00:00Something that people don't necessarily appreciate is how much is actually happening today in
00:04international finance, you know, firms like JP Morgan. So we have a platform called Onyx Digital
00:08Assets. It's a platform for tokenizing traditional assets like U.S. treasuries, mortgage-backed
00:13securities, etc. We're doing between one to two billion dollars every day of trading of traditional
00:18tokenized assets on this platform. The managed service that we run, so we have a number of
00:22external clients on the platform, Goldman Sachs, DBS, BNP, a number of others who we haven't sort
00:26of been public about. Every participant on the network has their own node. Right now
00:31it's a fully managed service that, you know, JP Morgan effectively manages. But each of
00:35these clients have access to tokenized assets, i.e. tokenized treasuries and tokenized cash,
00:41entering into a repurchase agreement. So the use case and the thing that people want this
00:45specific product for is access to intraday liquidity.
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