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.
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.