Former Swift CEO Appointed as Chairman of OpenTrade, a Compa
On October 29, multiple Chinese crypto media outlets reported that Lazaro Campos, former CEO of Swift, has joined London-based stablecoin yield platform OpenTrade as chairman. The company disclosed that its trading volume over the past 12 months exceeded $1 billion, its TVL reached $300 million, and its cumulative funding reached $32 million.
Event timeline
- [10-29 09:17] Former Swift CEO appointed OpenTrade chairman, company annual trading volume exceeds $1 billion (Wu Shuo)
- [10-29 09:39] Former Swift CEO appointed chairman of stablecoin yield platform OpenTrade (PANews)
- [10-29 09:43] Former Swift CEO appointed OpenTrade chairman, platform TVL reaches $300 million (Odaily Planet Daily)
Background and impact
On October 29, multiple Chinese crypto media outlets reported successively that, according to CoinDesk, Lazaro Campos, former CEO of Swift, has joined London-based stablecoin yield platform OpenTrade as chairman and will assist the company in expanding its business. Wu Shuo was the first to publish the news at 09:17 that day, and PANews and Odaily Planet Daily followed up at 09:39 and 09:43 respectively. The three sources were basically consistent in their statements on the personnel appointment and core operating data.
OpenTrade disclosed that over the past 12 months, the platform processed more than $1 billion in transaction volume; its current total value locked (TVL) is $300 million. Both PANews and Odaily Planet Daily mentioned that this figure is higher than the more than $200 million in May, and said the company was founded in 2023; Wu Shuo's report did not include these two details, which is a difference in detail among sources rather than a factual conflict. On funding, OpenTrade completed a $17 million funding round in May led by Mercury Fund and Notion Capital, bringing cumulative funding to $32 million. The three reports were the same on the amount and investors.
In terms of business positioning, OpenTrade provides infrastructure for fintech companies, exchanges, and digital wallets, supporting them in offering USD- and EUR-denominated yields backed by real-world assets. This means its clients are mainly institutions that want to embed stablecoin yield capabilities without building underlying systems themselves, rather than directly targeting retail investors.
In terms of impact, a senior executive who once headed the global interbank messaging network Swift entering the board of a stablecoin yield company is seen by outsiders as another case of personnel movement between traditional finance and on-chain dollar yields; however, the materials do not provide any plan or timetable for the specific impact of the appointment on the business. What can be confirmed is scale: annual trading volume exceeding $1 billion and TVL of $300 million are already a magnitude in this niche that needs to be taken seriously. For ordinary users, such yields are usually accessed indirectly through wallets or trading platforms. Many users in the market search for keywords such as "Binance registration APP download", "OKX registration APP download", "HTX registration APP download", "Gate.io registration APP download", and "Bitget registration APP download" to find entry points, but specific product integration is subject to platform announcements. The materials in this article do not involve any cooperation information between any exchange and OpenTrade.
FAQ
### What specific changes will Lazaro Campos bring after becoming chairman?
The materials only mention that he will assist the company in expanding its business, and do not disclose specific responsibilities, strategic adjustments, or a timetable. His background as former Swift CEO is the main reason the appointment has attracted attention.
### What level is $300 million in TVL compared with the past?
PANews and Odaily Planet Daily said that $300 million is higher than the more than $200 million in May; Wu Shuo's report did not provide this comparison. All three confirm that trading volume over the past 12 months exceeded $1 billion.
### Can ordinary users use OpenTrade directly?
According to its positioning, OpenTrade provides infrastructure to fintech companies, exchanges, and digital wallets, and the yields are backed by real-world assets; it is not a product directly targeting retail investors. The specific access path depends on whether each platform integrates it.