PayPal Blockchain Lead Jos Fernndez da Ponte Joins Stellar

Jos Fernndez da Ponte, PayPal's former head of blockchain who oversaw the company's digital currency and stablecoin initiatives, has joined the Stellar Development Foundation (SDF) as its President and Chief Growth Officer. Simultaneously, Jason Karsh, previously an executive at Block and Blockchain.com, has been appointed as Stellar's Chief Marketing Officer. Fernndez da Ponte stated his move was driven by Stellar's focus on financial inclusion and its work on improving financial infrastructure for applications like stablecoins. Karsh will focus on boosting Stellar's presence among developers, institutions, and the public. Stellar's lumen (XLM) token has increased by 38% this year, exceeding the CoinDesk 20 Index's 27% increase.