In a significant move that could reshape the future of blockchain infrastructure, José Fernández da Ponte, former Head of Blockchain at PayPal, has joined the Stellar Development Foundation (SDF) as President and Chief Growth Officer. The announcement comes alongside the appointment of Jason Karsh, a seasoned marketing executive with experience at Block, Coinbase, and Blockchain.com, as Stellar’s Chief Marketing Officer.

The dual hiring signals Stellar’s growing ambition to expand its blockchain footprint while doubling down on its humanitarian roots, particularly in advancing global financial inclusion.

Stellar: Infrastructure for Real-World Use Cases

Stellar, an open-source blockchain network, has long operated at the intersection of technology and humanitarian goals. With strategic partnerships like MoneyGram for global fiat on/off ramps and Franklin Templeton for tokenised assets, Stellar is uniquely positioned to deliver practical financial solutions.

Unlike blockchains focused solely on DeFi or speculative assets, Stellar has maintained a clear mission: building scalable infrastructure that supports financial inclusion. This was a major draw for Fernández da Ponte, who believes blockchain is best used to address systemic, real-world problems.

“Blockchains are a tool for decentralised communities to solve real issues,” he said in an interview. “If your mission is financial inclusion, there’s no better platform than Stellar to work on it.”

From Stablecoins to Blockchain Infrastructure

While at PayPal, Fernández da Ponte was instrumental in launching the company’s stablecoin, PYUSD. His leadership played a key role in shaping PayPal’s crypto strategy, especially its entrance into the stablecoin arena, a rapidly growing sector that now sees intense competition from financial institutions and tech firms alike.

However, his move to Stellar wasn’t an escape from the “stablecoin wars,” as he put it, but rather a strategic shift toward strengthening the underlying infrastructure that enables such financial tools to function at scale.

“The stablecoin wars will be interesting,” he said, “but to make stablecoins truly useful, you need robust infrastructure. That’s why working at the blockchain layer is critical.”

Karsh to Drive Ecosystem Growth and Public Engagement

Meanwhile, Jason Karsh steps in as CMO to boost Stellar’s visibility across developers, institutions, and the general public. Known for his work on brand and product strategy at leading firms, Karsh plans to integrate marketing efforts across Stellar’s ecosystem.

“Stellar isn’t just another blockchain project,” said Karsh. “It’s real financial infrastructure used every day. Our job now is to accelerate its adoption by builders, enterprises, and users who care about fast, secure, and programmable financial tools.”

His appointment underscores Stellar’s intent to compete not just on technology but also on brand perception and usability.

A Strong Start to 2025 for Stellar

The strategic hires come as Stellar’s native token, lumen (XLM), has risen 38% year-to-date, outperforming the CoinDesk 20 Index, which is up 27% in the same period. The rally reflects growing investor confidence in Stellar’s long-term relevance and utility.

With a strong leadership team now in place and a clear focus on real-world adoption, Stellar is positioning itself as a major player in blockchain’s next phase, one defined less by hype and more by tangible impact.

A Shift from Hype to Purpose

The addition of two veteran executives signals a maturity phase for Stellar. With Fernández da Ponte focused on scaling infrastructure and Karsh driving adoption, Stellar appears ready to fulfil its long-held mission: making blockchain an enabler of inclusive, global finance.

As the crypto landscape evolves, Stellar’s focus on infrastructure and usability may become its strongest asset, especially as regulatory and market pressures demand more than just innovation, but meaningful impact.