Velo Official Announcement — 6/5/22

Velo Labs, a leader in blockchain-based payments and trading solutions, today announced that Mike Kennedy is resigning as CEO of Velo Labs. Mike joined Velo in March 2021 when Velo acquired Interstellar, where Mike was the CEO.

Mike will be replaced in the interim by Mike Cowans, the Group Chief Revenue Officer of Lightnet, a sister company of Velo Labs. Cowans previously held executive positions at Ciphertrace, Ripple, and IBM.

“I am grateful to have worked alongside a fantastic team, and together build industry leading solutions and technologies that bring financial benefits to millions.” Kennedy said.

Mike Cowans, the new interim CEO of Velo Labs, expressed that “on behalf of Velo Labs and the Board, I want to thank Mike for his leadership, invaluable contributions, and dedication to the company. Since his appointment as CEO of Interstellar in 2019, through taking over the combined Velo-Interstellar organization in 2021 post acquisition by Velo Labs, Mike has led the company through an M&A integration, global expansion, critical product launches, and numerous exchange listings. With the proven success of our technology and our team’s strong execution, there is no doubt that Velo Labs is well positioned for its next phase of growth.”

Velo Labs is undertaking a search for a permanent CEO, while Mike Cowans leads the organization through its next phase of growth.