This story is quite interesting. In the crypto venture capital world, native VCs like Paradigm mainly focus on how impressive the technology is. But VCs from traditional finance, like Franklin D. Roosevelt, have a completely different approach—they look at whether the business can be closed-looped and profitable.

Franklin D. Roosevelt has issued several billion dollars worth of money market funds on-chain, but they encountered a tricky problem: their investment in APRO was not a spur-of-the-moment decision but part of a long-planned "supply chain control" strategy.

**Where's the problem?**

Existing oracle solutions, like Chainlink, are essentially API data transporters. They work fine for on-chain applications but fall apart when faced with the strict requirements of traditional finance.

The first pitfall: data format mismatch. Bank statements and custodial audit reports are PDFs or even Excel sheets. Chainlink can only read numerical data from API interfaces; it can't handle PDF files.

The second pitfall: privacy issues. If assets reserves are to be verified on-chain, the underlying holdings details must be disclosed. But Wall Street folks absolutely can't stand this—if business secrets leak, competitors can exploit them instantly.

**Why did APRO win?**

APRO was able to secure Franklin D. Roosevelt's investment because it solved these two pain points.

They are not just simple data transporters but true Oracle 3.0—capable of handling unstructured data (like PDFs and Excel files) and performing compliant verification through privacy-preserving computation (FHE technology) without exposing specific data.

From Franklin D. Roosevelt's perspective, this is like designing a "compliant data pipeline" for their future trillion-dollar RWA empire. They are not betting on APRO becoming popular but are building infrastructure for their entire ecosystem.

This is the real gameplay of traditional finance playing in crypto: not chasing hot trends but controlling the lifeblood.