Abstract : Mike Kennedy hopes to build innovative solutions to address the need for fast, low-cost cross-border payments options for billions of people in Southeast Asia and across the globe.
On March 15, 2021, Velo Labs and Interstellar jointly announced that the Interstellar team, under the leadership of Mike Kennedy and with the ongoing support of its ecological partners, the Stellar Development Foundation and the Lightnet Group, is integrating with Velo Labs, based in Southeast Asia.
During the "Interstellar and Velo Labs Join Forces Global Strategy Launch Ceremony" held by Velo Labs, ChainDD and Stellar online, Mike Kennedy, the CEO of Velo Labs, gave a keynote speech on "New Opportunities and Future Development Strategies for Velo Ecosystem".
The speech content is as follows:
Hi, I am Mike Kennedy, the current CEO of Interstellar, former founder and CEO of Zelle, and with this announcement the incoming CEO of Velo Labs.
When the Interstellar and Velo partnership began more than a year ago, our goal was to revolutionize international payments using blockchain technology in Southeast Asia. With Interstellar’s knowledge and expertise of the Stellar blockchain, combined with Velo’s established partnerships across the Southeast Asia region, the partnership quickly gained momentum and the potential to accelerate implementation and adoption in the region became clear.
Now, the integration of the Velo and Interstellar teams is a natural progression of the work we’ve done thus far, and will facilitate the pursuit of our vision to make cross-border payments faster, cheaper and more efficient.
Velo Labs holds a unique strategic position in the Southeast Asia market, having fostered relationships with key stakeholders across the region, including the support of companies like Lightnet, and the CP Group, which is one of the largest conglomerates in the world.
By joining forces with Interstellar the joint project benefits in many ways: from blockchain expertise, to access to the Stellar Development Foundation, to experienced leadership including my experience as the founder and CEO of Zelle, which we built from an idea to being the largest person to person payments network in the US, processing over $300 billion worth of transactions in the US in 2020 alone.
Given all of this, I am confident of the ability of Velo to become a market leader powering new ways of moving value across the globe.
Over the course of the last year, the partnership has accomplished significant milestones, including the issuance of Velo Tokens on the Stellar network, the listing of Velo Tokens on major exchanges, the development of the Velo Protocol, and the completion of its first live transactions over our Federated Credit Exchange in December 2020.
Together in the year ahead, as a unified organization, we’ve set out a roadmap to drive greater adoption of the Velo protocol and increase the number of transactions over the Stellar DEX and Velo FCX.
I am excited to lead this effort under the Velo Labs organization and I look forward to building innovative solutions to address the need for fast, low-cost cross-border payments options for billions of people in Southeast Asia and across the globe.
To best tap into this opportunity, I will rely on the capabilities of the combined team along with the support and expertise from our larger ecosystem partners, such as the Stellar Development Foundation, the Lightnet Group, and CP Group and others.
With our combined talents and capabilities, I aspire to lead the way for Velo to transform international payments as meaningfully or likely more meaningfully than we did with Zelle for domestic payments in the United States.
So thank you I’m very excited to take on this new opportunity, and together with this team lead us to great things.