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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 role of gun. The one thing that's missing that that will soon be developed is a reliable E cash. Hello, we are back for another episode of Final Settlement. I am here joined by Mitch as well as Dhruv and Himanshu. Fellas do you want to introduce? Yourself absolutely. So hey guys I'm Himanshu the Co founder and CTO of Arch and I'm joined here with Drove my Co founder. Yeah. Hey guys, Drew here, Co founder CEO of Arch. And the focus of Arch is really on providing a high level financial services for people with Bitcoin and crypto broadly. The main product we have is over collateralized loans against crypto assets where we don't re hypothecate collateral and allows both individuals and institutions to access liquidity without needing to sell and all the, you know, tax and other implications that come from that. And so we're happy to to shout further about some announcements that that we've. Had together wonderful, Yeah. And Mitch, I think there was something you wanted to speak about with the recent partnership. For sure, we announced last week partnership with with with arch to provide Bitcoin back loans to our clients. We've we've heard for months the the need a constant request for for our clients to add to access that liquidity. Whether I'd say primarily because they don't want to sell their Bitcoin and you know, wanted to wanted to purchase and they didn't want to take the capital gains hit. And the response to to the partnership has been been, I'd say overwhelmingly positive. You know both, you know the, you know support they're getting from the the arch team, you know the white glove service as well as you know easy to use product. It's it's been great thus far and couldn't be happier with the with the relationship. So why is there so much demand for Bitcoin backed loans? So if you look at Bitcoin over the past few years, it's been a very well appreciating asset, but one that people have considered now for a lot of use cases of store of value, right? So when you have something like a store of value in the traditional, you have stocks, you have bonds, you have houses or other forms of real estate, you go leverage that to fund other needs that you may have. But that's investments, whether that's cash flow, whether that's any big purchase that you have, you need to borrow against the assets that you own because that makes you more creditworthy. In the same way with Bitcoin, you can borrow against Bitcoin. Bitcoin in our opinion, especially as lenders is pristine collateral. It is. You never have to mark to market. It's price 24/7 365. The market never stops and you can always know exactly where you are as a borrower and as a lender in a Bitcoin back loan. We've been fortunate enough to be doing this for a few years and have learned a lot about the business, even more than we came in with and have learned about the wide variety of needs for borrowers. And you know, we've actually seen a number of interesting borrowers already with the online partnership who'll be able to benefit from this and go make other investments or users for the purposes. So how does it work? Yeah. So essentially the way it works from start to finish is you go through and maybe I'll speak about it as art specifically and then we can talk through like how the partnership looks like. But folks would come to our website, create an account, and from there you configure your loan where you tell us how much Bitcoin you have or what loan amount you're looking for and it'll tell you the amount of collateral that you need to deposit. As you go through, you electronically sign the loan documents, we spell out your interest payments and everything else associated with that loan. You also pick your duration. And one of the unique things about Arch is we go up to two years fixed term, which no one else in the market does. And so once you've finalized all of that, you send your Bitcoin collateral over to our custodian partner. We work with Anchorage Digital, who's a federally Chartered Bank and AUS qualified custodian. And once those that collateral is received, we disperse you the loan. You can get the loan in dollars into your bank account or in stable coins into a crypto wallet of your choosing. And from there on, you're free to do what you want with your funds. And then once you pay off your loan, your collateral is sent back to you. I think Liam, one of the key considerations why we did this partnership and why customers feel comfortable with using Arch for Bitcoin backed loans is we don't rehypothecate assets at all. So we don't touch your assets, your Bitcoin is yours. It's sitting segregated in custody and we can talk more about what we plan to do there in the future later as well. We are US regulated and all the states that we operate in. So you have the comfort of the regulation, you have the comfort of US not reapporting any assets and keeping our assets completely segregated. So it's a very safe traditional way of doing things which combined with a high level of customer service, in this case both from the on ramp team and the Arch team, people feel very comfortable using this for a lot of their needs. Yeah, I'd say like, while as far as easy to use, the comfort is certainly there. It's a delightful experience. You know why we chose you guys as you know, a partner to to launch here. Number one, it was the no re hypothecation and you know, firmly stating, you know, keeping keeping that stance I think is important. You know, the segregated on chain addresses is is a delight for our clients. But the the important thing that, you know, I'd say, particularly looking at the lending market the last couple years and you know, the failures with, you know, your block fives in Celsius is was, you know, really the bankruptcy remoteness ensuring our clients Bitcoin remains theirs. You know, regardless of you know, what anything that happened to Anchorage, you know, you've got the insurance policy, you've got bank bankruptcy protections in the trust. Anything happens to arch, you know, you've got a back up loan facilitator that that would, you know, take upon the loans. It is fairly bulletproof and which was important to you know, our product is a deep cold storage product. It's, you know, it's in place to to ensure that you pass down your Bitcoin to, you know, to your family, your loved ones, You know, we've got inheritance built into the app. That story needed to mesh well with the partner that we, we ended up launching with. So, you know, and was the primary reason we, we chose you guys was because we believe that Bitcoin, you know, first and foremost that Bitcoin needs to remain theirs. Yeah, that's actually a great point because our our original was has been to be there for the long run. You want to be your banker till the end of times and you guys have the same version. So I think it, it gels very well with how one, how we approach our clients, how we take care of them and also how we structure our products to make sure their assets remain with them for a long time and, and and beyond. And we, we've certainly seen the care. I think one of the, the important things we do as a firm is, you know, so many of these companies in the Bitcoin space, there's there's no one to call there. You know, in at on ramp, you'll always get a face, you'll always get, you know, a human to go talk to, you know, helping with onboarding, helping with transfers, helping, you know, any questions they might have. And for you guys, it was it's, it's exactly the same. You know, the support is there, you know, very much, you know, 24/7 for, you know, anything from test transactions into, into wallet test transactions to receive, you know, collateral. If it's USDC, you know, we've seen, you know, weekend night support. It's, it's, you know, it's been a delight for our clients. Yeah. And this, I think that's been a key focus area for us is that client service where even if you're not an existing client, you can book a video call and someone from the team where AUS based team will get on the call to walk you through how everything works. And from there, our product is quite intuitive. And so most customers are able to do everything without talking to us. But should they need, they can find it in various points throughout the whole experience. No, it's a great solution. I mean, trust is paramount in this and seems like you guys have built a very fairly resilient product with it. So wonderful. I guess just tell us a little bit about your existing customer demographic. Who finds value from this. Does this make up the entire Bitcoin backed loans? Do you think you're similar to the rest of the ecosystem, your specific demographic? And who do you see benefiting from this in the long term as well that isn't an existing client? Yeah, I think it's our customer demographic is fairly unique. I think compared to other lenders, we're slightly more upmarket than the base level of retail, although we do allow people taking loans anywhere from $1000 and up. Our average loan size is well into the six figures. And we serve everything from individuals all across the country to somewhat higher networks as well to all the way to a lot of Bitcoin miners, hedge funds, we have a public companies that borrow from us. So it's, it's really a wide variety and I think that's enabled by our software and by the customer service where the software makes sure that if, if you want to take a loan, you can have the loan fully configured collateral received funds to sports while we're having this conversation here without us being in the loop at all. So you have that speed. And then you also combine that with the Wyglot customer service where like you can have a conversation with someone on our team instantly via chat and within, if not a couple hours, same day on video or on the phone. Interesting. And who else do you see that doesn't currently benefit from this picking this up in the future that doesn't currently that thinks it's a little too risky or you know, isn't quite there yet? Yeah, I, I think it's probably not like who else just given the, the segment, how much you described is so bright, you know, from individuals to companies, whether you're a small public company or even private, sorry, a small private company or even publicly listed. I think the bigger thing is more on education and just making people aware that this is an option people are, are comfortable barring against their assets broadly you look at mortgages, Helox, barring and stocks and all of those options that are available. But this is really just more about making people aware about, hey, you can do this with your Bitcoin hammering home, the non rehypothecation, because I think people are sort of concerned over the failures that happened years ago. But these are more of the points that we emphasize as opposed to being able to go to a net new audience because I think it's applicable to everyone. We see it in our current demographic and it's more so just hammering home why we're sort of a safe, transparent option here. And like, as far as, you know, new clients, you know, we, I spoke to two clients today that were both buying homes and they were, you know, they didn't want to sell their Bitcoin. They didn't want to take the gains. And, you know, 1, you know, was ready to go do a day one. The other one wanted to, you know, create the rails and get it in place for when, when they close on the House. Like these are very real needs that, you know, if someone may not want, may might may not have any any history taking out these loans, you know, but needs needs it in place because you know, they're going to have that financial, you know, event that that that comes to them. And you know, it's having something in place there is is important as they're making that decision, going through the process. I think Home Bank is actually a great example for why this partnership also make sense for a lot of your customers and a lot of people who are buying homes in general, because most lenders will go maximum up to one year last. The bigger lenders go a few months only. We go up to two years in a fixed term and you can keep rolling over into a new loan at the end of this two years. So you can in theory. So there's a very popular saying in the private banking world which is buy, borrow or die. You never sell your assets, you just keep borrowing against it. And you can do that here. So you have a line of credit with us, whereas the collateral appreciates. You can just borrow more against the same funds. You can always add collateral and borrow more anyway. And then you can keep rolling it over. So you don't have to pay the principal back. You can keep rolling over your loan. So for a home bank use case where you want to actually payout over a number of years, not just in the first year, there's a lot of benefit to a structure like this which lets you borrow in the long run. Also if you, if you don't mind getting into, you know, I'd say most lenders in the space are more open term and can call back, you know those loans you know any given time if you know market fluctuations or that US DS call back, can you get in a little bit about like the the credit facility that you guys have and how those loans are sourced? Yeah. Yeah, I, I, so I think like there's a few things that are important to to call out here. 1 is where the capital comes from, right? And so if you look across the industry, some people are taking in capital from more retail and then lending that out. Some people re hypothecate your Bitcoin and that's where like capital comes from. And so for us, because we don't ever touch client collateral, we've raised a CLO facility which stands for a collateralized loan obligation and this was led by Galaxy Digital, but will very soon be announcing other well known institutions that have participated in the mix. And so our capital comes from that financing source, which is very common in the traditional financial world where you have like personal loans and all sorts of other types of products here that allows us to then give out loans at fixed rate and fixed duration without needing to worry about, oh, I need to call the capital back from a given borrower just because we have this separate structure that's fully for loans. Yeah. We actually don't have the ability to call back loans, which is great. So like we're not even allowed to do that and our capital is a much longer duration than the loans that we give out. So we're always going to guarantee that we're not going to have a duration mismatch which would necessary a capital call. And like those terms, that's that structure you need to go make financial decisions that you know, like buying a house or making, you know, another investment. Like to have the the assurance of that duration is not going to be there and that that capital is going to be called back when you know, FTX happens and you know, markets crashing when like it might be hard to actually get that liquidity somewhere. It makes a dramatic difference to our clients and truly a partner that we wanted to go. It's a completely different paradigm like you mentioned open term loans, right? The Max callback periods we've seen on open term loans from other lenders are like 3 months. That isn't that you plan for real financial decisions. Wonderful. I guess you touched on it briefly, but can you talk a little bit more about how Bitcoin is pristine collateral, both the liquidity, the custodial nature of it in your view on this relative to other asset based lending options that there are? For sure. Yeah. In fact, now there's been a lot of focus on Bitcoin in the US As you know with the new administration, Bitcoin is very clearly a commodity. It is the most pristine collateral for a lender for a number of reasons. We don't have to, as I mentioned, mark to market house, which you would have to price every few months or every time you refinance. We don't have to worry about what the price is going to be because Bitcoin trades trading for seven in a stock based margin loan which you get a Schwab or somewhere else. You could actually be underwater as a lender if the market opens super low the next day right? That isn't happening. We always know that it's trading at a certain point. If in a very bad situation, you do have a liquidated portion of collateral, you can do that while that's happening because the systems are fully automated. A lot of other lenders don't have automated systems, but ours our, but as a lender, there's no way for us to have a loss. But as a borrower, you also know that things are very transparent. Everything that you see is the same thing that we see. We don't have any extra information or anything else on you beyond what the price of the collateral is. And that's what defines the loan and all the terms are stated out at the start. So Bitcoin, as you know, trades very significantly every day. It's a very high market cap asset and we only see that going higher as nation states, other institutions come in. So I would say we're still in the very early innings of credit against Bitcoin. And this is just going to be a much, much bigger industry as the US go by. And the reason for that is that Bitcoin is going to continue to be perceived as pristine collateral by everyone who wants to collateralize it or lend against it. Yeah, agreed. I think we've definitely seen more demand from potential borrowers for Bitcoin loans rather than lenders at this moment. Obviously, the lenders are moving a little bit slower as well. And so, you know, at this point, there are still some people that think that the interest rates are a little bit too high, just given where they've seen loans for a bunch of different other asset classes. I guess, could you speak a little bit to that and where you see the market going moving forward? Yeah. I think 1 is also important to step back from the past few years where we were in a more of a 0 interest rate world. And so even right now when you have mortgages sitting at 7%, we lend out anywhere starting at like a all in 14% up to like 16 and a variety of it depends on the duration you're choosing, the loan size as well. And so there's not that big of a difference there. When you look at personal loans, even if you're a prime individual can be in that ballpark. Barring against your stocks at some brokerages is also close to the double digit mark. And as Amash, you pointed out, it's important to also note this is still early as an industry. And so as we continue and we've been having conversations with banks to partner as well, you'll see the cost come down and sort of the rates that are passed on to borrowers come down as well. And so you could expect to see that from us as well going forward is we're always working on how do we lower the cost of borrowing to our end customers. It's actually very simple maths, right? We have a facility with a certain amount of dollars in it. We'll like, we'll soon be announcing an upsize to it. As that value grows, the cost comes down. That combined with rate cuts from the government and just people's comfort with this as a landable asset class. In our opinion, this is a a very great opportunity for people, institutional lenders that want to on yield because this is structurally a zero loss loan product. So it's not like other loan products where you have to go claw back or go get your funds back when you're underwater from a borrower and there is no way for the lender to be underwater. So that risk premium is it has not quite been priced in yet. And over the years as this becomes more mainstream, I think it will get priced in and the and the rates will come down significantly. So you glossed over the zero loss loan product. Can you explain that a little bit more to those folks who may not be quite as familiar with that? Yes. So our, so I'll use the numbers we have here, right. So in our partnership, borrowers can borrow at 50% loan to value or anything below that. If they want to be even more conservative, there's a margin call at at 70%. As the price of Bitcoin drops, there is a period of 24 hours for borrowers to then add some more collateral or pay back some more principle to bring it back down to healthy LTV. We do work with borrowers who are travelling etcetera and need some more time at 80% of the partial liquidation again just to bring it back to healthy LTV. So in all these scenarios, the LTV is never gonna touch 100%, which is when you break even and then above 100% obviously as the lender were underwater. So that doesn't happen and it just keeps the loan book healthy, keep it keeps the borrowers never delinquent and it helps us obviously as a lender manage a healthy loan book. Yeah. And and maybe the one thing I'll also add going back to the, the rate is you're also part of the rate is for non re hypothecation, right? And so there are costs to just storing Bitcoin securely at Anchorage. And for a lender like us that never touches client collateral, there is just a premium associated with that. Like there are probably options whether maybe a percentage point or two lower than us. But read the fine print. They re hypothecate and your assets are not in custody, they're getting put to work to get yield, which is why they can offer you a lower rate. We don't do that and we've learned from the failure of 2022 and don't plan on doing that. Your Bitcoin becomes the liquidity to go issue other ones, which time and time again we learned that doesn't work. So that's one of the very important reasons why we went with you guys. And one thing I wanted to harp on which you know, a reason why the partnership works, works so well. And you know, why, why we wanted to add lending, you know, to our offerings as well, is, you know, the ability to work hand in hand with you guys in a margin call scenario, a, you know, potential liquidation scenario where, you know, if we have a client that uses us for deep cold storage, you know, and we've gone through that process, you know, over, you know, the last week too, of, you know, if the withdrawal needs to be made, you know, working hand in hand with you guys keeping you posted the whole way. You know, we need to verifications both, you know, with on ramp with Big O is, you know, our typical process to, to go move funds, take some time, you know, for our clients, you know, we're, we're talking with you guys, keeping you posted the whole way so that, you know, that, that which client doesn't get liquidated, that that withdrawal can get processed. We also, you know, we've got all the, the margin call levels for, for our clients and their loans. We contact them before or you know, even those levels are breached before, you know, your emails go out. So we could signal to them to get ready and just be aware that that this could happen. Yeah. And and you guys have the dash rule with like all, all the reporting on the user and loan level on where the Lt. VS are. So you know exactly what's going to happen and can almost anticipate these scenarios happening. Exactly. I guess like, where do you guys see financial services on Bitcoin going in the future? I know Bitcoin's less than two decades old, so we're still a bit early, but where do you see this going over the next 5-10 and ultimately longer time frames? Yeah, I think we're still in the early innings, right? Like today, you can borrow against your Bitcoin at some at some avenues, but very restrictedly you can get yield against it. There's not much more you can do. There's like structured products that could be brought in here. There's more safety on the custody side. We've seen a lot of hacks and such recently and that actually speaks well to your product where you have another layer of safety on custody. So clients are really, really ensuring that their assets are safe. And with this partnership at some point, we'll get to that as well on our loans with you guys. So that's I think very vanilla, like obvious things that could happen. There's probably a lot more you can think of here. Yeah, I, I think, well, maybe one of the other interesting things that again is like even more nascent than lending against Bitcoin is packaging up with other asset classes. Like I know people are looking at real estate and Bitcoin together and maybe lending against like a combination of both of them, but still really early there. And I think a lot more to come over the coming years just as lending markets evolve here. I say it's also, you know, talking about early like this is this is the first announcement we will have with you guys and a partnership we intend to to be long term. There'll be other products and services, you know, that way we roll out, you know, first, you know, I think soon, you know, we'll have the ability to to show, you know, loan details and deposit address, collateral addresses in in the on ramp app. But eventually, you know, and it's been asked from our clients to put these a multi institution custody where the, you know, funds can get all the the benefits of, you know, having multiple custodians protecting that, that those keys. But that said, you know, you know, we're, we're both building towards that vision and, you know, looking forward to, to announcements there in the future. Of course. I guess one of the things that a lot of people have been speaking about at least in the recent times, it's just the repeal of Saab 121 and larger asset managers being able to hold Bitcoin on their balance sheet in a way that or on behalf of their customers in a way that makes more sense for them. Have you seen I guess any early interest on that side or any, you mentioned a few at large lenders that we're now getting a little bit more interested in actually being the lender side liquidity on that. So I guess we kind of have two questions there, which is one, how do you think that's going to work with banks holding Bitcoin and other digital assets on behalf of clients? Will it be sort of collateral like re hypothecated just like dollars at typical banks? Do you think they're going to be a little bit more thoughtful with that and will that drive additional demand on the lender side for Bitcoin as well? Yeah, I think like banks have also had the the sort of benefit of learning from all that's gone through in prior cycles. And so I would imagine that they are not re hypothecating the clutter that's held. It certainly is now easier for them to enter and and hold Bitcoin. But I think it's still too early to tell how they'll do it, whether they just partner with existing custodians that are out there, whether they look to build it in house. And you know, that's just custody. There's a whole variety of other financial products on top. Like when we think about lending, we've spoken to a fair amount of these institutions to figure out how do we partner together to power these types of products for their end customers. And so I think 1, there are like layers to the Bitcoin financial products. Custody is like the earliest one and the first one that makes sense to start with. But even then, it's unclear whether there's going to be a partnership or these banks will look to build it all in house. Like we talked about this a few weeks ago, like the risk teams at banks, you know? Are extremely conservative. They're extremely conservative and you know, to go build something in house for an asset that you know, if you, you know, don't have the right procedures to to go secure can can quite frankly just disappear. They haven't been used to dealing with something like that. So for them to get comfortable with custody, with lending like this is, it's a new sort of ballpark for them to to explore and get comfortable with. And I like I think with sub 2121 getting repealed, everyone expects the banks to go jump into the space day one that it's not gonna happen. But it's interesting working with a firm like you guys where to provide the liquidity to an existing solution where you guys have the reps you guys have proven this model out and it is bulletproof from a Bank of your remoteness scenario. It's, you know, it's a good story to, to explain to, you know, those large pools of liquidity that, that they have and, you know, provide, you know, additional yield for their clients or, you know, different ways to, to leverage that, that capital for them. It, it, this is a potential way that they can, you know, plug into this, you know, the, the, the Bitcoin ecosystem, digital asset ecosystem to, you know, to start to, you know, build products and services and, and leverage, you know, the potential that we have here. Yeah, without revealing any names so too much here, we we like, we do an announcement coming out in a few weeks which will add some more color to this and maybe mentions people getting involved as well. Wonderful. Anywhere else you guys want to go with this? Any feedback from the Bitcoin Investor week thus far? I know we're still a few days into this, but any key takeaways in terms of I? Think you would have gone more than we have to be honest. Yeah, I I'd say that the the takeaways is number one, it's overwhelming seeing the the attendees for the conference. Half of the rooms are half of the sessions are, you know, watching this conference grow has been been. Wonderful. It was one day last year. Yeah. And now we got, we got the full week and you know it. It's, you know, the, you go on Bitcoin Twitter and you know, everyone's panicked. It's doom and gloom, you know, prices falling. You walk into these rooms and you know, you're seeing large traditional finance firms, you're seeing, you know, industry Stallworths and they're not concerned. They're building and, you know, that's, it's pretty enlightening, you know, from where the this asset class is going that they're not not worried about the Skyfall and they're not worried about the, you know, the price situation now because they know what we're building towards how early this actually is. And, you know, as, you know, both a Bitcoin holder, you know, Bitcoin builder, it's, you know, yeah, I think it's, it's mostly up and to the right for, you know, for this industry. Yeah. And one anecdote that may be interesting, maybe not. We actually met much last year at Bitcoin Investor Day. Now it's Investor Week, but like we met in that room and it's good to see that exactly a year later we're we're working together. Totally agree. Exactly. Yeah, it's, it's fascinating to see a bunch of big names there that you wouldn't have otherwise. I think there's a mix of, you know, interest in the space. Some is very early and just personal and others are pretty large financial firms that are trying to figure out how to do it thoughtfully. So great to see everybody kind of getting together and and learning a little bit more. But yeah, as you mentioned, there's almost no discussion of actual price there despite a little bit of a correction this week. And it's good to see people just kind of trying to create long term products and services that other everybody can benefit from. Interestingly, there hasn't been much conversation outside of just Bitcoin as a whole. It's not been like, let's focus on the entire asset ecosystem. And obviously I'm not talking about the speakers. I'm just talking about the side conversations people are having at happy hours or different events. And it's just been like focused on Bitcoin and focused on like the growth of that one asset. And it's almost, I would say, in some ways an asset class on its own. It, it has, I'd say from an industry perspective, from, you know, anything from when you're watching CNBC to, you know, listening to, you know, the, the opinions of, you know, traditional finance banking industry, I'd say the Bitcoin only ecosystem has been been screaming for the mountaintops that, you know, it's Bitcoin, it's everything else. And, you know, I think that opinion is starting to come closer to the mainstream. Yeah, I agree. I would say outside of Bitcoin though, I think other tokens have a little bit less attention at the conference. But one thing that people are getting and continue to be excited about is just bringing stable coins onto Bitcoin just because of all the liquidity that's provided there. I know more so on the institutional side that are just super interested in being able to get the liquidity. Saw Bank of America's announcement recently and sounds like Caitlin Long was teasing some announcement that's coming soon. So we'll be interesting to see what other liquidity can come into the space just helping drive additional institutional interest in the space. We see it with you guys of you know, where I and I, I to be honest, I've been been surprised that the the default option for not default, but you know, commonly chose option for for sourcing these getting the dollars back for these loans has been USDC. And you know, we're Bitcoin only product, you know, USDC, it's certainly you know, I, I understand the use cases. It's, you know, it's very easy to use it's quick. You know, our, our brand is Bitcoin only yet you know, we, we've certainly, you know, the clients have chosen to, you know, to take that because they want the liquidity faster. So, you know, I, I certainly there's plenty of use cases for stable coins, but to actually to, to see it in practice has, you know, been fascinating to watch and, you know, looking forward to, you know, it being built on, you know, Bitcoin rails one day. I know there's a number of projects and number announcements that, that, that could be coming out there. I think you get resiliency speed obviously is the, the, the issue there. And you know, it's a hurdle to, to get over, but you know, it's speed and, and the fee market too. But you know, I, I'd say it's been it, it interesting and and seeing the delight on clients for how quickly they can source those loans. Yeah. Agreed. All right. Any final thoughts? Does any anywhere you guys want to send anybody who's potentially interested in in Archer on ramp? I'd say if you're interested in the partnership, reach out to reach out to On Ramp, you know, via our website. You can you message us, You can, you know, just call, schedule a consultation. We can walk you through, you know the, the offering and you know what we combine efforts can can offer our clients that you know, we talked about here. We can get into more details. Yeah, likewise, you can find us at archlending.com. Similarly, you can book a call, message us via our websites. We're also on Twitter, LinkedIn. Pramash and I are personally available on all those platforms as well. Yeah. Yeah. And then we have a very simple link with onrampashlane.com/onramp sign up from there, it's very easy. We'll know you're Onramp customer even if you don't. And you sign up normally you tell us you're Onramp customer, we'll make sure you're attributed as such. You'll get the benefit of both ours and Onramp's customer service. And look, this is a very, it's very early in ink in a very long term partnership for us, a very long term industry credit as a function of this asset cloud. It's still very, very small. It's gonna grow significantly over the coming years. So if you're here today and you're already using this or you plan to, you're joining something which is very useful very early and you're getting a very significant benefit. And if you're thinking about it, come ask us questions, come speak to Mitch and his team, Come speak to us, and we'll make sure to answer everything to the best of our abilities and then some. Yeah. To that point, there have been a bunch of companies that have come and gone and I really like how long term approach both Arch and on ramp are and building these types of products in resilient ways. So wonderful and that's great to hear. Yeah. It's, you know, at the end of the day, it's our clients money and you know, if you don't have that long term vision, you don't belong in the space. So you know the both from long term vision to the the white glove services, you know, I think both firms are are going to be here for the long haul and have the right mindset. Thank you for having us, Liam. Wonderful. Thanks for calling. Thank you. 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 On Ramp 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 on rampbitcoin.com/contact to schedule a consultation with one of our private Client advisors.
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