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It all comes down to computers communicating. The information superhighway can be a confusing mix of on ramps and off ramps. Bitcoin is worthless artificial gold. Is it still rat poison? Probably rat poison squared. We need to get into the world of OK, this is actually foundational technology. What the Internet of Money does is it creates a single network which can do a microtransaction to a giga transaction. The Internet is going to be one of the major forces for reducing the roller gun. The one thing that's missing? That will. Soon be developed is a reliable E cash. Thanks everybody for joining the most recent episode of Final Settlement. It was a great talk just going over everything in the market today as well as we had a special guest, Gustavo Flores of Oreo. We discussed a number of different things, including everything from Latin American Bitcoin adoption, how we think everything will play out, and then gave some updates around his business. There are some really exciting new announcements coming from early riders this entire week, so please stay tuned and subscribe to all of our research. We're really doing a lot there at earlyriders.com/research. And please feel free to reach out to myself directly at liam@earlyriders.com if any of this sounds interesting to you. Not on to the rest of the show. All righty, gentlemen. Welcome back to another episode of Final SETTLEMENT. Today is Monday, October 20th, 10:17 AM Eastern Time. I'm joined as always by Michael Tanguma, Liam Nelson and special guest today, Gustavo Flores, CEO of Arrayo. Some exciting announcements and news related to Gustavo's business coming later in the show, but lots of news and, and, and headlines to get to. We've got a long list. So going to kick things off here, talking a little bit about some developments going on really in, in this broader trend that we've been talking about for several weeks and months of both institutional allocators and also sovereigns getting interested in sort of the broader crypto space, but Bitcoin specifically and productizing these markets. So the first link I'm I'm bringing up here is some news from the UK that 21 shares Bitwise and Wisdom Tree will open UK retail access to Bitcoin and Ethereum Etps through FCA approval. I forget who brought this link, but any any thoughts on this one gentlemen? Yeah, I think it's a huge deal. I think BlackRock is also a part of that. I think UK obviously huge market. And then there was a whole slew of news from last week. We'll talk about globally that came to on inflows or on ramps across the board in the UK naturally being pretty antagonistic to digital assets. And there's there was the the notion that retail investors couldn't get exposure to spot Bitcoin, and that's where they ended up in dats and all these inferior products or how to go to MSTR. We'll increasingly, you know, month over month start to make less and less sense. The reality is these markets, the local financial service partners that run them, the local custodian requirements that the regulators will require will all be incentivized to have the assets closest to the client. And so you can expect this to transpire across the world. And so I think it's just a natural evolution of where the market's going, where you're going to have local financial services offering Bitcoin rails. Yep, and the banks just are all these asset managers who are providing the ETP saw how much money can be made in the US and what the demand looks like for them. So even if the government isn't necessarily super open to it, they're going to spend the time, money and resources lobbying them in order to educate them that, you know, people actually want this and they can make money off that. So it's just, you know, a no brainer that this is going to continue not just in the UK but all across the world. Yeah, there. There's a capital flight component as well. When you think about in the US first mover having all this money come in to the ecosystem and we can pull that up as well. We're Japan. It's not fully read in that they're approving this, but Japan's now discussing allowing banks to buy and sell crypto. And again, this just ties back to incentives. You don't want your capital, whether it's your local Fiat or, you know, hard asset like a Bitcoin or gold leaving your shores. And then ultimately you want those within your borders and you want to be able to offer financial services and products around that. And so I just expect to see this more and more where and this kind of makes sense when you go back to old school banking. We lost sight of it just given the way the world's been digitized. But there's a reason where every corner you generally drive down in the US city or town, there's a bank at the corner because that's just how relationships and banking work. And so it kind of, you can see this play out over the past 15 years where you had to go or you know, 13 years ago to Mount Gox and then Mount Gox went to San Francisco and now you can go on each coast. Naturally, you can, you know, Texas has a few Bitcoin firms. You just start to get a more localized driven relationship with your banking partner. And so this is makes a lot of sense. Yep. And there was also a second headline out of Japan, I think more so related to stable coins. But this is just again, part of this broader trend of, you know, I think a lot of this is interesting as it relates to Japan because they've been historically sort of cautious or even antagonistic against the broader crypto space. But I think as people recognize, you know, I think the the signpost of BlackRock just having such success with the Bitcoin ETFI think did send some shock waves around the world, particularly to potential issuers like stratify incumbents around the actual opportunity around a lot of these things. And you know, as we know, they're going to take that in all the different directions outside of Bitcoin, whether it's stable coins or real world assets, the tokenization of, of everything and anything. But the broader construct is that they are, they are now open and willing to engage with this stuff because they see the monetary incentive of, of building products like this. That's sort of the take away for me is, is the incentives associated with, well, if we can make money from this, then let's let's issue everything under the sun here because there's, there's a real opportunity for us to to make money here. Yeah, I'd agree. But this this article in particular is talking about MFG, SMBC and Mizuho trying to issue yen and dollar peg stable coins. We've talked about this in the past before, but I do think this will end up more so like the BRICS type currency where there are a ton of different people with different incentives who are behind the asset and they won't. Just having different priorities at different times will probably make the like yen backed or dollar backed stable coin less successful than it would have been otherwise. Just because people are going to or the different banks will have disagreements on where they should prioritize this. And essentially having a committee of experts will necessarily slow you down. Especially with new product launches, while they have the distribution, it's going to be challenging in order to to scale this as much as they would like is kind of my base case. Yeah. Yeah. I guess I might be curious on your thoughts there and specifically what you've seen in Latin America, because I, I was initially pretty bearish on local Fiat stable coins. And now I'm a little less in the sense of like, obviously they all lose value and lose value relative the dollar, which loses value relative to gold or Bitcoin. But the, the reality is, and something we've just learned, you know, from building is the things that we understand versus the market or, you know, football field wide when it comes to even understanding a stable coin, let alone, you know, Bitcoin. And so that reality will exist. And then what Liam was saying, referencing the amount of bureaucracy. I I believe that to be true, obviously, but then the reality is all of these banks will overtime naturally need to be built out because of the way the system's set up. And so you can see how it's very similar with back during COVID. It's like how we're going to get dollars into, you know, citizens pockets. And then they figured it out whether it was Cash App to start and now we have stable coins and we talked about picks before we started recording. So just curious how you see that playing out, if you think they'll be that much bureaucracy or market forces will require them to basically vertically integrate or streamline that process from central banks to Fiat stablecoins for the local market? Yeah, totally. I mean, First off, there was, there's been a lot of pushback from governments in the region as it has been the case everywhere, less so now since probably the the Trump White House started. They just kind of have to adapt to new reality. I think the UK and Japan's news is kind of related to that too. But, and there's been definitely this year has been the year of the, of the local stable coin narrative in Latin America. A lot of projects in Mexico are doing that for, for multiple reasons, right? 1 is to be able to some, some have ideas to just move the economy towards a stable coin economy in order to to bypass some financial regulations. You know, let's say you pay your, your, your, your employees in stable coins, then you can bypass many, many regulations in Mexico. But, but it's, it's still an ongoing dance where like they, they pull and they push on this direction. You know, it's still, it's still hasn't fully settled at least in Mexico and Colombia. I know Brazil is definitely way ahead everyone else. So I, I think they're the first developments we're going to see and on this topic are going to come from Brazil specifically and Mexico and Colombia will just have no choice but to adapt to this new reality in, in, in maybe some a couple extra months or a couple extra years. Yeah. I mean, we've seen, was it last week, all the the inflows from Argentina and U.S. dollars that you can see over time, you just create the spigot, one of those like swap lines that existed where it becomes the incentive to streamline that and those flows will naturally turn into stable coins for treasury demand. So yeah, it feels like there's a lot of market forces that will be independent of like the demand. It'll be interesting to watch. Yeah. It's interesting you brought up Brazil, Gustavo, because another link that you'd shared related to Brazil was and, and I didn't even realize this, but I guess that there was some efforts around a Bitcoin reserve project in Brazil that now I guess apparently has been scrapped. Any other color on, on, on this one? Just in the sense of, you know, all of these countries now thinking about stable coins, Are they being distracted by the stable coin narratives and should they really just be focusing on on Bitcoin? I guess would be they're. Definitely distracted by the they're definitely, excuse me, they're definitely distracted by the Stableco narrative. I I think the Brazil case is, is particularly interesting because they've been quite bullish on Bitcoin so far. And that's surprising for particularly like left wing regime as as we have in in Brazil. But yeah, the stablecoin it's, it's, it's part of a bigger push from the fintech ecosystem too. You know, like everybody wants to issue their their stablecoin, all these big billion dollar fintechs once, once to get on board on that, right. So to allow themselves I, I think the, the, the fintechs and you have, you have in incentives from the fintech ecosystem, from the crypto ecosystem and from the government to push the stable coin narrative and to slow down the, the Bitcoin one. But it's, it's simply temporary, right? You, you know that once the, the Chohan horse has entered, there's, there's no going back. So I think we'll just see more and more of this pull and push type of flow, you know, mechanism and but ultimately we're we're just going in the in the good direction here. Yeah. There's a few other headlines I wanted to go to. There was the Coinbase News making an investment in Coin DCX. Liam, you had thoughts on this one? Well, this one's interesting for a number of different reasons. Coin DCX is an Indian slash Middle Eastern based exchange. They're actually a little bit larger than I thought. They have almost 150 million in revenue and over a billion dollars in their platform. They, I think the coin base just wants access to growing markets and that's why they made investments in the firm. I think that the they didn't actually specify what the investment is, but yeah, it's just the coins going to proliferate everywhere. And so it's only natural that you want to have your brand and access to financial services to proliferate everywhere as well. And offering a partnership with local based exchanges is an interesting way to do that. I think that they probably did this because I would assume they got a deal and there was because coin DCX, I think they lost $44 million earlier this year. They had the famous proof of reserves and then, you know, the next day they lost $44,000,000 because there was a hack of a hot wallet on the exchange. And so they probably are looking for somebody who can come in and make an investment in the firm because they probably had some holes. They said that they were able to close it by their balance sheet, but that doesn't necessarily mean like they could have taken on an additional loan in order to be able to close it with their own balance sheet. So I think that this is just interesting to see. I don't necessarily know know quite as much to know exactly why they do this other than just the fact that they probably were able to to get a really good deal. And it's a growing market. And eventually, just as we talked about earlier, like Bitcoin is just a better form of money. And so it's going to proliferate into all of these different corners of the world. And even though India has been a little bit more, you know, combative against digital assets and Bitcoin in particular, it seems like they're shifting that narrative a little bit like we talked about in the past. And so it just makes sense from both the timing and probably valuation perspective from Coinbase. Yeah, this one's super curious based on everything you said, but does add to the color around the losses, especially with a firm that you would imagine if they have a proof of reserves, it ties back to another notion of proof of reserves or a fallacy inherently because just because you can prove the reserves, the single custodians doing that the next day they're lost. What was the point? But the notion of if they're conservative by showing that and they weren't re hypothecating or do anything else, they don't necessarily have the same type of revenue profile of other companies like a Binance or, you know, different kind of trading platforms where they can't make up that hole. And so to Liam's point, they could have been really impaired and there's a number of other angles. Probably one of the most interesting outside of a deal is the Indian markets. My understanding while they're very, you know, antagonistic or have put certain, I think I don't know if it was India last week, it was the UK for sure was going after 50,000. I think it was the UK and India in the past two weeks have said they're going after like tax evasion for cryptocurrencies. Point being, it is it's very insular in who's running these markets and then the regulators that are deeming them OK. And so if Coinbase is able to effectively buy their way into that market, it is the second, I believe largest, you know, continent in the world, 1.2 billion people. And so and then obviously the gold profile makes it a lot of sense that those citizens, they're one step removed from understanding Bitcoin, but it's still interesting Coinbase to get exposure into Asia Pacific effectively. And what does that look like in this coin? DCX run independent with their own brand or do they take on the Coinbase brand TBD? But yeah, I think it's it's a super interesting deal, someone that I didn't expect to. See in the markets. Do you already own Bitcoin on the balance sheet of your company or are you looking to get buy in? To adopt Bitcoin on the balance sheet, get in touch with us here at onramp. You can see here we just published a case study. You can find it on our website onrampbitcoin.com/products/business linked below. We helped Occam's Advisory go from no Bitcoin strategy to board approval and a live treasury in 30 days. So if you are a business and you are looking to either secure your existing Bitcoin held on balance sheet or you want to adopt A strategy that new, we're here to help. We can help with multi institution custody, Lloyd's of London insurance role based access controls and making sure that you have a secure plan for your Bitcoin now and to the future. So again, get in touch with us on rampant business just launched. We'd love to speak with you. Book a consultation on our website. Yeah, few other to just run through here. I think we alluded to this one, but another Black Rock headline to launch Genius compliant money market fund tailored for stable coin issuers. And then there was another stable coin related headline, Stripe stablecoin unit Bridge which they acquired months ago applies for a National Bank trust charter. Any thoughts on on either of these stablecoin announcements? The money market one, just calling out, I think it's, it's fascinating because we're just going to see the blending of stables and money markets in the movement and it's all going to get obfuscated in the background. Whether it's the rewards that people talk about to get more competitive on launching stable coins or the money market funds where you can deposit and effectively deposit stable coins in there to get around it. I think we see portfolio companies as well as external companies start to integrate. The, the one that was interesting, we didn't talk much about it. It's actually really interesting value prop minus who the CEO is of Galaxy 1, really interesting value prop around integration of equities next to crypto or Bitcoin, but then two different style cash or checking and savings account. So the checking account does a 4% interest rate pass through and it's using something similar to this. And then they have like the 8 to 9%, which is for accredited investors that go into the Bitcoin back lending product that they offer. And so point being is, I think you're just going to see more and more of this in Tri Fi launching crypto related services along with more incentives to pass capital or yield back to the user. And then digital asset firms also integrating more of the Tri Fi setup. And, and I think at the end of the day, it really all comes back down to Bitcoin though, and who offers the best Bitcoin financial services, meaning from custody to execution to client services and understanding because it if we believe that whether it's stable coins, private equity, public equities. In any other investment class, all are going to net settle and be denominated, but also benchmarked against Bitcoin. Well, then that's the logical progression. And it's fascinating because we'll talk about this with Gustavo, but that's the exact opposite. Everyone that we talked about here is focused on. They're all talking about the old world and how do they digitize it versus like what's this new base currency, Bitcoin and potentially gold. So yeah. Yeah, I'd add that it seems like everybody from the Bill Gurley's of the world, we can talk about the tempo race and a little bit too just $500 million before they have a product on mainnet, which is seems pretty high for their new blockchain in order for people to issue stable coins. But it's just everybody in the, you know, traditional venture world and is looking at this asset class as a way to kind of graft on what they've been looking for in the past, which is massive amounts of network effects as well as reduced fees. And I think that they've just been really turned off by the amount of scams in, you know, the product crypto space and just the the volatility of the tokens, which don't necessarily have sound fundamentals of underlying price to earnings ratios and everything that we see with ETH. And they can't quite wrap their head around Bitcoin yet just for whatever reason. So it's interesting to see that they're going to come into assets like this and they're going to try to professionalize them as much as possible. And they're just to, to your point, Michael, earlier too, they're going to proliferate this around the world because all of the countries outside of the US really need, you know, just better forms of money as well as, and the fact that the US needs all of them to, you know, have the dollar as well, because the stable coin issuers are going to be the one to actually buy the Treasury as we get more and more, you know, down the rabbit holes, debt and deficits. But I think that this is just a good way to see more people come into the space because they're not necessarily trying to scam people and pump their own tokens. It's it probably comes from a place of actually trying to understand, you know, why what's wrong with the payment network networks today and how can we reduce those costs? But naturally they're just going to all understand that, you know, Bitcoin can do many of what these things do at a better way of just securing your value and as well as just the different layers, we'll be able to share this value just as quickly as any of these other stable coins and and block chains that they're trying to develop. Yeah, the there's two aspects. I don't think, I think the strategic people know this, the amount of disintermediation this is going to do to local Fiat currencies, I'll come back to that because of Gusto. I'm curious on your thoughts or the other one though, is good money throwing away good money for bad or bad money for good? I know River was the one that I believe first did this where you could park your checking account via lead bank and then sweep those excess yield into Bitcoin. That's part of Galaxy 1's deal as you can basically auto convert that yield into Bitcoin or that, yeah, additional dollars, which I think is interesting for people that first want their exposure or if they're going to, you know, naturally have dollar liabilities, you have a cash account. So I think these things will naturally proliferate, which is just a better experience. But going back to the first point, Gustavo, I'm curious like how do you see that with stable coins and Bitcoin just disintermediating a lot of like local sovereign structures? Because I've talked to. Individuals in Latin America where certain countries have like 24% interest rates just to get dollars working capital for just a regular business. And so a lot of entrepreneurs that understand Bitcoin are starting to look at like, how do you bring Bitcoin into there? Whether it's lending their own Bitcoin capital to get dollars to lend back to businesses, which obviously has execution risk, or eventually when businesses hold some form of Bitcoin in their corporate treasury, that's a lot easier way to effectively get, you know, even if it's 8 to 12%, it's still much better than 24%. And you don't need local rails especially as well becomes dollarized. Just curious if you have any thoughts there what you're seeing. Yeah, No, you, you couldn't be more right on this MIC. Like I think in, in Mexico alone, the just the central Bank rate is, is about 9%. So business loans start at 20 minimum. And, and Mexico's is, is a stable country in comparison with like Venezuela, Argentina and Bolivia, where, where government rates have started at 80%, you know, so, so yeah, for sure the, the, the credit market is, is, is definitely having a, a big impact here. And it's going to have more and more, I think MIC multi institutional, multi institutional custody is, is required to have a, a secure way to to offer these build these credit markets on top of Bitcoin. And but, but yeah, definitely I think the most interesting case has been probably Bolivia were in the past year, stablecoins and Bitcoins have completely replaced the the country's financial system. Like even in the airport of the main city in Bolivia of the capital prices are now in USD T, you know, so it's just been a complete replacement of their financial system with with stablecoins and Bitcoin, which what what had been seen previously in Venezuela and Argentina has now taken full shape in, in Bolivia. So yeah, definitely something with big interest. Just hear a big narrative that's boiling up. We're going to hear a lot of that more soon. Yeah. And continuing along the the path of of Latin America and and adoption there, there was another headline around new bank, new bank applies for U.S. National bank charter. Gustavo, any, any thoughts on this one? Maybe you know, provide some context around new bank and and what this means. Yeah, Nubank is Brazil's biggest Fintech application and at this point, I think just biggest financial platform in in Brazil. It's also extremely popular in Mexico and in Colombia, I think at least 10% of Mexicans, Colombians, Argentinians have new bank in Brazil has to be more than than 25. So it's it's also a publicly traded company and it's been on the space for for a while, right. So it's it's jumping on on, on crypto. It jumped on on on crypto a couple years ago. Now they, they seem to have a more Bitcoin focused strategy with their latest hire, which maybe Michael, you can, you can add more context on that. But does this just natural evolution for them? And I think this was also this I'm speculating here, but I believe the Trump's White House has, has invited Nubank and other Latin American companies to come to the US. You know, we're, we're now open for business. Come build here too. I know that the CEO of Bizzo, which is the, the big like the Coinbase of Latin America, he was invited to the White House. So obviously Nubank would would have been too right. So this doesn't surprise me much and I think we'll see a lot more of this. Michael, anything on this one? Yeah, Nubank is incredibly fascinating. I think they're the largest, like fintech out after like anyone that would be in China. They've succeeded on a number of things. One is in Latin America, I think it's close to 650 million users or potential users. I think they have roughly 90 million of them, which is already crazy. But there is an aspect that doesn't really get discussed and, and Gustavo referenced it. So it's my understanding that from a leadership perspective, specifically the CEO, he's a, he gets Bitcoin very deeply. And there's a lot of moves that they've done to signal that from being very early and getting involved with digital assets in Bitcoin to most recently, I think it was last week of the week before they brought on Michael Riani, who was formerly at Cash App and Square and then was leading Coinbase. I think his title was like head of Bitcoin or something related directly to Bitcoin and he joined. And that bank charter's fascinating to see the examples of whether it's we talked a little bit about this in Brazil, they pioneered something called the Pix, Pix network, which was just better integrations with the central bank to be able to deliver payment rails and capital flows. And so whether it's how they leverage that in the US given their scale and best practices all the way to when you think about remittances from the US to Latin America and vertically integrating that, leveraging crypto to do it. I think that's a huge thing that gets under discussed because we'll talk a little bit about the all the names are kind of start to merge together, but it's Spark launched. I forgot whatever. We'll we'll we'll reference the exact name of it. But the point being is that for years there's been a lot of crypto natives talking about payments and rails, but it's not necessarily that the the tech isn't there, it's that the distribution and consumer commercial behavior isn't there or hasn't been there. And so when you get somebody like Nubank with their total addressable market, and then also in a crypto friendly environment where they can get a a license, like every bank got it in like 6 weeks or whatever the time was, it starts to get really interesting on what is a digital application look like to manage one's wealth. So I think this is something very fascinating to pay attention to. And obviously Nubank is a huge giant after the major visas amexes of the world, I think their valuations closer to like $40 billion. Yeah. I would also add the one other thing too is just with them trying to get the OCC charter and we've seen a ton of different crypto firms now also try to branch out and try to get National Bank charters here in the US And I think Bridge just filed for that as well. We're just seeing a professionalization and a checking of the boxes of what all of the traditional financial players really want, right? And we've also seen on the other side, a, you know, more Bitcoin native side of what really Bitcoiners want, especially in the early days. But I think that there is still a gap out there of kind of bridging those two of deep Bitcoin understanding and offering the best products and services like a multi institution custody globally to, you know, not just adding on, you know, OCC charter on top of proof of reserves or something like that. And then saying, OK, we, we did it and satisfied all of the, you know, requirements and, and this is, you know, mission success. So I would say like that's still a big opportunity out there. But it just signals that because they're doing all of this with National Bank charters and OCC requirements, they are seeing a lot of interest for customers, or at least institutional customers, or at least like trying to court them pretty heavily. Yeah, that's well said. All right. We maybe just one more headline as it relates to sort of what we've been talking about here and you know, we've been focused sort of internationally, but back domestically in the US city targets 2026 launch for crypto custody service. There was another headline also related to Charles Schwab, very similar that they're going to launch, you know, the ability to trade and and custody digital assets in 2026, which I think that's actually the most interesting part about these couple headlines is just the, the longer sort of cycle for these things to play out, which may elongate the proverbial Bitcoin cycle. If you know, a lot of these things are getting turned on the plumbing, the access in 2026, that sort of flies in the face of what you know, people historically think about Bitcoin cycles and you know, the timing of such. So it's just interesting to see this play out because I think there will be all of this latent demand that continues to get unlocked, whether it's through ETFSCTPS, all these different products that are, you know, set to be launched next year. I I think that's just an interesting dynamic sort of juxtapose against historical cycle timing. Yeah. Well, maybe this will go to the transition. I think it's a great point, something we've been talking about, You know, whether it's public news or private news, everyone in this industry talks with individuals that are turning things on for mass market adoption. And so that effectively doesn't get priced in. And then this cycle, regardless, there's no shortage of ways to look at it from the price and the unlock from people selling to the demand that's come from these other pockets specifically like ETFs. City and Schwab as an example, are huge players to get in, came out the week before Vanguard, you know, naturally looking at letting their clients get exposure. I think this ties into what we brought Gustavo on to talk about. And but before that, I think this will tie into it. There's an I don't, I haven't fully figured out how to express this. We talk about it a lot where the market is still so early, there's only so many sophisticated players in it. And now what I mean players, I mean individuals. And the reason why is because very few people on the planet earth treat Bitcoin as money, like treated as money, treated as a savings technology. And because of that, we still, and there's there's a chicken or egg problem of like how can you treat it as money or savings technology if you don't have a good form of custody and good partners and financial services. And this is fundamentally the reason why majority of bitcoins sits in self custody on effectively ledgers. And I know that sounds crazy, but it's just empirically true. Ledger is the vast majority of market share from Harvard wallets and the vast majority of Bitcoins sits in those hardware wallets because you had to sever the Internet connection if you didn't want to get rugged by Celsius, blocked by Genesis, FTX, blah, blah, blah. So if you go down that progression, there's still such a small cohort that have exposure. And so whether it's new bank, Charles Schwab, Citi or whoever else, the first step like everyone is not to go 1025 fifty 100% as a savings technology. It's just dabbling. It's dabbling either in crypto or in Bitcoin. And and so that leaves a huge opportunity because today on ramp, our portfolio companies, we treat the most sophisticated investors because they've naturally had to go through what we've learned. And they come out the other side realizing, oh God, like I value on chain, I value segregation of custody and cold storage, but I also value my life and I value the fact that I need access to financial services and I need my wife to be able to inherit this if I get hit by a bus. And so that's what we build for and invest in. And so maybe that's kind of like a dovetail to explaining why, you know, we're really excited about this opportunity. And I don't know, Brian, do you want me to share or do you should be like Gustavo? How do you how do you want to run the? Maybe, maybe you'd tee it up Michael, and then hand it to Gustavo to give more on his background and how it came to be. OK. So super excited about this. Gustavo and I have known each other for a few years now since he had been running Verify, which was acquired by Bull Bitcoin. And then for the past couple years he's been working on Swapito, which is a Latin American on ramp for Bitcoin. And Swapito was gaining traction looking for, you know, investment to really start to scale that business. And we started discussing maybe close to a year ago a little less about an opportunity to participate, but part of our mandate. And really what we look at our thesis is the best in class businesses in the future state, whether it's 2 to 5 to 10 years, will be built on multi institution custody for a number of reasons from Better Business economics, unit economics, all the way to better client experience so that they can buy larger amounts and hold it. And then just ultimately a better lifetime value with the client being able to custody those assets. And then as the market grows and Bitcoin financializes, to be able to offer financial services and not have that leakage. It's not to say that clients can't take self custody in the same way with on rim. And so when we met with Gustavo, we had brought up, you know, we'd love to invest and get involved, but multi institution, we feel like we'd have to play a huge part if we were going to invest because we thought Latin American best in class business would be built on it. And it was us being transparent. And but I and so we end up investing. But maybe Gustavo, after you tell your story, I'd love to hear if you can hear the, the anecdote, because I shared a lot where you went to your brain trust to present the idea because I think you thought it was interesting, but you still needed to validate it. And I think that really speaks to the the opportunity set that the folks you talked to had a certain insider lens into what we're building here. Certainly. Thank you so much, Michael for, for that introduction. So well, I, I've been in the Bitcoin space now for, for seven years. I am Peruvian, but I grew up in Montreal, Canada and I've been living in Mexico now for the past four years. Audio's my well swapito and now name as Audio is my third company. I had a first mining project that didn't go so well, was very inexperienced. Then they verify that was more successful. We, we had platform where you could buy, sell Bitcoin in in Canada and then it was Aqui out. We got Aqui hired by bull bitcoins. We all went to work there. I've worked at Wasabi and now I'm also a writer at Bitcoin Optech, which is a technical newsletter and I launched Schwapito over the past year as a solution that I needed for myself. I live on the Bitcoin Center for multiple years. Maybe that's a bit unusual, but for me it's, it's, it's been a, a great experience. And so I built Swapito as a ways that I could just live on Bitcoin easily in Mexico and I could pay people with like bank transfers, but I only had my lightning wallet. But it it had obviously a, a certain limit, right in, in terms of of of adoption, because like in Mexico, the, the first step is to actually get people to buy Bitcoin, which just hasn't been, but been the case in anywhere, but here even less so. Yeah, I think audio was born from that reception from the market, but it was then also it also came to life with conversations from all with all of you guys. I think multi institution custody is, is the only acceptable form of custody for, for self custody maximalist as I am, You know, I've been, I've been advising and helping people with, with self custody for, from, for almost a decade now. And, and I knew that though the, the there's been a lot of friction on the self custody experience and I wanted to provide a custodial experience, although I didn't feel extremely comfortable with, with the traditional custodial exchange single point of failure infrastructures, right? But I think multi institutional custody resonated with me for, for that reason. But also, as you mentioned, Michael, when I brought this idea to friends, clients in the region, in Mexico specifically, there's been great reception, you know, because first of all, because the region it has like specific security issues. That are just not part of an Americans or an Europeans lifestyle, you know hear people get kidnapped extorted very often you know and everybody's always very concerned about security. So as, as soon as I mentioned this to to many Mexican friends that both Bitcoiners and and non bitcoiners, this immediately resonated. So, so I guess I was looking for for for differentiator. I was looking for a custody model that made a self custody proponent like myself comfortable and be able to sleep at night. So it just makes total sense to to do this right. So thank you, Michael, Liam and Brian. I'm very excited to, to start this new journey. I think we're, we're going to be very successful in our market. We have everything we need to succeed. I've reunited the old verified team under Audio 2. Nate Kits is joining us as a fractional CTO. He works at Zaprite. Tristan Borges is joining us from Bitcoin. Well, he was head of design and he's joining us as CPO. And finally, Magic Sepnick, who was head of social media at Bid Refill, is joining us as CMO. So I'm very excited to to follow the next steps and thank you so much for for bringing me on on the show. Yeah, we're we're incredibly excited. I think as we talked about, I think it gets widely misunderstood and emphasize that Bitcoin is money and money requires financial services, but those are ultimately localized. And so you will not only need local presences, but then local custody in that market. And so this plays a huge part into the long term vision of building out on ramps and keys in different markets across the world. But then also a testament to you guys really being veterans in the Bitcoin space, but then also in the business building space, because something that we really tout and where the venture fund comes from and why we get early stage and also early riders in the name. Is that really the understanding of unit economics and building the right business from the ground up at the earliest stage is paramount. Because if you go too far without that, you kind of lose the the right foundation from business building. And this is something that you guys really talked about and embodied where just the understanding of trying to build the best company, the best economics to build a sustainable business with being very conservative and lean is something that really excited to see. I think we're getting more and more of that as people realize that all these deflationary tools and is like we usually talk about SAS and AI, but the thing that doesn't even get discussed a lot and maybe we can talk about later and you can share Gustavo is thinking about the amount of rails that come in from a liquidity perspective from local fiats, whether it's Latin America or US into BTC in the infrastructure was just not there before. So if you wanted to go get those licenses, you wanted to get onboarded would cost millions of dollars in time. And then even building out your own custody would have to cost millions of dollars in time. And it ultimately all looks the same versus being able to plug into something like multi institution offer differentiated service. So really excited about it. I'm sure Liam and and Brian also have some thoughts to share. No, I think that's very well said. I think it's also really exciting. You know, the team is is great and have enjoyed working with you guys thus far and love your background. If you know, both being very technically, technically strong across, you know, everything that you're doing on, on the Bitcoin Optec side and, and Nate's great as well, as well as the rest of your team. And, and just would also mention it's, it's an exciting time for distributed keys as well. Just having them globally across the world in, in areas where, you know, people have concerns about, you know, local confiscation risk, such as areas in Latin America and, and others. They you just want the fact that while, while you can have localized, you know, key signers and custodians in in different jurisdictions, it's also interesting in a really big value proposition to have, you know, the actual, the rest of the custodians distributed across the world in order to mitigate against local risks as well. But yeah, couldn't be more excited to announce this. And and Tabio is part of the team Gustavo. Yeah, the echo all that super exciting and you know, you can start to see, you know, if you squint the the sort of what Liam was alluding to around this network of keys around the world. And the adoption of this standard, I think is super critical and something that Gustavo picked up on super early in our discussions of, you know, effectively at the end of the day, like more custodians is better than one in some sense of if you can eliminate that single point of failure and distribute that counterparty risk, that's naturally advantageous to long term security. And you know, part of the story here too is, you know, a buy and sell exchange is interesting. But again, I think you know, what is often lost is the core value prop of Bitcoin today as we sit here is, is value preservation and storage. And so the ability to actually have a venue where not only can you buy and sell, but you can actually store those assets for the long term and access financial services is going to be really critical over this next, you know, call it decade to two decade, decade period, where people are saving in, in hard money, Bitcoin predominantly, and spending their dollars, whether it's stable coins or, or other forms of Fiat. That is, is, is sort of going to be the, the main method of, you know, financial services going forward. And, and the ability to have that distribution of risk while still having localized services is really what this is getting at. And so super excited to have this announced and out there. Go ahead, Mike. Yeah, Yeah. I think it's a great recap and I think something that is a a very large blind spot in this ecosystem, specifically Bitcoin only businesses building. The best example, it's not apples to apples, but is when I think about Uber and when they were out raising, a lot of VCs or people involved really passed because they looked at the total addressable market for cabs and they either saw that as a total addressable market or only Uber as a very high profile, high net worth product. And the thing that they discounted was the gaps in the market around just transportation in general. When you can offer a better experience. Well, that looks like 10 to 100 X market adoption or need. And I think of Bitcoin and Bitcoin custody as a very similar example where it's a blind spot in these Bitcoin only firms that just tell like everyone, they have to self custody and they don't offer either any custody offering or any differentiated because that'll always exist. If you're building the right business, everyone should have the option. But the thing that they discount is when a net new person buys Bitcoin and experiences, whether building previously or also just seen it first hand, somebody that you know, let's call an investor in a Bitcoin only company, you know, tells a friend you should go buy some Bitcoin and they go and buy anywhere between 100K to $1,000,000 and they take it and they put it in a Ledger or hard or hardware device. That's historically how it's worked. And most people say, well, that sounds great, I made some money. But the reality is that person, if they're worth 100, they're generally worth about $100 million because nobody parks $1,000,000 in BTC on their first clip based on somebody saying unless they have a lot of extra capital. And what you're ultimately saying is A, you don't have any exposure to that underlying. B, you probably could have over time, if not there gotten larger clip of revenue fees and trading if you would have had a better experience. And then C, ultimately, there's only 21 million of these Bitcoin until you naturally want to be as close and provide as much value because that will ultimately be the leaders in the world. That's our thesis is that if you can provide services around that as Bitcoin monetizing, you'll have no shortage of ways to be able to generate revenue because it'll be a capital base for the new world. And so these are things that we've just seen as gaps. And while we still work with partners and are integrating other custodians, we also think ground up businesses will ultimately be able to leapfrog a lot of companies. And that's probably the most exciting thing for me because I don't think of audio as having a competitor in Latin America in the same way, I don't think we really have any competitors in the US. And if we do, it's BlackRock and infidelity because they have these 100 year old or Fidelity has 100 year old brand that you have to compete with, but nobody else does multi institution custody. Everyone else tells you you have to go parking a Ledger device. You have to go create a wallet config file and separate across the world or across your state and you have to bury it. And you have to worry about inheritance. You have to worry about title versus possession. Oh, and by the way, if the asset appreciates, you have to worry about somebody kidnapping your family. And then, oh, by the way, you also have to worry about if you need to sell it or take a loan out, you have to go to the secret places. You secured it. And now we have a solution for that. And so it's just an incredible. And what is that opportunity? Well, it's everyone because if all the money's going to come into Bitcoin on a long enough time horizon. Well, in that same analogy with Uber, you have to be able to offer the goods and services that meet the demand of a market that people can't see because they just, they think of these either ideological terms or, or whatever it is around either self custody or Coinbase will be the only ways to, to interact with this new financial asset. And it's just fundamentally not true. Couldn't agree more with everything you all of you said. I think the, to, to Liam's point about the risks of that, that we see a jurisdictional risk and just security risk we've been talking about these just couldn't be more important to the average Latin American investor than almost anywhere else in the world, right? Like jurisdictional risk is, is becoming, has, has been part of, of, of the Latin American experience and is becoming a trending topic. Now again, with all this political consolidation we're seeing and, and, and new regimes. So everyone is very concerned about that this, this provides a solution for that. And so, so I think it just makes total sense. And to the to the non custody, to the self custody experience, like I, I'm a big proponent of that. But just this week I had a call with with a lady that came to the meet ups that I organized back in 2019. And she's been in the big in like a bitcoiner for years. And she'd lost all her Bitcoin because she didn't understand that creating a new ad like she backed up a new seat and she just thought she had to grade and get a new address from their wallet. You know, like in Etherium, they have like one out one wallet equals 1 address. So she thought it was the same. And she just started by switching addresses. She was using a new wallet, but she was still on the old wallet. So she just lost all her her savings like that. So you hear these stories and you're like, no, some people, some some people just don't need this, this complication. Even if they've been in it for years, it still doesn't work. I think this provides a, a well balanced risk approach. MIC is is is that so I, I couldn't believe in this more. And on to the to the other point about being a lean startup, I think with AI in place today, we're, we're able to do that 10 times the work we were able to do in our, in our previous startup, right? So it's not just the experience that we've gained since then, but also the, the tools that are at our our disposal to be able to be lean. I think that's more relevant than ever, particularly when you consider Bitcoin as the hurdle rate within this framework, right? Then then you just understand that only startups that are able to scale with and to remain lean and scale with AI tools are going to be the ones that are able to, to, to fit within the Bitcoin and hurdle rate narrative, right. So all of this combined just makes it clear that that this is the the approach to take. And I think already being Bitcoin only differentiates us in our markets where the the Chinko narratives have been way more present than almost anywhere else I've been. And adding multi institution custody and a white glove best in class brand to this just makes it so that I, I really don't, I, I see it the same way. I don't, I don't think I think we're in a legal part. I think customers are going to are going to see it that way. That's the reception I've been getting so far yet. So this is all very exciting. Yeah, that's a great point too on just the fact that everybody knows that there's jurisdictional risk too. And so while it's not necessarily, you know, immediate or actionable, there's a really nice opportunity here too that we also saw for Areo to be infrastructure partner to other local fintechs, banks and financial institutions who want to partner with multi institution custody. The reality is, just like how money goes from softer money to harder money over long enough time horizon, so does custody to go from the worst custody to the better custody. And so accordingly, those customers will be the ones on the edges who will seek out better custody. But there will inevitably be internal champions of your product or service within the largest local players. And then there's a a nice opportunity for you to offer an ability for them to plug in and, and offer all the legal and, you know, operational constructs around being key holders down in Latin America. So couldn't be more excited about this opportunity. And and there's just so much here. Yeah, it's a huge validation on our part. Gustavo, for you the team, think about Nate as an example who was at Unchained scene first hand. We just seen this, whether it's investors and early riders or clients of on Ramp and also now portfolio companies we've invested in, they're just frankly are and it sounds like we're talking our book. But the most sophisticated people in the market because they've had to go through and build and see the gaps in the market to come out the other side and realize what we're talking about here. And this is kind of the definition of alpha because the rest of the market is still saying a different thing and we can see it's really just price. Frankly, as the price appreciates, all of these things become incredibly paramount. I experienced this back in 2020, building and chain in 2021 as the price rose, everyone seeks better fault tolerant, redundant solutions because that's just rational sense. If you're storing your economic value in a digital currency, you cannot get knocked out of the game because your C phrase messed up or somebody kidnapped you or took your family. The other thing that's super fascinating that maybe we can spend a quick second on is really the notion of Bitcoin as a hurdle rate. This is something that, you know, we really kind of pioneered. We put out our white people two years ago. The denomination was really important because it was the right thing to do. Now it's obviously playing on hard mode because you have to return Bitcoin, which they don't make more of or they make very little annually for a while specific to dollars. But the point being, as I was listening recently to Luke Roman, who is just one of the greatest minds and not only understanding where we're going, but really the understanding of when you think about AI. And there was like this stat that came that he was referencing that by 2032, like the average worker from like a, a human, like manual production will be roughly $5 per hour, meaning that we will have robots being able to do so. We have like 6 years roughly where human robots will be able to do a lot of this work. So just insane deflationary forces, which will naturally put a huge strain on the global debt markets, business building. And so investors are increasingly going to wake up with this new kind of narrative around debasement trade and what what has happened with Bitcoin and gold that they're just going to naturally start denominating and requiring the denomination of their investments to be in hard assets. Because that's basically will be the heuristic if a company has the right long term opportunity, because if you don't have any dollars, you're ultimately in building a business like a traditional dollar VC backed firm. You're going to get out competed by the the companies that build and start from the ground up. And I think that's still widely misunderstood and misprice. It's just rational in the same way we talk about bitcoins, rational multi institution, rational building with Bitcoin or gold as your hurdle rate. It really simple. It just increases your cost of capital, which increases the discernment and efficiency of the entrepreneur. And that's the name of the game in business. People don't talk about business is ultimately war, like you're competing with somebody else and they're trying to become more efficient than you. And the person that has the right incentive model is ultimately going to outcompete the others if they have the right entrepreneurs, the right founders, but then the right underlying denominator. And so I appreciate you bringing up the hurl rate because it sounds like a novelty, but it's frankly the only way once you understand all this stuff to invest and build a business, if you're going to if you want to have a fighting chance to out compete the next company that comes with that same lens. Today we're kind of running circles because we're just already understand it. But you know, information leaks, people will do this and then naturally we'll have competitors and you want already have all of that market knowledge, tribal knowledge to be already building and then it compound while other people are just starting. Are you a Bitcoin treasury company? Are you a private company, a public company? Do you have Bitcoin on the balance sheet or do you want to acquire Bitcoin for your balance sheet? Well, we just launched on ramp business this week. The future of corporate treasury is here. You can see on the screen here a little bit more about it, but at the end of the day, we're solving for the biggest pain point in corporate adoption, which is custody. So you can use multi institution custody to secure the Bitcoin on your balance sheet. In addition to that, you have Lloyds of London insurance, you have role based access controls to build governance into your organization. You also have real time proof of reserves, 24/7 cryptographic proof of reserves for your own dedicated wallet. And really, this is solving for, at the end of the day, security of your Bitcoin for your business. Business continuity, which has often fallen short for many organizations, whether it's just managing keys internally or relying on a single institution. And maybe perhaps most importantly, eliminating single points of failure. If you are a business and you're relying on a single custodian, that is a significant amount of counterparty risk. And likewise, if you're managing keys internally, then there is a lot of room for error. So get in touch with us here at Onramp. We just launched our business solution and we'd love to speak with you. So head to our website onrampbitcoin.com and book a consultation to learn more. That's exactly right and really liked your comment to Gustavo and already living on a Bitcoin standard too, because it's important to actually, you know, be living it and see how it impacts your you from a personal perspective. And then the it's just natural for your business to use the same type of hurdle rate and living live that business on a Bitcoin standard as well. Just because you can understand, you know this, I've benefited from it at a personal level. Let me apply this to all their businesses and you know we've all tried to do that with our former. Businesses in the past to mixed degrees of success just because there, there will be some businesses that you know, are, are naturally a little bit more understanding and open to new suggestions and better opportunities. But there's just so much bureaucracy, compliance and stagnation in the current current way of doing things that it's it's very few companies at the beginning, but it's only going to be catch on more and more. Yeah, I'm brought. I'm glad you brought up the hurdle rate concept because it is fundamental to everything we do. And it's, it's just such a fascinating time right now with gold doing what it's doing and this idea of the basement being much more in the zeitgeist and less taboo than I think historically it was. You know, gold bugs for decades have effectively been telling the story around Fiat debasement and basically, yeah, you know, yelling into the clouds. No one was really listening to them. And I think this most recent gold move is, is opening a lot of people's eyes. And so you've seen, you know, what you consider more incumbent type type folks talking about this concept of debasement. You know, tweeting out charts that show equity returns denominated in gold or Bitcoin is just a, a, a pretty large pivot from where we've been historically in terms of people talking about these concepts. Because, you know, we've also talked at length about this, you know, the notion of nominal versus real returns, it's all related to this debasement trade, right? But when people historically think about nominal unreal, they're doing some adjustment for, you know, government issued CPI. And so that's how they're getting from nominal to real. I think the, the actual take away from what's happening is that we're going beyond just that, just looking at CPI as nominal versus real and actually going to well, what's the real, real, you know, level of inflation, level of debasement that's occurring. And for that you, you're, you know, you're better off looking at actual monetary units, M2 creation of new money. And that rate starts to look a little bit more dramatic than the two 3% CPI. And so the, the extension of that is OK, if you're looking at the basement in terms of new monetary units, then you know, you should look at actual hard assets, hard money, gold or Bitcoin as what is quote UN quote real. And so that denominator shifts from saying, OK, we're going to price these things in dollars. Just, you know, the easiest example of looking at the S&P or the NASDAQ over the past 5 to 20 years and instead pricing that in gold or or Bitcoin, like that is the new version of quote UN quote real relative to to nominal. And that is like a pretty fundamental and and radical shift. And just in terms of the discussion and the discourse around Fiat debasement, even the word Fiat, right, like for a long time was very taboo. And just these concepts being out there, I think is is a really positive proof statement for everything that we've put forth on the early rider side. Because again, this is fundamental to our thesis of, you know, people have been operating with the wrong denominator. And not only is that, you know, an issue for them in terms of how they're calculating their success, but it also leads to to worse outcomes, which we've talked a lot about. Like if you don't have these constraints of real money as your denominator, you are more prone to capital destruction. You're prone to wasteful spending, wasteful hiring because you don't have that that sound money anchor. So all of this is related. And I and I think just generally super exciting time where these concepts are, are being more, you know, digested more broadly and actually sort of palatable and OK to talk about. Yeah. I just want to say that my personal experience has been exactly that. Just living on the Bitcoin sensor makes you more frugal, makes you more cautious about your spending. So it obviously applies at a company level too. And on my previous startup, you always want to, well, maybe when you're inexperienced, you have this idea that to, to grow, you got to like hire people. You know, it's like, I don't know, now we're reaching your step. We got to hire people. I got to be more like a, a manager role. But then you're like, is this really capital efficient? Is this really the, the way to do it? So, but once you have the, the Bitcoin and sort of break mindset, then, then, then, then you can just every, every decision you make always brings back to this point, right? And, and you can, and you just make more rational positions, but I, I really think AI also plays a very important role here. And, and I, and I want to reemphasize that just because it has completely scaled my productivity and, and I'm sure of, of others too. And, and even like the popularization of of all these concepts, sometimes I wonder how, if you use AI properly, you can arrive at irrational answers and like like an exercise I did a couple of days ago was like, what does it look like? What does Bitcoin custody landscape look like in in 2035? Right. If Bitcoin is successful, it immediately is mentioned. OK, well, the, the Federal Reserve of the US is held in multi institutional custody by by several players, right. So, and this aligns with with the Bitcoin Policy Institute report that recommends multi institutional custody as, as the preferred way for, for strategic Bitcoin reserves by, by state treasuries. So this I think we're, we're just seeing an evolution of the landscape and, and the way people approach all these things and, and, and it feels like, like it's, it's slave, but it's still extremely early, right? And particularly in Mexico and particularly Latin America, it's just way more, it's way earlier than in the United States. So it it makes a lot of sense for us to to start building now and later be able to not just provide it to like services to investors, but infrastructure to other companies. Yeah, it's a it's a great point. And the beauty of all this is doesn't happen in a vacuum. How Brian was referencing the negative outcomes incentivized if you're raise a a dollar VC firm, you're you almost have a hammer and everything has to look like a nail because you need to deploy those dollars because you're sitting on them and they're losing purchasing power. The incentives. But then to your point around AIAI also in adoption doesn't happen in a vacuum where you see these large companies in the bureaucracy that exist and why they can't do them or they they don't have the best incentive to go and adopt the most efficient outcome versus if you're going to have to spend the Bitcoin to go, you know, hire somebody or leverage a tool. But then you realize, you know, going down B route is much more efficient. You get to retain more back when it's purchasing power. Yeah, it's it's an awesome spot to be in. We're still very early. The reason why you don't hear a lot about it, about this and again is the opportunity is they're very destructive to current narratives, current status quos and ultimately current capital markets. Because whether it's building like this, if you've raised in traditional dollar terms for Bitcoin, for AVC Finder, you've already started that process. Well, that's very hard to disrupt. It's very hard to allocate that capital. But then also if you're a legacy company, you've already built a certain narrative around custody. It gets very hard to adopt things like this. And that's really where the opportunity is building from the ground up. I know we have a little bit of time left. I wanted to do a quick, quick announcement of because we didn't get to cover it last week. We had the and Gustavo, this will tie into some of the stuff you guys are looking to do is we had the on ramp business launch last week and that ties directly into all the value prop for multi institution custody. But the reality is we've had all this Bitcoin and corporate adoption, I think 1.2 million coins the past year and ETFs and then public traded companies, but all that capital's ultimately gone to like Coinbase majority. And obviously there is there's a number of issues with that. But the reality is very few companies not only have multi institution, which is again just share protecting shareholder capital, right? The fact that one custodian for whatever reason, can't lose move those assets, But then you still need additional tooling, right technology on top of that to create the same experience that exists in the traditional markets around financial controls, meaning maker checker, multiple users, the ability to have read only access pulling reports. So we're really excited about this because we've seen an inbound increase in pubco's coming to use our services in companies and we released a case study with us, but it's still just kind of crazy. We're that early in Bitcoin that these controls don't actually exist that best exist proof reserves the single custodian. So wanted to give a plug to that. Anybody that's interested in learning more, please reach out. Yep, very well said. You can go to on rampbitcoin.com/product/business to learn more. Anything else gentlemen? I know we're a little over an hour. Any other things you wanted to highlight? Just wanted to mention that we're going to be, you know, pushing this announcement Live Today as well as investment memo. So check that out if you're interested in learning more. And I can hand it to Gustavo to, you know, point people in the right direction in case they are based in Latin America and want to learn more about everything that you're doing personally. And then and then the business with Rao as well. Thank you, Liam. So you can go on our website, audiobitcoin.com to learn more about everything we're doing. And so first of all, we still have our existing Swapito service to sell Bitcoin in Mexico that remains live. Very soon we're going to be adding the ability to buy Bitcoin in Mexico and our platform all automated and and very secure. We have as of today our private client services. So if you want to buy more than really if you want to buy more than $10,000 in in Bitcoin in Mexico, you should just reach out to me. You can go on our website and immediately book a call with me to talk about not only order execution and by large sums of Bitcoin, but also how we can onboard you to multi institution custody or advise for your for yourself custody stash so that you can have both and and every other type of white glove service that you that an investor requires in Mexico for for Bitcoin. We we can provide that. And finally, I just want to mention, yeah, that I mean, you can sign up to a newsletter to, to stay updated with everything we're doing. And I'm based in Mexico City. I'm part of a community called La Casa Satoshi. So if anybody listening is in Mexico and wants to join us at our physical community space, it's it's a very professional on secure securing an open space. You can reach out to me or you can go directly on, like I said, Satoshi's social media to to find our our latest updates. Awesome. Sounds great. All right, gentlemen, thanks for joining us, Gustavo. This is awesome. And if you want to learn more, check out those links in the show notes. Appreciate it Gustavo. Excited for everything to come and got a lot of announcements in the coming months of next year, so looking forward to it and also looking forward to getting down to Mexico City to visit. Yeah, big week. The rest of the. Week this week, too, so stay tuned for everything and sign up for the Early Writers newsletter if you haven't already. Thank you, boys. Thanks. Thanks everybody for tuning in this week. It was great to discuss all that's happened over the past week as it relates to business formation. Every new development that's happening in the digital asset space, as well as the opportunity for early riders to partner with Oreo. There is a really big opportunity for everything that they're doing down in Latin America and the opportunity to offer infrastructure for other businesses as well. I'd highly encourage anybody who found the conversation interesting to reach out to usdirectly@contactearlyriders.com and check out everything that's going out at our website. There's a ton of research that we're putting out and would encourage you all to follow along or reach out to me directly at liam@earlyriders.com. There's a lot more that we're going to be publishing this week. And really anybody who's looking at the Bitcoin space and trying to understand how they can fit in, either as a founder, operator, entrepreneur, or allocator would enjoy any conversations with those who are looking at the space in a serious way or connected with how we discuss and put out research and talk about deals that we discussed this week. So thanks again for tuning in and talk to you next week. Thanks for listening to this week's episode of the show. If you found the information valuable, please share the episode with a friend or leave a rating on your favorite podcast app. All the links we discussed in today's show will be in the show notes inside your podcast app. Before we finish, a quick reminder that Onramp Media is for informational and entertainment purposes only, and nothing should be construed as investment or legal advice. Regardless of where you are on your Bitcoin journey, we'd love to hear from you. Visit onrampbitcoin.com contact to schedule a consultation with one of our private client advisors.
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