Day to day, we work with real-world-asset owners to tokenize collateral and build trading infrastructure in a regulatory compliant way. Swarm is the first organization in the world to offer tokenized US Treasury bills and public stocks that are tradable on a regulated and decentralized platform. SwarmX, the issuing entity, acquires publicly-traded securities, which are then established as the underlying assets to the on-chain tokens. These assets are held by institutional custodians.