellar acts as a transaction authenticator and technological middleman for fiat transfers, similar to Ripple and Bitcoin. The Stellar Development Foundation, led by Executive Director Joyce Kim, positions the platform as a bridge between traditional finance and digital currencies. The launch features a notable advisory board including former Square COO Keith Rabois, Stripe CEO Patrick Collison, Dogecoin co-founder Jackson Palmer, and AngelList co-founder Naval Ravikant.

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*Source: https://lumenloop.com/news/mt-gox-ripple-founder-jed-mccaleb-unveils-project-tellar*