Panama-based stablecoin infrastructure company BALBOA | CORP has strengthened its advisory board by appointing former Paxos treasury executive Austin Campbell and fintech entrepreneur Richard Douglas, as it develops payment technology designed for international shipping and trade.
Campbell previously served as Head of Treasury at Paxos, where he managed more than $22 billion in reserves backing stablecoins and played a role in designing Binance USD (BUSD), one of the largest dollar-pegged stablecoins before it was discontinued. Earlier in his career, he held digital asset and trading positions at JPMorgan, Citi and Stone Ridge. Today, Campbell leads consulting firm Zero Knowledge Group, advising banks, asset managers and payments companies on digital asset strategies.
Richard Douglas, who also joins BALBOA | CORP’s advisory board, is a three-time fintech founder with experience in payments, risk management, compliance and financial technology governance. His background includes advising blockchain and payments businesses on regulatory and operational risks.
BALBOA | CORP said the new appointments will help support the development of BALBOA1, its U.S. dollar-backed stablecoin created for business-to-business trade payments. Rather than focusing on consumer crypto transactions, the company aims to use blockchain technology to reduce delays in international settlements between buyers, sellers and shipping companies.
Cross-border trade often relies on multiple banks, payment providers and manual verification processes, which can take several days before funds become available. These delays may increase financing costs and contribute to demurrage fees, i.e. charges paid when cargo remains at ports longer than agreed because documentation or payments have not been completed.
According to BALBOA | CORP, BALBOA1 is designed to provide near real-time settlement while supporting escrow arrangements and trade finance workflows. The company says the stablecoin will operate across Ethereum, TRON and Base blockchains, with each token backed 1:1 by U.S. dollars held with trust or partner banking institutions.
Kevin Conabree, co-founder and CEO of BALBOA | CORP, said the appointments combine expertise from both traditional banking and digital assets, helping the company build infrastructure suitable for institutional trade finance.
Campbell said he believes the platform addresses longstanding payment delays in global trade while offering institutions a programmable digital dollar for commercial use. Douglas added that synchronizing cargo movements with digital payments could help reduce operational costs while supporting regulatory compliance.
The announcement reflects a broader shift in how stablecoins are being used. Initially popular for cryptocurrency trading, stablecoins are increasingly being tested for corporate treasury operations, international settlements and trade finance because they can move funds around the clock without relying on traditional banking hours.
The stablecoin market has grown rapidly over the past two years, with the total circulating supply now exceeding $300 billion, led by Tether’s USDT and Circle’s USDC. Industry analysts increasingly view stablecoins as an emerging payment infrastructure rather than simply crypto assets, with banks, payment companies and governments exploring their role in modernizing cross-border transactions. Meanwhile, institutional adoption continues to expand following regulatory developments such as the U.S. GENIUS Act and Europe’s Markets in Crypto-Assets (MiCA) framework, both of which are expected to provide greater legal clarity for digital dollar payments.
