How have you seen that evolve in terms of the counterparties that you're facing now, the people that you're serving? and the requests that are coming through as a result of maybe the changing dynamic or the changing landscape, I would say, of the maturing landscape over the last three years?

It's a great question, and there's a different answer for each phase within that timeline and the segments within the landscape.

Back in 2022, for example, I think there was a lot of conflation around perceived and actual risk from the failures of different companies over the summer and then toward the end of the year with FTX.

So back then, I think across segments, there was difficulty in even getting a checking account and then the ones that were participating were doing it quietly or some of the ones that were, that were doing it niche as well.

And if, if I think about MSBs specifically, um, over time they've gone from that to, I think really taking a keen look at BSA implications and what they want to do, but really going to banks, um, to ask them to help with what they only can do or what their best position to do.

So if you think about what a bank license permits versus what a FinTech in need of a bank requires, that's a good proxy as well.

A lot of requests around payment capabilities.

Anthony,

And for people listening in, or maybe from your own experience of working with, you know, customers, prospective customers, what is it that maybe holds people back sometimes? You know, why don't they take that leap to working with you and using more kind of crypto adoption within their operations? And, you know, how do you break that down for, I guess, people listening in that might still have reservations?

Yeah, I think...

I think they don't necessarily understand sometimes that we have this dedicated group of, you know, like my team, we're sending each other stuff on X and Telegram.

We're going to these conferences.

We're sending each other the memes.

Like we're one of them.

It just so happens that we're infiltrating from the inside of the bank, you know? So I think once they understand that, and then once again, they see that, We are going to commit to the relationship.

I guess any markets outside of the US that are particularly interesting, like you're just looking at some of the innovations or adoptions or use cases globally and interested in what's going on?