Denelle Dixon, CEO of the Stellar Development Foundation, briefed the House Financial Services Committee on blockchain's role in transforming payments, focusing on how Stellar enables fast, low-cost cross-border remittances through real-world examples like Cowrie in Nigeria and Tempo in Europe.
The Stellar Development Foundation's CEO presented to the House Financial Services Committee FinTech Task Force on blockchain technology and its application to global payments and remittances. Dixon highlighted that 800 million people depend on remittances, which currently cost an average of 7% per transaction, and emphasized Stellar's ability to process cross-border payments in 3-5 seconds at fractions of a cent. She showcased live use cases including Cowrie, a Nigerian FinTech issuing NGNT (a Naira-backed digital asset), and Tempo in Europe issuing euro-backed assets, demonstrating how Stellar's interoperable infrastructure enables compliant, efficient payments between regions. Dixon stressed the importance of regulatory clarity for innovation and positioned the briefing as a positive step toward informed policymaking on blockchain technology.
