TSO

TriSourceObserve

Slow journalism for technology, industry, and capital.

Stories

Capital Flow

Shows how policy, balance sheets, market structure, and investor expectations transmit change across industries.

AllMacro InsightsCorporate StrategyFinTech & Future AssetsSector Deep-dive
TSO / High confidence
Capital FlowFinTech & Future Assets

The Global Exploration Status of Central Bank Digital Currencies (CBDC): From Pilot to Geopolitical Game

Around the world, central bank digital currencies (CBDCs) are moving from concept exploration to practical piloting. Although three countries (Bahamas, Jamaica, Nigeria) have fully launched CBDCs, the number of CBDC projects being actively explored globally continues to climb, especially in emerging markets and BRICS countries. Different economies have adopted differentiated strategies; developed economies tend to be cautious, while emerging markets are accelerating their development in response to stablecoins. At the same time, the challenges facing CBDCs include financial system risk, cybersecurity, and the construction of complex regulatory frameworks, posing new geopolitical considerations for national security and monetary sovereignty.

Nov 6, 2026
Read analysis
TSO / High confidence
Capital FlowFinTech & Future Assets

Compliance New Frontiers: From Understanding Customers to Understanding Agents

This article, based on Adil Khan's views, elaborates on the new phase in the compliance field driven by AI technology, shifting from "knowing the customer" to "knowing the agent." It emphasizes that in AI-driven customer interactions, institutions need to deeply understand the agent's permissions, data usage, and potential risks, while pointing out that data quality, cross-institutional collaboration, and AI governance are key to addressing new challenges like fraud and synthetic identity.

Oct 30, 2026
Read analysis
TSO / High confidence
Capital FlowFinTech & Future Assets

Fintech Innovation, Blockchain, and DeFi: How They Reshape Market Architecture: The Third Edition from the Perspective of Financial Markets and Institutions

This paper is based on the content of the 13th edition of "Financial Markets and Institutions," exploring how financial technology innovation, blockchain technology, decentralized finance (DeFi), and environmental, social, and governance (ESG) factors jointly reshape the current financial market structure. The study focuses on how these emerging technologies are changing the modes of market operation.

Oct 30, 2026
Read analysis
TSO / High confidence
Capital FlowFinTech & Future Assets

South Korea pushes digital asset framework law, accelerating regulation of KRW-backed stablecoins and Bitcoin ETFs

The "2026 Second Half Economic Growth Strategy" plan announced by the South Korean Ministry of Economy and Finance aims to enact the Digital Asset Framework Act within this year, which is intended to accelerate the institutionalization process of stablecoins pegged to the Korean won and Bitcoin spot ETFs through this act, while also exploring innovative areas such as government bond tokenization, carbon market applications, and national asset frameworks.

Oct 16, 2026
Read analysis
TSO / High confidence
Capital FlowFinTech & Future Assets

Overview of Indonesian Fintech Law and Regulation: Regulatory Trends in Digital Payments, Crypto Assets, and DeFi

Indonesia is undergoing strong fintech development, with major driving forces including its large population, high internet penetration, and the government's economic recovery plans. The report points out that digital payments, P2P lending, and insurtech are the most active areas currently. In the crypto asset sector, regulation has shifted from Bappebti to OJK, but certain forms of DeFi (such as DeFi payments) are explicitly prohibited. For financing, equity financing is the main avenue for new businesses to raise funds.

Oct 16, 2026
Read analysis