The Stellar Development Foundation (SDF) has welcomed two high-profile executives to its leadership team in a strategic move aimed at accelerating its mission of financial inclusion and blockchain infrastructure development. José Fernández da Ponte, former head of blockchain at PayPal, has joined Stellar as its new President and Chief Growth Officer. Alongside him, Jason Karsh, an experienced marketing leader with tenures at Block, Blockchain.com, and Coinbase has taken on the role of Chief Marketing Officer.

The appointments signal a renewed focus on institutional adoption, public awareness, and infrastructure scalability as Stellar strengthens its position in the blockchain ecosystem.

Why Stellar? A Mission-Driven Move

José Fernández da Ponte is no stranger to the blockchain world. At PayPal, he played a key role in the rollout of the firm’s digital asset initiatives, including the launch of the PayPal USD (PYUSD) stablecoin. With decades of experience including leadership roles at BBVA and McKinsey, his move to Stellar reflects a deliberate shift from fintech frontlines to blockchain’s foundational layer.

“I believe that blockchains are an artifact for a community of people working together in a decentralised way to fix problems,” he said in an interview. “If the problem you’re trying to solve is financial inclusion, then there’s no better place than Stellar.”

This mission-first mindset resonates with Stellar’s decade-long focus on expanding access to financial services in developing regions. From tokenising real-world assets to enabling cross-border remittances through partnerships like MoneyGram, Stellar is positioning itself as a critical layer of global financial infrastructure.

Karsh to Spearhead Ecosystem Growth

Jason Karsh’s appointment as Chief Marketing Officer underscores Stellar’s ambition to broaden its global appeal. With a background in brand strategy and product marketing at major blockchain firms, Karsh brings a wealth of experience in scaling ecosystem engagement.

“Stellar isn’t just another blockchain project; it’s financial infrastructure used daily by institutions and individuals worldwide,” Karsh said. His role will focus on unifying the brand, ecosystem, and product narratives to attract developers, institutions, and retail users alike.

Karsh’s prior work at security firm Blockaid and Coinbase adds an extra layer of credibility to Stellar’s push for enterprise-grade security and user-friendly programmability, two pillars critical for blockchain adoption at scale.

Building for the Future of Stablecoins

While Fernández da Ponte helped launch PayPal’s PYUSD stablecoin, his decision to shift away from the frontlines of the “stablecoin wars” was a strategic one. Rather than compete in the product layer, he aims to support the broader ecosystem from the infrastructure level.

“The stablecoin wars are going to be interesting,” he acknowledged. “But we need to have the technology primitives for those stablecoins to be useful, and that’s why working at the blockchain level is so important.”

This perspective aligns with Stellar’s emphasis on being more than just a token or payments platform. The network enables seamless on/off-ramps, tokenisation, and cross-border transfers, all essential building blocks for future financial applications.

XLM Outperforms Market in 2025

Stellar’s native token, lumen (XLM), has delivered a strong performance this year, rising 38% year-to-date outpacing the CoinDesk 20 Index, which rose by 27%. The growth reflects increasing confidence in Stellar’s real-world use cases and recent institutional momentum.

With Fernández da Ponte and Karsh now onboard, Stellar appears poised to deepen its impact in both developed and emerging markets. As crypto infrastructure evolves, Stellar’s dual focus on technology and humanitarian purpose may give it an edge in the next phase of blockchain adoption.

Leadership for Purpose and Scale

The latest leadership changes at Stellar aren’t just executive reshuffles, they mark a strategic realignment toward meaningful adoption, global growth, and mission-driven development. With José Fernández da Ponte and Jason Karsh at the helm of growth and marketing, the Stellar Development Foundation is positioning itself to be a key player in shaping the future of inclusive blockchain infrastructure.