Stellar
XLMInfrastructure · Built in San Francisco, CA · Stellar Development Foundation
Listing suspended on 2026-09-14
Test 1 is not established: the only address the Stellar Development Foundation publishes in its legal documents is a P.O. box (P.O. Box 77105, San Francisco, CA 94107), which is not a physical headquarters. No registry, regulator, or filing record of its principal office was found, and only one current independent source (Global Government Finance, July 2026) describes SDF as based in San Francisco, short of the two needed for corroboration. Delaware non-profit incorporation is evidenced by its Terms of Service. Market data is withheld until verification meets the USCC evidence standard.
The verdict on record
Pathway: US operating company. Needs Tests 1 and 4, plus 2 or 3.
Test 1 · not met
Headquartered in the United States
US headquarters of Stellar Development Foundation is not yet supported by a primary document or two independent sources.
Test 4 · passes on primary documents
Registered in a US state
Stellar Development Foundation is registered in DE.
1 source· 1 primary
- Legal termsstellar.org/terms-of-service2026-09-14
Test 2 · not met
American founding team
0 of 2 named founders are established US persons holding operational roles today; a majority is required.
Test 3 · passes on primary documents
Primary operations in the United States
The Stellar Development Foundation, a Delaware non-profit corporation, operates stellar.org and its services and acts as the network's developing organization.
1 source· 1 primary
- Legal termsstellar.org/terms-of-service2026-09-14
Legal entities
Stellar Development Foundation
Delaware · operating company, foundation · San Francisco, CA
3 sources· 2 primary
- Legal termsstellar.org/terms-of-service2026-09-14
- Legal termsstellar.org/privacy-policy2026-09-14
- Pressglobalgovernmentfinance.com/undp-blockchain-stellar-developme…2026-09-14
Founders
Jed McCaleb
Co-founder; listed on SDF leadership team and board · US status not established · operating role today
2 sources
- Projectstellar.org/foundation/team2026-09-14
- Referenceen.wikipedia.org/wiki/Stellar_(payment_network)2026-09-14
Joyce Kim
Co-founder · US status not established · no operating role today
1 source
- Referenceen.wikipedia.org/wiki/Stellar_(payment_network)2026-09-14
Record history
2026-09-14 · suspended
Suspended: SDF's only published address is a P.O. box, so there is no strong-class evidence of a physical US headquarters (Test 1).
2026-09-14 · review opened
Review opened: only a P.O. box address is published for SDF; physical headquarters evidence needed.
2026-09-14 · correction
Entity corrected from "US 501(c)(3) non-profit" to a Delaware non-profit corporation; SDF states it is not a charity. Unsourced claims removed: the 2014 SEC review, NCC Group audits, the Stripe $3M investor annotation (dead source link) and the IBM World Wire partnership. McCaleb's unsourced "CTO at founding" title replaced; he is currently listed on SDF's leadership team and board.
2026-04-29 · listed
Listed in the v0.1 allowlist.
About Stellar
Stellar is a payments-focused blockchain launched in 2014. It is developed by the Stellar Development Foundation, a Delaware non-profit corporation that says it is not a charity: it is self-funded, pays taxes and has no shareholders.