Lucio Biase started his career at in credit at Credit Suisse in 2000, went on to trade EM at Marathon Asset Management and left in 2005 to start his first FinTech, NetDelta. It addressed issues endemic to the Credit Derivative Market. In 2010, he sold the controlling interest to his lead investor. His 2007 patent for pooled credit risk US8781952B1 was a precursor to the distributed ledger. In 2011 he founded LMRKTS: No third party reduced risk by adding trades before LMRKTS introduced the concept to the market and has since become market standard. He left LMRKTS in 2018, it was acquired in late 2021 and it remains the largest reducer of FX Risk and leverage in the world.