CoinDesk
Lazaro Campos, former CEO of Swift, has joined London-based stablecoin yield company OpenTrade as chairman. The firm says it processed more than $1 billion in transactions over the past 12 months and now has $300 million in total value locked, up from more than $200 million in May.
Founded in 2023, OpenTrade provides infrastructure for businesses to offer dollar- and euro-denominated returns backed by real-world assets. The appointment follows a $17 million funding round announced nearly six months ago and brings a former leader of a major global financial network into the company’s boardroom.
Why it matters
OpenTrade is positioning yield as a way for fintechs, exchanges and digital wallets to make stablecoin balances more useful to businesses and customers. Campos said his career in money-movement infrastructure informed his view that stablecoins are a next chapter for payments, with yield helping make them useful.
Swift connects more than 11,000 financial institutions and moves up to $1.5 quadrillion annually. Campos also served on the Bank of England’s RTGS infrastructure and CHAPS board, and currently chairs Payoneer Europe.
Market impact
OpenTrade’s reported TVL has grown from more than $200 million in May to $300 million, while annual transaction volume has exceeded $1 billion. The figures offer a measure of activity as the firm seeks to expand its services for financial companies adopting stablecoins.
The company has raised $32 million to date. Its May round was led by Mercury Fund and Notion Capital, with participation from a16z crypto, AlbionVC and CMCC Global.
Frequently asked questions
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What growth figures did OpenTrade report?
OpenTrade said it processed more than $1 billion in transactions over the past 12 months and has $300 million in TVL, up from more than $200 million in May.
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What does OpenTrade provide to businesses?
OpenTrade provides infrastructure that lets businesses offer dollar- and euro-denominated returns backed by real-world assets, without building their own investment systems.
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What experience does Lazaro Campos bring to OpenTrade?
Campos is the former CEO of Swift, which connects more than 11,000 financial institutions. He has also served on the Bank of England’s RTGS infrastructure and CHAPS board.
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How much funding has OpenTrade raised?
OpenTrade has raised $32 million to date. Its May funding round was led by Mercury Fund and Notion Capital, with participation from a16z crypto, AlbionVC and CMCC Global.
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How does OpenTrade connect stablecoins with yield?
The company’s infrastructure enables fintechs, exchanges and digital wallets to offer dollar- and euro-denominated returns backed by real-world assets.
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