OKX has successfully obtained a Payments Institution (PI) license ahead of the new EU regulations taking effect in March of this year. This reflects our strategy of serving the European market since OKX's inception. From advanced tools like Spot Margin to user-friendly products like OKX Earn, and convenient payment services like OKX Card & Pay, our strategy has always been to build a platform that truly serves European users and meets European standards at scale. However, scaling requires robustness, and robustness requires a license. The acquisition of the Malta Payments Institution license enhances our ability to support stablecoin-related payment services and fully complies with MiCA and PSD2 requirements, while also reinforcing our commitment to excellent governance, consumer protection, and operational efficiency. For users, most importantly, everything remains the same. You will continue to enjoy a seamless trading, profit-making, and payment experience, now protected by a stronger regulatory foundation. For our team, this is another significant milestone in building a digital asset infrastructure that can compete with traditional financial institutions. Europe is a key market for digital assets, and we are committed to long-term growth. This is another important step we are taking toward this goal.