Former SWIFT CEO Lazaro Campos Named Chairman of Stablecoin Yield Platform OpenTrade
Summary
- Former SWIFT CEO Lazaro Campos has joined stablecoin yield platform OpenTrade as chairman.
- OpenTrade said it recorded $1 billion in volume and $300 million in total value locked (TVL) over the past 12 months.
- OpenTrade said it raised $17 million in a funding round, bringing its total funding to $32 million.
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Lazaro Campos, the former chief executive officer of global financial messaging network SWIFT, has joined stablecoin yield platform OpenTrade as chairman.
OpenTrade recently appointed Campos as chairman, CoinDesk reported on Oct. 29. The move is aimed at expanding the company’s business as stablecoin adoption grows across traditional finance.
Founded in 2023, OpenTrade provides yield-generating services based on stablecoins. The company said it processed more than $1 billion in volume over the past 12 months, while total value locked reached $300 million.
Campos said stablecoins represent the next stage of infrastructure for moving money globally. Yield-generating features, he added, give companies and users a reason to use stablecoins.
OpenTrade raised $17 million in a funding round led by Mercury Fund and Notion Capital in May. Its total funding stands at $32 million.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul