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Wall Street Journal - Financial Briefing Book
Wall Street Journal, 24 November 2010Carlyle Group LLC and Accel Partners bought stakes in OzForex Group, an online foreign-exchange payments platform in Australia, as they seek to tap into the market for online payments and currency trading.
Foreign-exchange trading is one of the biggest markets in the world, with an average of $4 trillion changing hands every day, according to a recent study by the Bank for International Settlements, a gain of 20% from its previous survey in 2007.
OzForex, which specializes in electronic funds transfers for individuals and businesses, plans to use the fresh cash to push into new markets across Asia, North America.
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