IBM's Blockchain Head for Financial Services Exits Company

Jesse Lund, the global head of blockchain for financial services and digital currencies at IBM, has departed the company. Lund's exit comes after he led IBM's World Wire payment network, which aims to address cross-border payment challenges using blockchain technology. Despite Lund's departure, the World Wire partnership with Stellar is expected to continue as planned.

IBM's Global Blockchain Executive Departs Company

Jesse Lund, IBM's former global head of blockchain for financial services and digital currencies, has departed from the company. This was confirmed by an IBM spokesperson in an email statement to CoinDesk:

"I can confirm that Jesse Lund is no longer employed by IBM. IBM's practice is not to discuss the specifics of employee departures."

Prior to joining IBM, Lund held senior positions at Wells Fargo and R3, where he drove blockchain initiatives and partnerships. He played a pivotal role in the development and launch of IBM's World Wire payment network, which utilizes the Stellar blockchain to facilitate cross-border payments.

Under Lund's leadership, World Wire expanded its reach to 72 countries, supporting 48 currencies and establishing 46 "banking endpoints" for financial transactions. The platform has been adopted by several global banks, including RCBC in the Philippines, Banco Bradesco in Brazil, and Bank Busan in South Korea.

Jed McCaleb, co-founder of Stellar, responded to inquiries about the impact of Lund's departure on the Stellar/World Wire partnership:

"No, we are still full steam ahead with World Wire."

Lund's departure marks a shift in IBM's blockchain leadership, but the company has emphasized its continued commitment to the technology. IBM is actively pursuing blockchain-powered solutions in various industries, including healthcare, supply chain management, and energy.

Experts in the blockchain industry believe that Lund's departure will not significantly impact IBM's blockchain strategy, as the company has a robust team and a well-established ecosystem of partners. The future development and adoption of blockchain technologies at IBM remain promising.