CryptoPass - Ensuring Compliance with EU Regulation and MiCA

[Music] thank you hello how are we I'm Jeffrey I'm the founder of crypto pass and I'm delighted to be sponsoring a workshop on compliance it's something that nobody really wants to know about or deal with because it's so complicated but for everybody in the blockchain crypto world it's something that one really does need to know about and we're really lucky today to have two people one person is going to tell us about the world of regulations and compliance and someone who's actually going to demonstrate some tools so hopefully this will be a great Workshop so we have Maha al-sadi who's compliance and Regulatory Affairs director for a private German Bank and Maha is like a rock star in the crypto compliance area she's at all the conferences and panels and we're really lucky to have Maha here today to give us an overview of what's coming in Europe um and it's very important for all you guys to know and after that we have the chief technology officer of crypto pass our tours with our Nazis from uriga um who has an amazing team that have spent the last year developing tools to help to help deal with the regulations tools which will help people in the crypto and blockchain world to deal with the regulations that you'll be hearing about today so and that's what we're we're going to have a discussion here and uh I think we're going to go with Maha we're gonna let her take it away and we're going to talk about compliance and then we'll talk about the tools thank you so much first of all thank you so much for much for having me audience how many of you know about Mika the market in crypto asset regulation yes okay that is the kind of crowd I like so I was lucky enough when I used to work for Deutsche berza the German Stock Exchange I was a lobbyist and responsible for advocacy and basically the digital Finance package was one of my babies so we started the discussions as you know back in 2020 with a digital Finance package looking into how could we regulate crypto assets and what are the distinctions so from 20 from September 2020 till just the 29th of June Mika came to life and you could argue that from 2020 to 2023 that is a long time not in European standards because you need to get a regulation you need to get all European countries to agree on it and you need to translate it into different countries so I'm kind of proud it is not an ideal regulation but at least we have a regulated clarity um so while the the regulation was published and entered into effect on the 29th of June it has two timelines of application one which is for stable coins or asset reference tokens and e-money tokens that will enter into ports as of the 30th of June 2024. the remaining Provisions that relates to crypto assets and crypto asset service providers will be implemented after that in the 30th of December 2024 and in the in the meantime the EBA the European backing Authority and Asthma are working on implementing um regulatory standards and implementing standards that will go hand in hand with Mika so this is just an overview of where we started it's not working apologies no okay so just a very quick overview what is Mika about what is it trying to regulate according to Mika there are three different types of crypto assets that it's trying to regulate the first one is asset reference tokens asset reference tokens refers to stable coins that will get its value or maintain its value from referencing more than one fiat currency or a basket of currencies or assets whose difference is from The e-money Tokens The e-money Tokens refers to one fiat currency and in this case it's the euro and other crypto assets which are the likes of Bitcoin ether other cryptocurrencies but what is outside of scope what Mika would not regulate is non-fungible tokens except if they become fungible enough then Mika would apply then defy and of course uh daos are out of scope and referred to instruments because financial instruments you will apply method 2 or the DLT pilot regime fun fact what about algorithmic stable coins are they in scope or not they are so the Terra Luna of this world will still have to apply but according to the crypto asset provision the asset reference tokens and e-money tokens was also out of scope are miners validators or um yeah monitors of varied areas are also out of scope so what's so special about Mika is that it also regulates the activities of crypto asset service providers and according to Mika there's a huge possibility to offer these Services you have custody you have trading exchange for Via exchange to crypto or your execution propriety trading transfer of services to third parties reception and transmission of orders providing advice that's very important wood for under Mika and providing portfolio management I think I skipped a slide by accident one sec I'm sorry but it was detrimental for the overview this one so what makes Mika very very special is the fact that it's a regulation what does a regulation mean a regulation means that it's applicable across the eu27 with no modification all national competent authorities within Europe will have to take Mika as their law there's no way around it so it's harmonized which gives us the past the ability to passports Mika across the eu27 so if you're authorized by the French AMF and once you have that license you can offer your services across the EU with notifying your Regulators the second thing is it gives you access directly then to all 447 million European citizens that's quite a big deal and it has of course the objective of balancing uh Innovation and risk and providing legal certainty another thing that not a lot of people ask talk about is if you are a financial institution a credit institution or financial institution you don't need an authorization unlike stable coin issuers that would have to go through an authorization process because traditional Finance firms already helped regulatory framework which you could argue put stable coin issuers into this Advantage so that's another thing that not a lot of people talk about all right sorry to have jumped back and forth so in terms of capital crypto asset service providers what do they have to comply with Mika is like 200 pages long and it sets seriously burdensome requirements but to keep keep it short and to not take a lot of your time I would summarize them into the following buckets Prudential requirements governance requirements conflicts of interest and complaint handling Capital requirements and this is where I'm struggling with the capital requirements for crypto asset service providers and stablecoin providers are exactly the same as those for financial institutions so you have to apply CR crd that was not very well thought through in terms of Reserve capital and what you have to do in terms of persuaded average um back in 2021 there was a huge discussion to ban Bitcoin because it's bad for the environment proof of work is not good so thankfully the European commission came to its census and decided that we will not ban crypto but what would happen is that you have to disclose um your economic your environmental uh footprint and that will come in environmental reporting instead Market abuse regulations so you have to apply trade surveillance you have to have best execution price transparency similar to traditional businesses and of course you have to be authorized okay so looking specifically at stable coins because that's what we're interested in today stable coins you have the e-money tokens singling one currency asset reference tokens that is a basket or different currencies or um um a portfolio of assets you have additional requirements on top that are super strict and you have your authorization requirements you have to make that your board or your management is fit and proper you have to have a registered address in Europe and you have to have Capital requirements Reserve assets you have to have Capital reserves saved a custodian or a bank you cannot just issue crypto your stable coins without proper reserves and that could be very very expensive um asset reference token providers have to have reporting requirements to their National competent authorities about the amount of stable coins are in circulation then you have the custody of crypto assets if you're issuing it you're not allowed to hold a lot of it you have to have I think 30 percent on the top of my head yeah thirty percent that is saved with regulated custodians to make sure that they can be um set for your for your retail customers um Redemption rights whenever someone wants to convert the stable coin to whatever they're backing it up you have to be able to redeem it immediately and the capital requirements we spoke about that briefly so we're talking about around 350 000 or 25 of your fixed cost or two percent of your average Reserve assets that needs to be kept aside for Reserve purposes recovery plans so if something goes bad you will be able to compensate your your clients and that would also include the requirements of having an insurance Indemnity in place for negligible risks okay since I don't want to be boring you with a lot of regulatory details but I need you to understand that Mika is not a standalone regulation if you comply with Mika that's not it you have a number of other regulations that comes hand in hand with Mika to complement them the DLT pilot regime this is a a voluntary regime that is part of the digital Finance package and the DLC fighter regime would tackle the uh financial instruments of method 2. so shares and bonds and units in in funds where you want to issue traditional Securities using DLT technology and it will come up with exemptions from Financial collateral uh saving things at a security depository so this is for the more issuing traditional financial instruments during during using DLT and it's a temporary regime that will last three years only and if it works then the European commission will extend it of course you have to comply with gdpr data protection requirement daura is a big pain and it's not getting enough attention that is discussing the Cyber resilience and operation resilience of your infrastructure and I see how do you make sure that it's you're dealing with the right third-party providers your Cloud providers you're not subject to hacks you also have to comply with the data act if you have any sort of smart contract element the data act will tell you that you have to to program your smart contract in a certain way that you have to have a kill switch which I'm starting to think how in the hell that's going to work sorry excuse my French but the data Act is something that also should be looked at is in terms of identity if you're dealing with retail customers and they have their own wallets then you have to comply with idiots in terms of identification client onboarding the anti-money laundering directive regulation and the transfer for fund regulation these are essential for Mika because AML is usually the type of Regulation or or risk that all The Regulators are super sensitive about when it comes to crypto and these are very strict in terms of putting crypto asset service providers as obliged entities as making sure that you have to identify your customers properly and when it comes to transfer for fund regulation if your transaction is more than one thousand Euros you have to identify the beneficiary their date of birth where they're coming from their source of funds and this is really hectic and that's where Solutions like crypto crypto pass can come into handy but as I said do not think Mika as a standalone regulation it comes hand in hand with all of these DAC 8 is the regulation that is trying to govern um the tax part of crypto how do you want to report taxes when it comes to holding crypto assets this is similar okay I don't want to bore you with so much details but the digital Euro is the European Central bank's allergic reaction to stable coins if you recall when Facebook Libra came along they suddenly decided that there's certain efficiencies that could come into play and that's when the ECB decided to issue um their study around the digital Euro personal opinion not that of my employer I think it's useless you do not need a digital Euro that is retail focused for European citizens why and it's capped at 3 000 Euros not using DLC technology not even programmable so here I really see that stable coins have much more to offer compared to digital Euro there are discussions around wholesale cbdc where I see some benefits issuing this um okay so I overran my time if you have any questions regarding Mika or end of the regulatory regimes please feel free to to just shout out um and tell me if I'm getting too Technical and now I'm handing over for an overview of cryptopath before we do that do we have some questions yeah why don't we I think we're small enough room we don't need to have microphones here huh oh great okay come on up and ask a question hey thank you for the beach it was great uh so here's the thing uh where Bill I'm building a D5 protocol uh it's like it's an it's a DEX it runs on top of audiobook it has a lot of facets inside of course and the users tell me what to do from the regulational perspective we're based in Europe by the way so DFI is still out of scope of Miko but what the European commission is doing is they're trying to look into ways to regulate The Entity behind D5 so if they can't pin it down to an entity a coder or um a person then they would argue it's not a defy and you have to be registered and you have to apply current regulation you have to to Really prove that you're truly decentralized for you to be out of scope uh there are there was um I would recommend you reading the the the research that was put together by bankto fonts that is looking into the is it decentralization or disintermediation and they put a consultation paper together arguing that there is no such thing as decentralization I disagree of course um and based on these studies they will feed it into the European commission to come up with suggestions on how to regulate D5 um the European commission is also establishing some sort of a supervisory Academy to look into use cases to regulate it so far we're in the clear because they don't have the tools D5 is going way faster than The Regulators can go my suggestion is pick up pick the national competent Authority that you feel comfortable with France Germany and start the discussions because as long as there's no law you can still influence it a few years back in my business partner tried to issue euroback stable coin from Netherlands everyone we talked to back then they explained us that this would be seen as an e-money and that you need to kyc every holder of the token um does Mika give a definite answer now to that to that question I mean if you need to kyca Beholder of a token even for amounts like a few Euros or a few tens of Euros then it's it's dead in the water and so I see a few stablecoin eurostable issues now that kind of skirt around it and say that our customers are the people who come issue and redeem with us but they don't consider the holders of the token as their customers is that within the framework so if if I go to an issuer I deposit Euros I get a token back but then the issue is says that if I transfer it to another individual or entity they are not their customers and so they don't need to kyc even so thank you first of all just to clarify if it's an e-money token then you're just pegging to the euro then it would be easier if you would have an e-money institution license I agree with that because you don't have to go through the whole authorization process and you would have a notification as opposed to an authorization when it comes to kyc um there are certain exemptions to fall out of Mika if you're offering your your stable coin for professional investors or if your issuance is less than 100 million on the top of my hand I think it was 100 million you don't have to to comply with Mika and then you can do it the way that is really decentralized out of the radar if the transfer happened between peer-to-peer without the involvement of a regulated entity or crypto asset service provider then you don't have to apply the kycs as you have it right now but the moment that you're dealing with a Casp a crypto asset service provider or institution unfortunately kyc would have to apply in addition to transfer for fund regulation not very cryptofriendly and the threshold is a thousand Euros hello is making that in excessively using cryptography competitive grids the data act which school for deletation uh once the files is an ipfs it's difficult to anything else to do anything with the data act in the smart contract apps or you say you need the delete the files you can delete the file but if you put the files on ipfs uh just uh we you can't delete kill access is okay applications so this is still in a proposal it's a proposal that the data act would look into issuing small contract kill switch that would enable you to stop a certain smart contract from behaving a certain way and modifying it this is not enforce it's not applicable yet it will take maybe two years before it's interforce so there is a possibility to change the European commission's law uh suggestion if you submit that through um it's called the EU survey I can send you the link and you can come with arguments why this is not really the smartest idea but it's not implemented yet uh you said that stable coins like algorithmicable coins will be in the scope of mica so if you have stable accounts which is backed by crypto and you have a protocol how you will need to comply what you need to do to basically comply if you are based in Europe so it depends on the way that you want to structure your stable coin if your stable coin is purely algorithmic then you have to apply the section that deals with crypto asset service providers in terms of authorization in terms of capital Redemption Etc if you would say that you will structure your stable coin where it's it's um has its value from a number of cryptocurrencies or crypto assets then it will fall under the asset reference tokens that has its own specific section Title II of Mika um but I think like asset reference tokens and e-money tokens have much more higher requirements compared to the crypto asset service providers into which the algorithmic stable coins will fall under and in terms of you complying with arts and etms you'd have to already be have everything in order by the 30th of June next year good news is this is now being consulted by the European banking Authority as of last week they issued three different consultation papers one of them is looking into that I can also share the link with you if you like because you have until September to submit feedback any other questions because otherwise I'm happy to take any of them bilaterally once we're outside and now I'll hand over for cryptocaps thank you so much wow no that was great so crypto pass so as Maha mentioned with AML for traditional banking to deal with crypto especially with private non-custodial wallets it's very difficult we require the kyc procedure funds ownership validation so that the screening can be done on a specific wallet and we need to know that this particular person owns this particular wallet and quite frankly there's very few financial institutions that want to go through the trouble to do this it requires tremendous resources to go through and to be compliant with all the regulations that we see that are out there and it's actually more costly not to be compliant because the fines for non-compliance for banks is huge um whoops what was that like 15 billion per year in Global costs of non-compliance funds so most banks why do they not want to deal with non-custodial wallets because the risks are so high the costs are so I mean they're just not interested there's very few Banks obviously right now that want to deal directly with crypto and unless you have a wallet that's worth hundreds of millions the banks really are not interested I mean obviously there are lawyers there's other companies that can help put together documentation to go to the banks to show that you know you have great crypto and you're a wonderful person but that costs a lot of money and for smaller transactions than for normal crypto holders that's really not an option so um so crypto pass decided to provide these non-custodial wallet holders as our first project on the app which you can download from the app store Google store which goes through a kyc procedure that you do on your app with a a funds validation so that we can actually confirm in the app that you are the holder of a specific wallet and then we do a complete AML screening um know your transaction screening and you come out of that as a pre-verified client and we can actually present you with a cryptopath certificate um and then we also started developing and you'll see in a few moments the crypto pass dashboard which is a service a B2B service for banks financial institutions vsps that they can actually go in and see all the data the raw data that we've collected on this person on their wallet so that they can do their own due diligence on this particular person and wallet um so in a moment now we're going to show you the crypto Pass App and how it works which as I mentioned is a kyc it's then a confirmation of ownership with a specific wallet and then a complete AML kyt analysis of your wallet and you can actually have a printed certificate or a digital certificate and there's different packages in the app which you can buy and pay for yourself so this is a is a product where a person a holder of crypto gets their own compliance for themselves is pre-validated and then they can present themselves as a pre-validated customer with a wallet with a certain positive risk score and they can take that and show that to a financial institution and then the second product you'll see today is the crypto pass dashboard not only is it a place where you can go in for our business clients to go into the raw data of every certificate that we issue it also allows a business customer to configure what they require in terms of the level of risk and also the different details that they require on their kyc in some jurisdictions for example you need a utility bill and others you don't in some jurisdictions you need to live a video interview with an authorized agent and others you don't so it's actually possible and you'll see in a moment to go in to set up your own um customized requirements and instead of when you actually get your crypto pass instead of having these three standard packages you'll actually have a specific demo or a specific package um that's designed by the business client you'll see how we do that in a moment um the third product is a crypto pass ID which is a subscription-based service where we continuously monitor the wallet so at any time you will be able to show your risk score in real time um let me find in fact we even have another product that they're working on right now so in order to actually show and to have a Hands-On demo of the both the certificate the process one goes through with the app that you can download and the back office I want our tours to come up and uh and demonstrate that yeah hello everybody so as I did a workshop so we should to have also some some working here so here and I will show you uh our products so as Jeffrey mentioned we have with b2c product which is already available in App Store so I'm welcome you to to download that but for those who are service providers who are business owners yeah I welcome you to scan with QR code and grab your access to our dashboard product so it's also available and we will send you the access for that so and give me a second I will do a setup for me foreign with you as a service provider should to verify with crypto user yeah for example and we will show you our infrastructure for verifying quiz users so for doing that you should to apply to our partner to become our partner and we will grant you with access for that and then you will have a possibility to create a specific project where you can send a specific link to your users to deal with these all compliance regulatory so let's let's do it together so I will create a new project thank you so to create a new project you should to fill in a project details yeah to to explain to your users why you need to verify them yeah that's why you have a specific I don't know Ico or or something yeah where you need to verify your user it's a specific project and you need to describe that for each project you will have a unique link that you can use in your communication with a client and then you need to choose where a verification level yeah we have a multiple verification levels and we can create a custom verification verification level for you right now in dashboard is available very regular verification for kyc IML and ownership where Advanced verification with video kyc and also legal person verification I will go with a standard one and here you need to fill in the contribution parties who will receive the the information about that verification and also the verification description so in fast it can look like that when you explained that you will invite user to do the verification yeah and that if user will accept that very you will receive the user details yeah and here you can also explain in in details verification process after that project is created and you have this unique link that you can share with the users oh sorry it's not the right one or Workshop demo is with one with all those details what we mentioned in in previous form yeah it's there and you also can try to scan this gear code and afterwards go through his verification and there is option that users pay for that verification you don't need to pay anything to us yeah users will pay for those verification but if it's not complied with your business model we can also switch what you will cover by verification cost it's like you can choose that and I will go deeper and will show you how is verification is working and what we are receiving in that dashboard so I'm connecting my iPhone to the screen so now you will see the screen of my iPhone and I will do the live verification so you will see how it's how we can do that so here after we're scanning quick your code user should to accept yeah your your invitation yeah and if it's acceptable then user is guided to a possibility to order you have this verification because it's costly you need to pay to all those uh providers who are verifying the user yeah that's why it's it's uh it costs some some some money for the user but you can cover these expenses as well and the users will see only that plan which which you choose in your product yeah then I will do web purchase very very fast foreign that's it it's a y one yeah I made that and now users is seeing the thank you message and he can start with verification verification is divided in three parts the first part like Jeffrey Mansion is ownership validation but we need to understand who is behind that crypto profile crypto user crypto wallet then automatically we will do the IML check of which crypto wallet and then you need to prove who are you yeah providing your information let's do it quicker so I will try to do with my one hand so I need in First Step provide my crypto wallet and I will go to trust wallet and we'll copy very ethereum wallet address so that's why I'm choosing here ethereum I will pass it here and go forward and now I need to do asatosh test Satoshi test is the simplest thing how you can verify the user behind the specific wallet yeah you need to send the specific amount of cryptocurrency to the wallet yeah and then we will try to catch this transaction and then we will say that you have a possibility to act with that wallet so I'm copying the wallet and transaction details and now transaction will appear in my trust wallet and now I can say that this transaction is made and you see now the status of these verification is in progress and our servers are catch increase transaction and then we'll we will confirm that but we can go with kyc procedure procedure and here is also a multiple steps I need to give my personal information my document do a liveness test fill all also the questionary about source of funds and also verify my phone phone number so I will try to do it quicker yeah the profile data is fill it and now I need to do the verification of my document I will also do it foreign and one more in kyc you'll also need to provide the source of font yeah so you are going to prove which is sort of font of that asset and that crypto what is on your wallet for example in my case it's a mining okay in in the end also you need to prove that you are beneficial owner of that crypto world that's it and the last step is the phone number verification and kyc is done so we need wait few seconds or minutes and our kyc provider will verify all the details and then we are possibility to Grant the crypto pass for this specific user but we will go back to the to the dashboard and we'll see what we see there so we have here a plot problem I think I miss with my birthday yeah yeah you can update that if something was wrong and then it starts again and now it's complete uh yeah and now we have possibility to generate the crypto pass yeah and we check some of these crypto paths are saved in the blockchain so anybody can easily verify all those data if they have a crypto pass and we specific blockchain transactions so it's secured by blockchain technology and we have here all the information about this wallet we have a patented technology know your wallet yeah where we are gathering where trustworthiness of a specific wallet yeah belonging to specific uh crypto user and for example in my case I'm in in the middle yeah I'm medium credibility score because this is a new wallet and not a lot of transaction there that's why I'm I'm quite yeah and also we can see IML information uh where risk indicators which I'll also say that all going to any new addresses so it's also here and also who is behind that wallet and we see that kyc status is green it means that we checked the sanction list perhaps and other stuff and let's go back to the our dashboard not with data only the fingerprint of the data let's check some because it's not correctly to store private information in the blockchain yeah but you can trust this information when you can can with this transaction to verify that yeah I can also show that we have yeah you can grab my my crypto pass and check it and we can also download vs PDF certificate which will show uh what I'm go through with verification foreign and I will go back to dashboard update to the screen and now I see that in my workshop demo I have the first successet user yeah and we have all the graphics here statuses and we can go deeper and see that all verification process is done the kyc is done ownership ML and crypto pass is graduate and we can also go deeper and check how he proves web ownership we see it was a Satoshi test we see transaction at The Versatile test address amount and also see all IML information about the specific wallet of the rescore all risk indicators and we can also download the it's not working right now okay it's normally for demo yeah but we you have possibility to download also all verification files to be compliant in your your states with with all those regulations so that's it how we are doing that so if you have any questions you can ask and we are yeah asking you to become our partner and start verifying your users using our crypto bus thank you foreign [Music] ERS because the gas cost is a 50 percent of the price of the qic yeah the Satoshi tastes like like I mentioned previously the easiest way to prove the ownership but it's it's not very like cost efficient yeah because you need to pay this gaspi yeah first of all yeah but there is other methods where we will introduce which not will not ask any additional costs for for crypto user for example message sign is also applicable but it's very hard to implement right now because for example Bitcoin wallets do not support message sign functionality only the desktop versions yeah but most popular Bitcoin wallet do not support that but and you ask also about the risk square rescore is IML risk score yeah we check your specific crypto wallet we go through all your transactions and what exactly yeah if you are new client like in in Bank also so we can trust you you are somewhere in the middle because you don't have any specific transactions yeah you may need to gather some more details to to give a proper risk scoring that's why for new wallets for new customers usually very score is somewhere in the middle yeah but I think my IML compliance team will answer better on these questions yeah but usually it's like that you know [Music] so it depending on those transactions what you have in that wallet and if you are doing the transaction with some unregular regulator entities it will appear your risk score yes so if you are making transaction with not the centralized exchange your risk score will be higher but if you are doing for example with Kraken who is regulated in Europe yeah the risko will be lower so it depends on on that entity with which you have with transactions and my question is about um the validation of the address of the wallet because you know there is a confusion between wallet address accounts in ethereum probably it's okay you validate my address which is also my account but you know in Bitcoin I do that Satoshi test then I proved that I okay I'm the owner of that particular private key but you know that uh Bitcoin wallet in principle for privacy best practice you are using many different uh addresses so you have to redo the proof many times so how it works yeah and for HD wallets which are generating for each transaction when you wallet there is like HD public key which will contain which will like collect all the details about all your wallets previous yeah and if you will make the new one it will be also connected to that stack so you not need to verify each time but but yes this is a good question yeah and so we are handling this issue right now can you elaborate on the cost a user would have to pay to kyc if I understand correctly me as an individual that wants to use an application or an exchange would have to pay so um does that mean if I wanna right now I use let's say 10 different D5 protocols would I have to pay 10 different times I don't see a future where me as an individual would have to pay wouldn't the those D5 particles take that cost yeah we think very similar yeah we want to solve that issue but you don't need to go through each time kyc when when you are joining when you uh project but regulation says that each company should do with uh kyc each time for for for them yeah because this uh verification are different for each financial institution right now you should do it's uh multiple times for for different projects but we trying to solve that and if we will see the solution we will provide that but right now it's not but if your companies are are connected somehow yeah there can be a possibility to exchange these uh verification between those companies and about the cost so it's depending on the project the business model yeah if you don't want to cover the verification cost yeah and it will not burn your conversion rate of the business then you can ask clients to pay that but if you are willing to cover that it's also possible and the price is um depending on the verification uh on the verification level now for example if you need a video kyc and in specific countries like Germany Switzerland Estonia yeah there is a necessary to do with then these costs will be a higher yeah around uh 20 or or more if it's like a regular kyc yeah it can be all only like five or till 10 euros yeah it's it depends on the verification level what you needed to be regulated if you are a bunkless can we pay the crypto card payment with uh some e es for example two uh uh if you are bankless you don't have a credit card can we pay with crypto for crypto pass right now is not an option you you need to have a credit card we we are integrated with stripe but uh in in future yeah it's depending on your projects yeah if you see that you are mostly with web free and you need a crypto payment then we can add with optional as well but right now for us we are using stripe all methods which are providing from stripe we we also provide okay thank you for the workshop uh and you have if you have any questions so come on stand across the way here we're here this afternoon tomorrow come on over and and chat if you have more questions thanks