Wall Street Journal “World Bank Takes on Trading With $3 Million Investment”

The investment arm of the World Bank has backed a Wall Street startup working to cut a major risk for banks’ trading desks.The International Finance Corp., a member of the World Bank Group, is investing $3 million into LMRKTS LLC, a New York startup founded in 2012 by ex-traders to help banks to slash their financial exposure to each other, according to the companies.

The World Bank’s IFC often backs startups that it believes can help emerging markets develop their financial systems, including their exchanges, banks, and capital markets. The investment will help introduce LMRKTS, which has worked so far with big U.S. and European banks, to emerging markets’ banks, said Andi Dervishi, global head of fintech investments at IFC.

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