Crypto enthusiast and XRP supporter Levi Rietveld shared a post and video covering the Senate vote on the CBDC restriction. The video shows the final approval and emphasizes the legislation’s impact.

He sees this as a positive development for XRP because private-sector digital payment solutions remain essential to U.S. financial infrastructure and can replace a Government-issued product.

BOOOOOOOOOOMMMMM!!!!!

UNITED STATES SENATE PASSED THE BILL TO BAN THE FED FROM CREATING A CENTRAL BANK DIGITAL CURRENCY UNTIL 2030!!!!

THIS IS A MASSIVE WIN FOR #XRP!!! pic.twitter.com/FViYySgNc5

— Levi | Crypto Crusaders (@LeviRietveld) April 6, 2026

Understanding H.R. 6644 and H.R. 7147

The outcome involves two key bills: H.R. 6644 and H.R. 7147. H.R. 6644, a Financial Services and Housing bill, passed the House in May 2024, and the Senate approved an amended version on March 12, 2026. It included language restricting the Federal Reserve from issuing a retail CBDC without Congressional approval. This bill established the policy framework guiding the restriction.

H.R. 7147, the Homeland Security Appropriations Act, served as the funding vehicle enforcing the restriction. The House passed it in January 2026, and the Senate passed the amended version on March 27, 2026.

Through its funding provisions, the Federal Reserve cannot use resources to develop or deploy a retail CBDC until the fiscal year 2030. This effectively bans CBDC until 2030, cited by analysts and enthusiasts.

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How the Ban Benefits XRP

These bills strengthen XRP’s position. Banks and payment networks must rely on private infrastructure to handle rapid, low-cost digital settlements. XRP’s function as a bridge asset aligns directly with these needs, enabling efficient liquidity to flow across networks.

The restriction may influence XRP’s market performance. Without competition from a U.S. retail CBDC, XRP could see higher institutional adoption, leading to increased transaction volumes. Morgan Creek Capital Management’s CEO recently weighed in on the CBDC discussion, suggesting that XRP could play that role or serve as a base layer for national banking.

The CBDC ban creates a clear window for XRP to expand its role in global finance. As financial institutions seek efficient settlement options, XRP can provide faster cross-border transactions while reducing operational costs. Greater adoption by banks and payment providers could increase demand for XRP, strengthening its liquidity and market presence. These potentially increase its price.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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In his post, Abs quoted Yusko as saying, “There is some talk that $XRP could be utilized and or ordered to be used for a central bank digital currency or as the base layer for national banking.”

The tweet included a video clip of Yusko, the founder, chief investment officer, and managing director of Morgan Creek Capital Management, elaborating on potential legislative developments and the evolving digital asset landscape.

Abs’s post primarily highlighted Yusko’s suggestion that XRP could play a role in national-level financial infrastructure, a comment that stands out given Yusko’s well-known support for Bitcoin.

“There is some talk that $XRP could be utilized and or ordered to be used for a central bank digital currency or as the base layer for national banking” – @MarkYusko https://t.co/9Ktm0ihfwf pic.twitter.com/a1P4ScvWg4

— Good Evening Crypto (@AbsGEC) February 10, 2026

Yusko Discusses Legislative Outlook and Digital Asset Expansion

In the attached video, Yusko began by addressing what he described as a likely piece of legislation, while noting that there has been discussion about expanding beyond Bitcoin to include other digital assets such as XRP, Cardano, and Hedera. He stated, “The one piece of legislation that is likely to happen… there’s a lot of talk that they’ll expand beyond just Bitcoin to now, you know, XRP and Cardano and Hedera.”

Yusko also remarked that certain founders have been engaging with members of the administration and referenced Eric, saying, “And I think Eric’s driving a lot of this, his son. So we’ll see.” While he did not provide specific legislative details, his comments suggested that digital asset policy discussions may not be limited to Bitcoin alone.

He reaffirmed his view of Bitcoin as “digital gold,” adding that other digital assets serve different purposes. He then introduced the possibility that XRP could have a distinct function within the financial system. According to Yusko, “There is some talk that XRP could be utilized and or ordered to be used for a central bank digital currency, or as the base layer for national banking.”

Yusko clarified that he was not certain such a development would occur, stating, “I don’t know if it’ll happen or not, but that’s one that if that does happen, that changes things.” His comments stopped short of making a prediction, instead emphasizing that discussions are reportedly taking place.

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Community Reaction to the Statement

Abs’ tweet also drew a notable response from X user GigaChadRizzGod, who wrote, “Mark Yusko (BTC maxi) saying XRP could be national banking base layer? That’s not hopium — that’s elite-level breadcrumbs XRP army, we eating soon or what?”

The reaction reflects the significance some XRP community members attach to Yusko’s remarks, particularly given his longstanding association with Bitcoin-focused investment strategies.

The idea that XRP could be considered for use in a central bank digital currency system or as foundational infrastructure for national banking represents a notable departure from narratives that center exclusively on Bitcoin reserve.

At this stage, Yusko’s comments remain speculative and framed as “some talk” rather than confirmed policy direction. However, the fact that a prominent investment executive mentioned such a possibility has added a new dimension to ongoing conversations about the future role of digital assets in government and banking systems.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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CryptoTank (@Tank2033js), a crypto researcher and investor, has weighed in on this question, explaining why XRP is the best option for banks, and why they will choose it over other digital assets.

Competition Among Banks

CryptoTank noted that banks operate in a highly competitive environment. Smaller banks vie for customers and market share against financial giants such as J.P. Morgan and Bank of America. If these smaller institutions were to adopt a digital token or CBDC issued by a larger competitor, they would inadvertently grant a competitive advantage to that rival.

As CryptoTank explained, accepting a competitor’s digital token could lead to the larger bank setting the terms of its issuance and usage, potentially squeezing out smaller players.

The Need for Liquidity

Banks are in dire need of easily accessible, cost-effective liquidity with minimal friction. The current system, predominantly facilitated by SWIFT, falls short in this regard.

Established in the 1970s, CryptoTank noted that SWIFT is plagued by inefficiencies, including high costs, significant friction, and a failure rate of 6-8% for daily transactions. He pointed out that the modern financial system aims to enable seamless movement of value, a goal that SWIFT is increasingly ill-equipped to meet.

The Role of a Neutral Bridge Currency

A neutral bridge currency is critical for facilitating the smooth transfer of value globally. As documented by the Bank for International Settlements (BIS), the International Monetary Fund (IMF), and the World Economic Forum (WEF), such a currency would help banks free up Nostro Vostro accounts, minimize friction, and reduce transaction failures. Notably, XRP has been highlighted by the World Bank for this role.

XRP can act as this neutral bridge currency, as it is designed to move large amounts of value quickly and at a low cost, addressing the liquidity and efficiency challenges faced by banks.

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Ripple’s Strategic Position

Ripple has been at the forefront of developing the infrastructure for the new financial system for over a decade. The company has established partnerships with more than 30 central banks worldwide and collaborates closely with major financial institutions.

Some proponents argue that Stellar’s XLM could serve a similar role to XRP. Although XLM has its benefits, it was designed for peer-to-peer transactions and financial inclusion, rather than the large-scale value transfers that XRP facilitates. XRP’s unique utility lies in its ability to handle massive transactions efficiently, making it the preferred choice for institutional use.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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In a recent clip from an interview shared on X, Ripple CEO Brad Garlinghouse revealed that the company has secured partnerships with ten governments to leverage Ripple’s blockchain technology for their CBDC initiatives.

Read Also: Ripple Officially Unveils Its Stablecoin Name, States Launch Timeline

This strategic move positions Ripple as a key player in shaping the future of digital central banking systems, to enhance global financial security and efficiency.

Ripple’s robust blockchain platform forms the foundation of these collaborations. By implementing Ripple’s solutions, these ten nations aim to streamline cross-border transactions, bolster financial transparency, and optimize the overall operational efficiency of their financial sectors.

This initiative reflects a broader trend of financial institutions worldwide embracing digitalization to achieve faster and more secure transaction mechanisms.

Ripple’s Expanding Global Reach 

A recent example of Ripple’s growing global influence is its collaboration with the National Bank of Georgia to spearhead its digital economic initiatives.  Furthermore, Ripple boasts partnerships with many Japanese banks for blockchain payment solutions.

The company’s active involvement in CBDC pilot programs in countries like Colombia, Bhutan, Palau, and Montenegro further underscores its comprehensive approach to global digital transformation within central banking.

Looking beyond CBDC development, Ripple is venturing into the stablecoin market with the introduction of Ripple USD (RLUSD), unveiled at the XRPL Apex Summit.

This stablecoin initiative is more significant because Garlinghouse pointed out that a CBDC and a stablecoin are essentially the same. The difference, according to Garlinghouse, is the issuer. Stablecoins and CBDCs are pegged to an existing asset, to facilitate faster and cheaper transactions using the stablecoin.

Notably, RLUSD will be available on the XRP Ledger and Ethereum (ETH) blockchains, facilitating wider adoption across various platforms. This dual availability is expected to attract a broader user base, encompassing blockchain enthusiasts and financial professionals seeking dependable digital transaction options.

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Read Also: Ripple’s Choice Name For Underway Stablecoin Emerges, XRP Army Reacts

XRP and RLUSD on the XRPL

Ripple Chief Technology Officer (CTO) David Schwartz has also explained the roles of XRP and RLUSD on XRPL, and he emphasized that the stablecoin would not diminish XRP’s role in the ecosystem.

This strategic launch positions Ripple to capture a larger market share, potentially attracting new demographics while solidifying its standing within the existing blockchain community.

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His comments, made during a recent interview with Der Aktionär, have sparked debate and renewed interest in the future of XRP.

Read Also: Ripple Unveils 8 Nations Building Central Bank Digital Currencies (CBDCs) on XRP Ledger

Michel’s core argument centers on XRP’s ability to streamline cross-border payments. He criticizes traditional methods, highlighting the involvement of multiple institutions, lengthy processing times, and high fees associated with currency conversions.

Michel presents Ripple’s creation of XRP as a solution to these issues. He outlines a scenario where a euro payment from Germany to the US would be converted into XRP at minimal cost by the sending bank. This XRP would then be efficiently converted back to dollars by the receiving bank, ensuring faster and cheaper delivery of funds.

THE FIRST TIME EVER THAT I HAVE HEARD ANYONE CLAIMING AT THE FRANKFURT STOCK EXCHANGE IN GERMANY THAT #XRP COULD BE A "WORLD RESERVE BRIDGE CURRENCY" AS SOON AS CENTRAL BANKS WILL IMPLEMENT #CBDCs

SOURCE: https://t.co/qoWEbj9vX7 https://t.co/R2DIBfeDiX pic.twitter.com/GcJ6FHurQA

— XRP DROPZ (@DROPZXRP) February 26, 2024

CBDCs and the Bridge Currency

The interview delves deeper into XRP’s potential role in a future shaped by central bank digital currencies (CBDCs). As central banks face pressure to implement CBDCs, Michel sees Ripple’s bridge technology as crucial for facilitating connections between them.

While there are competitors like JPMorgan’s coin, Michel stresses XRP’s ‘first mover’ advantage. If Ripple maintains its current pace of innovation, Michel believes XRP could emerge as the world reserve bridge currency.

Michel’s vision provides an optimistic outlook for XRP. However, it’s crucial to note that the journey to widespread adoption remains challenging. There are many regulatory uncertainties, legal battles, and competitive threats from established players and emerging technologies.

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Read Also: 76% of Global Financial Institutions Will Use Crypto in 2025, Ripple Forecasts 

Engaging in Informed Discussion

The debate about XRP’s potential as a world reserve bridge currency will no doubt continue. Investors and enthusiasts alike are urged to do their homework, understand the risks involved, and refrain from investing purely based on optimistic predictions.

Whether XRP can indeed bridge the gap between its current status and Michel’s ambitious vision remains to be seen. Nonetheless, Michel’s input adds to the ongoing discourse about XRP’s place in the evolving global financial landscape.

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CBDCs or Other layer-1 Blockchains

In the opening argument, Aj acknowledged Cardano’s extensive community and the project’s passionate supporters, making it difficult to criticize. He stated that he’s a member of Cardano’s passionate community and he had met with Charles Hoskinson and talked about the project. He said, “It’s hard to hate on Cardano.”

Read Also: CryptoCapitalVenture Founder States Why Those Leaving Cardano Will Regret in the Long Run

However, Aj argued that Cardano’s primary threat is other layer-1 blockchains. Comparing the crypto world to other companies, Aj likened Ethereum to Nike, the largest shoe company in the world. He highlighted that Cardano is ranked 9th with an $8.5 billion market cap while Ethereum, its main competitor, is ranked 2nd with over $188 billion. This shows that Cardano has a long way to go.

Cardano RED ALERT (Biggest THREAT to your $ADA Bags!) https://t.co/Vch4EojD3W

— Ben Armstrong (@BenArmstrongsX) October 18, 2023

Ben Armstrong’s Counterpoint

Armstrong offered a different viewpoint, stating that Solana was the bigger threat among the layer-2 blockchains. However, he argues that there’s a threat outside the blockchain ecosystem. He cited the founder of Cardano, Charles Hoskinson, who expressed indifference towards other blockchain projects like Algorand, Ethereum, XRP, and Solana.

According to Armstrong, Hoskinson is more concerned about the threats posed by tech giants like Google. In addition to this, Armstrong argued that CBDCs are not only a threat to Cardano but also to the entire cryptocurrency ecosystem due to their impact on individual freedoms and privacy.

He states that he wants to completely remove himself from the banking system so he’ll never have to touch CBDCs when they start being used.

Read Also: Charles Hoskinson: Our Challenge Is For Cardano (ADA) to Become Biggest Crypto

CBDCs Not a Direct Threat?

Aj responded to Armstrong’s concerns about CBDCs by highlighting that they do not present a specific threat to Cardano, especially since they are not live yet. Although Armstrong described them as “inevitable,” Aj emphasized the lack of empirical data to suggest how CBDCs might impact cryptocurrencies and whether they will replace stablecoins or coexist with them.

Aj maintained that Ethereum remains the most substantial threat to Cardano due to its valuation and adoption lead, stating that for Cardano to surpass Ethereum in market cap, it would need to grow by 21x.

The argument continues with each person going into detail and presenting strong points backing their arguments. However, ChatGPT recently picked Cardano as one of its top three cryptocurrencies to buy and hold. Although the competition is steep, Cardano could surprise its detractors. Also, be reminded to do your own research (DYOR) before investing in any crypto asset

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The National Bank of Georgia (NBG) has taken a significant step in its digital GEL pilot project. Antony Welfare, a CBDC advisor at Ripple, shared this announcement with the XRP community on X.

NBG selected Ripple and eight other companies for potential collaboration in the second phase of their CBDC project. This news comes just over a month after Ripple revealed eight countries that were building CBDCs on XRP Ledger (XRPL).

Great to be part of the next stage of the Pilot Project of the National Bank of Georgia Digital Lari project

"The digital GEL project is entering a new stage. In order to test the technological capabilities of the Central Bank Digital Currency (CBDC) system and identify possible…

— Antony Welfare (@AntonyWelfare) September 28, 2023

Read Also: Over 15% of Countries in the World Are in Discussion to Use Ripple CBDC Platform

The NBG’s CBDC Project

NBG is introducing a Limited Access Live Pilot Environment to rigorously test the CBDC system’s technology capabilities and potential application areas through real-world use cases.

After an extensive research phase and meticulous evaluation, NBG has shortlisted nine companies that have demonstrated sufficient technological potential and maturity, capacity, relevant experience, and a strong desire to be part of this project.

What makes Ripple’s selection significant is the company’s reputation for pushing the boundaries of blockchain technology and its extensive experience in facilitating cross-border payments and financial solutions.

Ripple’s blockchain-based platform has already gained recognition for its speed, security, and cost-effectiveness, making it a natural fit for the evolving landscape of central bank digital currencies.

In its official announcement, the NBG stated that it is not committed to any specific approach. They are open to all technological solutions, and this project could be a massive opportunity for Ripple to showcase its expertise.

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Read Also: Digital Euro Association Applauds Ripple’s Membership in Mastercard CBDC Program

After the selection stage, the National Bank of Georgia will choose a single technology partner. This partner will play a pivotal role in advancing the CBDC project into the pilot stage, where the CBDC platform will be tested in a limited-time, real-world environment.

This rigorous testing phase will showcase the technological prowess of the chosen partner and evaluate the practical use cases of the CBDC, potentially reshaping the future of digital currencies in Georgia.

In a world where digital currencies are gaining prominence, the National Bank of Georgia’s decision to collaborate with Ripple underscores the significance of Ripple’s mastery in the blockchain industry. There has also been an interesting prediction for the price of XRP as a CBDC pilot, and it might be on the path to achieving that.

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A CBDC is a Central Bank Digital Currency, which works as a digital form of fiat currency. They work like cryptocurrencies but they are centralized because they are issued by the Central Bank and controlled by the government. Another key difference is that CBDCs have a fixed value equivalent to the country’s fiat currency.

#XRP was designed to settle CBDC's! There are not enough XRPz out there to brige all the money at a price of $10. XRP at $10'000+ is a logical conclusion

— Lord XRP (@Bitforcoinz) September 2, 2023

Read Also: Analyst Lists 3 Events to Cause Another Massive XRP Price Uptrend, Ripple CTO Recently Hinted at Number 3

Lord XRP’s post stirred some reactions within the XRP community. CBDCs are considered faster and more secure than traditional systems but face interoperability issues. The analyst sees XRP as a solution because it’s designed for cross-border settlements.

The World Economic Forum picked XRP and JPM Coin as the most relevant crypto assets for wholesale CBDC in its CBDC Policy Maker Toolkit from 2020. Ripple’s On-Demand Liquidity (ODL) is also seen as a solution to the interoperability problem. Banks adopting ODL is one of the events that can drive up the price of XRP, which supports Lord XRP’s belief.

However, the main point made by Lord XRP centers on XRP’s supply. If used for CBDC transactions, there aren’t enough tokens to bridge all the money at $10, according to Lord XRP. As its 100 billion token supply would be insufficient, scarce supply could drive up XRP’s price, with $10,000 as a logical price point.

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Read Also: XRP Lawsuit: Ex-SEC Official Debates SEC’s Chances in the Proposed Interlocutory Appeal

The Community Reacts

This bold prediction has brought some skepticism from the XRP community. One user suggested that the speed of the transactions could make up for the short supply. With 3 seconds for each transaction, he pointed out that one token could be used repeatedly. He said the price doesn’t have to be that high.

Another user replied, suggesting we temper our expectations. According to the user, reaching that point would mean everything from property to bushels of grain would have to be tokenized. He suggested a conservative price of $100 to avoid disappointment.

This prediction of $10,000 or more due to the current XRP supply also somewhat corresponds with a recent prediction saying $500 would be too small based on the projection of $250 trillion for cross-border payments in 2027.

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XRP’s Crucial Role in Financial Ecosystem

At its core, XRP was designed with a critical purpose: to serve as a bridge for central bank digital currencies (CBDCs). As the world steadily moves towards widespread digital financial systems, the relevance of CBDCs continues to grow.

Read Also: Over 15% of Countries in the World Are in Discussion to Use Ripple CBDC Platform

This necessitates the presence of a bridge currency that enables efficient and rapid settlements, which is where XRP could unleash its rare use cases.

While there are 100 billion XRP in total supply, it’s important to consider the vast scope of XRP’s role as a bridge currency for global CBDC transactions. This seemingly significant number pales in comparison when tasked with facilitating the entirety of the world’s CBDC-related transactions.

This is the very point a pseudonymous XRP-centric analyst, Lord XRP, attempted to make clear in a tweet on September 2nd.

According to the analyst, XRP was specifically created to serve as a bridge currency for CBDCs. Although XRP currently trades at around $0.5, he said a $10 XRP price won’t be enough to bridge all the available money. This is why he concluded that $10,000 and higher prices are possible when XRP starts to fulfill the purpose of its emergence.

#XRP was designed to settle CBDC's! There are not enough XRPz out there to brige all the money at a price of $10. XRP at $10'000+ is a logical conclusion

— Lord XRP (@Bitforcoinz) September 2, 2023

The Need for Higher Liquidity

To handle the immense volume of transactions that accompanies a highly interconnected digital financial system, XRP must possess substantial liquidity. A price point of merely $10 per XRP falls drastically short of providing the necessary liquidity.

However, envisioning a future where XRP is valued at $10,000 or more cultivates an environment where this bridge currency can effectively meet the liquidity demands of a vast and interconnected financial ecosystem.

Read Also: Ripple Unveils 8 Nations Building Central Bank Digital Currencies (CBDCs) on XRP Ledger

Foundationally Grounded Potential

It’s crucial to note that the argument for a $10,000+ XRP isn’t a baseless assumption but instead stems from its fundamental purpose. As countries embrace and experiment with CBDCs, the need for a highly liquid bridge currency grows more pronounced. In this regard, XRP’s unique design and purpose position it as a prime candidate to fulfill this vital role.

According to the analyst in the tweet captioned earlier, amidst the ever-transforming world of digital finance, it would be premature to dismiss the possibility of XRP surpassing the $10,000 mark.

As CBDCs continue to gain traction among the world’s central banks, the demand for a highly liquid bridge currency will intensify. In this context, XRP, with its distinct attributes and purpose, emerges as a compelling contender to meet the needs of a rapidly evolving financial landscape.

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The DEA, consisting of key industry players like Ripple and Fluency, proudly announced the participation of its member firms as pioneers in Mastercard’s CBDC Partner Program. The association aims to enhance awareness and promote the safe implementation of CBDCs. Their recent tweet expressed their enthusiasm regarding this collaboration.

Read Also: Mastercard’s Vice President of Product Refers to Ripple as Partner for Payments With Digital Assets

DEA tweeted, “Excited to announce DEA Members Fluency Ripple as pioneers in Mastercard’s CBDC Partner Program to enhance CBDC awareness & safe implementation.”

Excited to announce DEA Members @fluencycbdc & @Ripple as pioneers in @Mastercard's CBDC Partner Program, to enhance #CBDC awareness & safe implementation. https://t.co/TUBRmmuaGy

— Digital Euro Association (@DigiEuro) August 24, 2023

The XRP community was particularly thrilled with the DEA’s acknowledgment of Ripple’s involvement in Mastercard’s CBDC program. This development signals a significant step forward for Ripple, considering its recent alliances within the financial industry.

Mastercard’s CBDC Program

Mastercard recently highlighted the growing momentum behind Central Bank Digital Currencies (CBDCs). While banking regulators’ efforts may not have attracted significant public interest so far, Mastercard acknowledges that the discussion around CBDCs is gaining traction. In fact, 93% of central banks worldwide are currently involved in various stages of CBDC development, with four retail CBDCs already operational.

Jesse McWaters, Mastercard’s global regulatory advocator, emphasized the importance of addressing numerous inquiries surrounding CBDC implementation. These inquiries include considerations of the private sector’s involvement, as well as concerns regarding security and privacy.

In response, Mastercard introduced the CBDC Partner Program, inviting leading firms in the crypto space. The primary goals of the program are to improve understanding of CBDC advantages and limitations while devising a secure, streamlined implementation strategy.

Read Also: Ripple’s CBDC Proposed Solution Adopted in the 2022 G20 TechSprint CBDC Challenge: Details

Ripple’s Participation in Mastercard CBDC Partner Program

Mastercard identified Ripple, along with Giesecke+Devrient, Fluency, Consensys, Consult Hyperion, Fireblocks, and Idemia, as inaugural partners in their CBDC Partner Program.

Ripple’s endeavors extend beyond this program, as they take part in building government-backed national stablecoins with the Republic of Palau, Hong Kong, Russia, Montenegro, Bhutan, and Colombia. This recognition highlights Ripple’s significant presence and influence in the CBDC space.

Overall, the DEA’s celebration of Ripple’s membership in Mastercard’s CBDC program has generated excitement and raised awareness of the ongoing developments in the digital currency landscape. The collaboration between Ripple and Mastercard, alongside other prominent crypto firms, aims to lay the groundwork for a safe and effective implementation of CBDCs.

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