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Stellar CEO thinks web3 needs to make payments easier like 'email'
“We’ve always focused on the utility," Denelle Dixon said.
Jacquelyn Melinek
May 21, 2024
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Web3 needs to make money “move like email”
As Stellar approaches its 10 year anniversary, so much of the company’s original vision has stayed the same, Denelle Dixon, CEO Stellar Development Foundation said on Talking Tokens podcast. (Listen to the episode on Spotify, Apple Podcasts or YouTube.)
Stellar’s founder Jed McCaleb had a view that “money should move like email,” Dixon said. “It’s so simple and I’ve come back around to that [idea] this year.”
When people share how hard it is to move money in certain continents or country, Dixon points back to how blockchain technology can fix it. “People just need to be comfortable with the tech stack and the tools on top of that to make it happen.”
Instead of doing “big splashy stadium naming rights” or focusing on the new hottest trend in web3, Stellar has remained consistent, Dixon said. “We’ve always focused on the utility because that’s what we believe moves this technology to the mainstream.”
The chain plans to continue its focus on bringing technology to live through mainstream use cases like global and local on-and-off ramps, cross-border payments and every day financial services. As of Q1 2024, Stellar had over 8 million total accounts and a total supply of $533.3 million for real world assets on its network.
Since inception, Stellar has had “13 billion operations” on the network and it’s currently seeing “1 billion operations” per month, Dixon said. “If you look at that, you can see the growth of the ecosystem and the growth of what we’ve built,” she added.
Check out the next section for more details and the full episode.
The latest Talking Tokens podcast 🎙️
For this week’s Tuesday episode, I talked with Denelle Dixon, CEO Stellar Development Foundation.
We dive into Stellar’s 10 year journey, Soroban’s roadmap since launching on mainnet, real world utility for web3-based payments, DeFi and more.
Talking Tokens episodes are released on Spotify and Apple Podcasts at 6AM EST or YouTube at 10AM EST every Tuesday and Thursday. Listen in!
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Monitoring blockchains
Looking at some of the biggest developments onchain.
Optimism’s Superchain saw over 4 million daily transactions during April and May, the team behind the blockchain shared on X
Aptos’ sub-second E2E latency signifies how speed is “paramount” in web3
Sei V2 governance software proposal onchain voting period is live — if it passes, the chain’s mainnet upgrade will be on May 27
Taking on the tokens
The total crypto market cap increased 8.3% in the past 24-hours to $2.62 trillion. It is up 15.4% over a 7-day period.
As for the largest cryptocurrencies by market cap…
Token | Price | 24h % | 7-day % |
|---|---|---|---|
Bitcoin (BTC) | $71,144 | + 6.10% | + 14.95% |
Ethereum (ETH) | $3,769 | + 21.77% | + 29.45% |
BNB (BNB) | $614.59 | + 7.24% | + 4.77% |
Solana (SOL) | $179.68 | + 1.10% | + 22.07% |
These metrics were taken at 8:10 AM EST on Tuesday.
Other numbers we’re eyeing…
75% — that’s the odds of a spot ether ETF approval, up from 25%, according to Bloomberg ETF analysts James Seyffart and Eric Balchunas. “Hearing chatter this afternoon that SEC could be doing a 180 on this,” Balchunas said on X on Monday.
Money and people moves
Latest updates on crypto startups that secured funding and industry players who are starting something new.
Crypto VCs will invest $12B cash horde in blockchain projects this year (DL News)
Grayscale CEO Michael Sonnenshein stepped down after a decade leading the company; firm announces Peter Mintzberg, global head of strategy at Goldman Sachs, as successor
Binance executive denied bail in Nigeria (Blockworks)
DePIN project Blockless raises $8 million in pre-seed and seed funding rounds (The Block)
Talking points for the road
Here’s some headlines and topics that you can talk about at your next dinner party, crypto event or on a first date to look smart (results may vary.)
Cryptocurrencies gain as investors turn optimistic on ether ETFs (Reuters)
New York AG announces $2 billion settlement with crypto lender Genesis (CNBC)
Dolce & Gabbana Metaverse Fashion Offering Leaves Shopper Fuming (Bloomberg)
ICYMI: Senate passes resolution to overturn SAB 121 (Blockworks)
60 crypto firms pitch support for large market structure bill ahead of next week's vote (The Block)
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