00:00Anna the latest legacy company here to embrace crypto. Tell us what we need to know here about IBM's move.
00:08So obviously IBM is a very popular vendor with big banks and corporates and governments. So they're launching a platform that will let a big
00:15bank for instance start offering stable coins or other sort of digital assets. And it's important because as I said you know these firms are
00:23already clients of IBM possibly. And so this makes it easier and faster for them to get into the space in which we've seen many of them
00:31sort of rush to get in. And what's the timeline for this. How quickly can they can they roll this out. So the platform they're going to have
00:41the first version which is a software as a service will be available in this fourth quarter and then they're going to do an on prem version. So that
00:48is helps with banks when they need to keep you know data in their own servers. They will launch that they said in the
00:55second quarter of next year. And are they doing this on their own or is IBM partnering with anyone?
01:03No they partner with a crypto wallet technology company called Defense. And it's quite interesting
01:07because we've seen many vendors recently rushing to offer services to big banks. But as you know you know a
01:13big bank that is is highly regulated they'll find it hard to just partner with maybe a smaller startup
01:18because they need to be able to know that you know in four or five years in three years in two years
01:22the startup will be there and that they'll still be able to offer those critical services to clients. So
01:26you know by having you know IBM with their very large stack partner with a with a next domain expert
01:32like Defense they're hoping to be combining the best of two worlds and make it easier for these clients to
01:36you know come to market fast with these offerings.
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