Bakkt

So that was great.

And then also worked at Bakkt, which is a child company of New York Stock Exchange, where I got to work in traditional payments, fiat currencies, as well as cryptocurrencies and loyalty rewards.

I have eight patents from working at these companies.

And at one point, being an immigrant myself, I went through this pain point of cross-border payments where I was sending money back to my mom and going through this horrendous experience of paying a huge amount of fees, losing an additional 3% to 10% in exchange rate fees.

At the bottom of Tier 2, Warsaw Exchange and Johannesburg Stock Exchange both continue to demonstrate their promotion was merited a quarter or two ago, with the GPW showing a handy return to end quarter three at over a billion dollars in market cap, a great reflection on the management of CEO Tomasz Baczewski.

Meanwhile, in Tier 3, we had Abax Exchange, despite a bruising quarter under attack from a short seller, coming out on top ahead of the mongrel Bakkt, which continues to muddle along without too much of a clear purpose in life.

At $275 million, the next group is covered by a tiny margin, Philippine Stock Exchange just ahead of NZX of New Zealand, Zimbabwe Stock Exchange itself a little ahead of the Nigerian Exchange Group.

Thanks for listening to Exchange Invest Weekly.

You know, the, the, the regulatory clarity was the, the kinda signal that said, "I, I think it's time to come back," right? I think, "Here's a market where we can operate." Um, you know, we did it.

We partnered with Bakkt, right? So we get some institutional grade custodian relationship with them.

We get some, we get our rails.

Um, and you know, by, by having those kind of strong partnerships, by having that regulatory clarity, um, you know, we can come in and freely operate and kind of focus on what we do best, right? Which is, you know, helping generate yield and helping generate lines of credit.

Um, how safe is the credit line, uh, option and, uh, are, are we like exposed to bad debt on the other side? H-How exactly does that work?

So, so no.

So, you know, we, we over-collateralize, uh, those loans, right? We work with instru- institutional-grade partners like Bakkt, right? To, to keep those, uh, tho- those collaterals in place.

So, so no, they're, they're really safe and secure and, um, you know, and readily available.