Zelle co-founder Mike Kennedy becomes CEO of Interstellar, a for-profit company building payment protocols on Stellar. Kennedy plans to develop market making and liquidity solutions, positioning Stellar as a replacement for SWIFT and correspondent banking in international payments.
Mike Kennedy, co-founder of Zelle, has taken the CEO role at Interstellar, a for-profit company developing payment protocols on the Stellar network. Interstellar was created from a 2018 acquisition combining Lightyear.io and Chain, and focuses on enterprise solutions for Stellar adoption. Kennedy plans to build liquidity and market making capabilities that the non-profit Stellar Development Foundation cannot pursue, aiming to accelerate network growth. He believes Stellar's blockchain technology can outperform traditional international payment systems like SWIFT and correspondent banking by offering faster, more reliable, and lower-cost transfers. Kennedy previously founded Zelle, which became the dominant peer-to-peer payments system adopted by major U.S. banks.
