 So first we have started by defining what we meant by stablecoins and we ask a number of stablecoin providers in the world to have a diversity of solutions to present their stablecoin solution to build a collection of a large number of use cases. And then we came up with a very simple definition for a stablecoin. Then we wrote in a report that's going to be public soon, which is that the fact that a stablecoin is a coin, so one unit of an asset whose value is stable relative to a reference. And this reference could be units of another asset, like fiat money for example, or a basket of assets, a basket of fiat money, but also it could be more abstract. For example, it could be stable with regard to purchasing power. And so the notion of fiat money here wouldn't be present. And so there is a big difference between what regulators call payment stablecoins, which are so linked to fiat money that should be put in a reserve, and other types of stablecoins, which are stable with regard to another reference, like for example purchasing power. After then, once we define what we meant by stablecoins, so we reviewed all the different use cases that were submitted. So actually we had stablecoins that were backed by one single currency, fiat money, like for example the euro, for example the luge, by Casino Group in France on the Tezos blockchain, or the VCAD backed by Canadian dollars by StableCorp on Algorand blockchain. We had also basket of currencies, so we reviewed the very famous Libra project that was launched as an association in Geneva. And then in the initial project Libra, it was meant to be a basket of fiat monies, selected fiat monies of different countries. But unfortunately, regulators were not so happy with this proposal, and now Libra changed its name from Libra to DM. And this is only backed by dollar, and it is based in the US for a start. We had also, for example, a provider called Globecoin with a basket of fiat money plus gold, but the goal here was to be stable with regard to purchasing power. So we had really a good number of stablecoins of different types, and the final type that is very also different, because it's not backed by reserve of fiat money, was what we called the algorithmic stablecoins. And we reviewed, for example, one project which is quite well known, which is called the Ample Trust. So we had a very good number of use cases. And then at the end, now, once we know the definition, we know the use cases, now what we are looking at the stablecoin working group is the issue of interoperability between all these different stablecoins. Yes, so clearly interoperability will work better if there is a standard, right? Because this standard will be recognized internationally. And then these different providers of stablecoins use and comply with this standard, for example, from the ITU. Then of course, the factor, it will be more interoperable because this is a standard which is already built at an international level. After, so there are still some securities issues of these stablecoins, for example, when there is a project which is backed by a reserve of fiat money. The question is that are we really sure that this reserve exists, that the entity that is providing the stablecoin has enough fiat money and related assets to cover the number of stablecoins that they create. And so at the moment, it's not really automated. There are some audits that are done. But the question is that we are looking at, how could we automate secure auditing to be sure that even if they are connected with other stablecoins thanks to interoperability, that all of them have a good trust level and with strong security as well as for the reserves that they have. And in order not to impact other stablecoins or even the users of their stablecoins.