Cryptocurrency payment startup C Labs has hired former United States government official Jai Ramaswamy to oversee the company's compliance strategy. On Nov. 26, Coindesk reported that Ramaswamy had joined C Labs, the company responsible for Celo, which is an open platform that makes financial tools accessible to anyone with a mobile phone.

Ramaswamy's credentialsAlso a former managing vice president at major credit card company Capital One, Ramaswamy will reportedly oversee the company's strategy on global regulations, risk and compliance. Ramaswamy said that he is interested in helping C Labs understand its overall risk profile. His LinkedIn profile further reveals that before being hired by C Labs his previous stint at Capital One, Ramaswamy worked as the global head of anti-money-laundering at the Bank of America.

As Cointelegraph reported in February, Celo hired fellow payment network Circle's Chuck Kimble. Celo secured $30 million for stablecoin-based smartphone payment plansIn April, Celo raised $30 million from well-known crypto investors Polychain Capital and Andreessen Horowitz.