Celine, what would you add to that?

I think Lewis has explained really well what tokenized deposits is and how that differ from other digital money products.

What I would add to that is your point about why now.

So why is this becoming more interesting now beyond an experiment? And what we really see is that we're seeing this becoming sort of more mainstream adoption of the products.

And what is really driving that is the fact that we now have clearer regulatory pathways.

Regulators around the globe are engaged into helping drive this adoption in a scalable and a safe manner.

And there are also more institutional players coming together to form that infrastructure readiness to connect the rails for the product to move on.

Celine, final thoughts from you?

So I'm sure the listeners will be interested to know from, from your point of view, what are the key capabilities required to meet this client demand around real time investment? How critical is it to have the ability to connect the digital money leg with tokenized assets? Just give us a sense of what's happening on your side.

side.Yeah, I, I think, um, what Kelvin mentioned just now is the perfect application of digital money needing tokenized assets.

Essentially, what we're saying is when we sleep, let's not have the money sleep.

That's really clever, and I think from a bank's perspective, how to enable that is to enable that, you need to have a tokenized asset that can settle with a tokenized deposit on the blockchain, meet each other so they can do the delivery versus payment.

And that asset can be a liquid instrument, like the example that Kelvin mentioned earlier, being the tokenized money market fund.

But beyond that technology, what's needed, other than just issuing the asset on the, on the blockchain, there's actually also the digital custody of the asset, the wallet and key management infrastructure, which has al- actually already been me-mentioned by Kelvin as well, and sort of the traditional asset servicing for the asset.

Going a little bit deeper into that asset st- and sticking with the examples of the tokenized money market fund, the fund itself ideally should also access on-chain investment instruments for the underlying portfolio to unlock the full benefits.

[laughs]