What do you see as the biggest opportunities if adoption of tokenization and digital assets continues over time?

Yes, I think important to separate cryptocurrencies like Bitcoin and the blockchain projects institutions like ours are most interested in, like tokenization.

So this is not Bitcoin.

This is not cryptocurrency.

you're correct in describing this as plumbing.

It's market plumbing, it's infrastructure plumbing, it's faster, cheaper movement of money On the benefits, I'm going to focus on our clients and the immediate benefits to our clients and not for the asset management firm.

The first is cost savings, driven by lower costs due to operational efficiency.

So before we wrap up, I think it would be helpful for you to talk about how investors should think about tokenization from a broader markets perspective.