Walk into any art studio and you’ll find midlife artists producing works of extraordinary beauty. But scroll through social media, and you’ll notice many of these same artists are almost invisible. The gap isn’t talent, it’s storytelling.

Social media thrives on stories. People don’t just want to see a painting; they want to know what inspired it, what the artist was feeling, and what message the work carries. Yet for many in their 40s, 50s, and beyond, writing about art feels intimidating. They excel in brushstrokes, not in typing reflections. This barrier holds back visibility, recognition, and even opportunities for sales or exhibitions.

Why storytelling matters

A painting can be beautiful on its own, but stories are what make people stop, connect, and remember. In today’s fast-moving digital world, social media isn’t a gallery wall; it’s a conversation.

When artists share the story behind their work, the spark of inspiration, the emotions they carried while creating, or the memory that shaped the colours, they invite the audience into their world. That connection builds trust, curiosity, and even loyalty.

Storytelling turns passive viewers into engaged followers. It transforms art from something nice to look at into something meaningful to feel. And for midlife artists, who often carry decades of life experience, these stories are not just promotion, they are a way of passing on wisdom and perspective.

Why AI changes the game

Here’s the shift: AI has made storytelling accessible even for those who dislike writing.

Take a painting. Snap a photo. Ask ChatGPT: “Describe this painting in the style of an art curator, but make it warm and simple.” In seconds, you have a caption ready for Instagram or Facebook.

But here’s the important part. While AI descriptions are articulate, they can feel bland without the artist’s input. The magic still lies in personal stories, the spark of inspiration, the frustration of trial and error, or the quiet joy of completion. That’s what moves audiences. AI is the assistant, not the artist.

Also Read: Singapore outsmarts the world in AI–ranked No.1 global hub

When AI analyses your art

One of the most surprising things about AI is how confidently it analyses art. You upload a photo, and suddenly it’s describing textures, emotions, and hidden meanings as if it had spent years in art school. Sometimes it gets it wonderfully right, other times it sounds like a very enthusiastic tour guide who’s had too much coffee.

I once showed an artist friend what ChatGPT “saw” in his painting. He laughed out loud and said, “That’s deeper than what I intended!” But here’s the point. Even when AI overshoots, it sparks reflection. You start to think about your own work in new ways. And that humour, that playful “Wait, is this really me?” moment, often becomes part of the story you share with your audience.

Talking instead of typing

Typing can feel like homework, especially for those of us who didn’t grow up with digital fluency. But today’s AI tools make it easy.

Instead of typing, imagine this. Open your phone’s voice-to-text function. Talk about your painting for two minutes, why you created it, what emotion it carries, or even how the colours remind you of a memory. Copy that raw text into ChatGPT and ask: “Turn this into a short, engaging post for an artist.”

Suddenly, your voice is clear and ready to share. Storytelling no longer feels like a chore. It becomes a conversation.

From struggle to step by step

There are simple ways midlife artists can begin. ChatGPT can be your friendly brainstorming partner. Talk to it the way you’d talk to a friend over coffee. Ramble, grumble, pour out your thoughts. Then ask it to help you find the main point and turn it into one short, emotional story. The more you “train” it with your stories and reflections, the more personalised it becomes, like building a creative partner who knows your voice.

You can then take your finished story and art images into CapCut, a free and simple video editor. Add captions or a voice-over, and you’ve got a polished video for social media. I often tell artists, you don’t need Hollywood production, just let your story and art shine.

Bell’s incidental art moment

My friend Bell, also 58, once noticed how rain and dust had created delicate patterns on his window. Most people would wipe it away. He stopped, looked, and saw art in that accidental design. He could explain it beautifully when speaking, how nature itself was the artist, but struggled to put it into words on paper.

That’s where AI came in. By recording his thoughts and feeding them into ChatGPT, what started as a fleeting, rambling reflection became a clear artist statement. Suddenly, his incidental encounter with nature was transformed into a story he could share with others.

Also Read: AI and the human touch: How leadership paves the way

A younger artist’s challenge

Another artist I know, in her mid-40s, faced a different challenge. She spoke only Mandarin and worried about reaching wider audiences. One day, I took a photo of her painting and showed her how ChatGPT could describe it in an artistic way. The result amazed her. It sounded polished and ready for social media.

But I reminded her of something important. AI alone cannot replace the human touch. Without her own thoughts and feelings, the description lacked soul. Once she began adding her personal story, her art posts gained emotional depth. What began as hesitation turned into excitement, because she saw that AI could support her voice, not replace it.

Both Bell and this younger artist discovered the same truth. AI isn’t just about efficiency. It’s about inclusivity. Whether you’re 58 or 45, fluent in English or not, AI levels the playing field so creativity and stories can be seen.

Why this matters beyond art

This lesson isn’t just for painters. Midlife professionals in any field, coaches, consultants, educators, face the same challenge. They carry decades of wisdom but struggle to package it for digital platforms.

AI offers a bridge. It doesn’t replace your voice, it amplifies it. By lowering the barrier to storytelling, AI helps midlifers step into visibility. Whether it’s promoting art, launching a side business, or building a professional profile, clarity is now within reach.

The mindset shift

To benefit, midlifers need to shift perspective. Stop fearing mistakes. AI is forgiving. You can refine, retry, and re-prompt until it feels right. Focus on authenticity. Don’t outsource your voice entirely, share personal sparks, and let AI polish. Experiment playfully. Start small. Try one ChatGPT post, one CapCut video. Build your comfort step by step.

Closing thought

For midlife artists and professionals, the challenge isn’t creativity, it’s clarity. Decades of experience, memories, and emotions often stay locked inside because typing feels like a wall or language feels like a barrier.

But AI has changed that. For Bell, it turned his incidental reflection on nature into a story worth sharing. For the younger artist in her 40s, it transformed a photo of her painting into a description that gave her confidence to add her own story.

This is the real gift of AI. It doesn’t just speed things up, it levels the playing field.

So here’s the takeaway. For midlifers, don’t hold back. Your story matters, and AI can help you tell it with clarity and confidence. For younger trainers and digital natives, remember that what feels easy to you is a real barrier for others. AI gives you a chance to guide, not judge, and to make creative spaces more inclusive.

Never fear. AI is here. Not to replace voices, but to translate them across age, across language, and across the invisible walls that hold creativity back.

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Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic.

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A study has revealed that air and water pollution constitute a significant share of premature deaths in major Asian economies, including India and Indonesia.

India ranks among the lowest globally on urban air quality, and severe ambient PM2.5 exposure is one of Indonesia’s leading health risks. This crisis is a top investment priority for adaptation, cited by 87 per cent of investors, says the ‘Unlocking Capital For Climate x Health: The Investment Landscape in Asia’ report prepared by AVPN and Prudence Foundation, in partnership with Catalyst Management Services (CMS).

Also Read: Unlocking climate x health capital: A data-driven blueprint for smarter impact investing

The economic impact of pollution-linked health issues is enormous. In the Philippines alone, air pollution caused 66,230 deaths per year, incurring a cost of US$44.8 billion. In India, 1.6 million deaths were attributed to air pollution in 2021.

Investment tailwinds from national programmes

Governmental commitment is driving investment opportunities through national programmes. India’s National Clean Air Programme commands approximately US$1.7 billion for implementation across 132 cities. Indonesia has also tightened its air-quality standards in 2023, signalling increased public demand and potential procurement pathways.

Investors are moving beyond traditional, capital-intensive mitigation technologies like smog towers, favouring scalable, subscription-based models.

Case study: Devic Earth’s subscription model

Devic Earth, based in India, exemplifies how a technology-driven, subscription model can succeed in this market.

• The technology: Devic Earth’s Pure Skies system utilises Radio Frequency (RF) waves to passively and efficiently clear particulate matter from the air, creating wide-area clean air zones without reliance on expensive filters or heavy infrastructure.
• The model: The company offers “clean air as a service” via subscription, with modular systems for industrial and city environments. This structure removes high upfront capital expenditure for clients and facilitates integration into ESG mandates.
• Impact: The solution has proven effective at scale. Deployment across over 40 sites by 2021 showed remarkable results, including a reduction in PM2.5 and PM10 levels by approximately 50 per cent at an ACC Cement facility in 30 days. Furthermore, during a 35,000-runner event, PM2.5 was reduced by 30 per cent, with no reported health incidents.
• Funding: Devic Earth has attracted commercial capital, raising US$2.5 million from investors including Axilor Ventures and Blue Ashva Capital.

Also Read: Investors bet on algorithms and insurance to tame Asia’s climate-health crisis

This success highlights the importance of scalable delivery over standalone technology. Distribution-focused models and policy alignment (India’s National Clean Air Programme) are being prioritised as they offer quicker adoption and clearer pathways to commercial returns.

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Despite Singapore’s ambitious climate goals under the Green Plan 2030, a recent survey by renewable electricity retailer Flo Energy reveals that cost savings remain the dominant factor driving electricity choices among small and medium enterprises (SMEs).

The findings highlight a persistent gap between the nation’s net-zero ambitions and SME adoption of green energy solutions. According to the “SME Renewable Energy Insights Survey” conducted by Flo Energy, nearly two-thirds (62 per cent) of SMEs in Singapore consider price the most crucial factor when selecting an electricity provider, while only 15 per cent prioritise sustainability.

Among those who switched providers, just 13 per cent cited environmental reasons, with most motivated by short-term incentives such as promotions or contract flexibility.

This trend underscores the enduring challenge of aligning SME behaviour with long-term environmental objectives. While over half of respondents acknowledged that sustainability is “quite important” to their broader business decisions, it remains a secondary factor in energy procurement.

“Singapore has a clear roadmap to reach net zero by 2050, but our research shows that many SMEs are still putting cost ahead of sustainability,” said Matthijs Guichelaar, CEO of Flo Energy. “The good news is that sustainability is increasingly seen as an area for improvement, which shows growing awareness and demand.”

Also Read: Air and water pollution are killing millions, but also creating new investment frontiers

Despite nearly half (45 per cent) of SMEs considering renewable energy options, awareness of tools such as Renewable Energy Certificates (RECs) remains low. Over half of all SMEs surveyed were unfamiliar with RECs–a key mechanism for tracking and verifying the use of green power. Among those who had switched retailers, awareness was higher, indicating that education and exposure play a critical role in accelerating adoption.

High upfront costs and lack of information were cited as the most significant barriers to renewable adoption, aligning with global SME trends.

Interestingly, the survey found that once SMEs are onboarded, sustainability rises in importance. It ranked second to faster service and technical support regarding improvements SMEs wanted from their current provider, suggesting growing expectations for greener practices over time.

SMEs account for over 99 per cent of businesses in Singapore and are central to the nation’s economic and environmental future. However, as highlighted in an OECD report, smaller firms often struggle with limited resources, a lack of awareness, and difficulty navigating green incentives—all of which hamper decarbonisation efforts.

This reality presents a strategic crossroads: as Singapore pushes towards net zero by 2050, SMEs will need more support and incentives to make the green shift viable.

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Image Credit: Khanh Do on Unsplash

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Asia’s pollution crisis has evolved beyond an environmental concern; it’s now a defining economic and health emergency.

According to the ‘Unlocking Capital for Climate x Health’ report by AVPN and Prudence Foundation, air and water pollution are responsible for a staggering share of premature deaths in major Asian economies. India and Indonesia, in particular, face some of the world’s worst urban air quality, where exposure to PM2.5 particles is now one of the leading premature deaths.

The economic losses are equally sobering. Air pollution costs the Philippines over US$44 billion annually, while India saw 1.6 million deaths linked to pollution in 2021. Yet amid this grim reality, investors are beginning to investment opportunities. With 87 per cent citing pollution control as a top investment priority, capital is flowing into adaptive technologies aligned with government efforts like India’s US$1.7 billion National Clean Air Programme.

Startups such as Devic Earth are showing how scalable innovation can align profit with impact. Its subscription-based “clean air as a service” model– already proven to reduce PM2.5 by up to 50 per cent in industrial settings–exemplifies how the future of climate tech in Asia will hinge less on grand infrastructure and more on accessible, replicable solutions.

REGIONAL

Singapore outsmarts the world in AI–ranked No.1 global hub: Singapore leads with 1,100 AI job openings on LinkedIn, hosts 666 AI companies listed on Crunchbase and offers ~US$123k annual salary for AI specialists. Singapore is home to three major AI institutions, including the Centre for Frontier AI Research and the NUS AI Lab.

GCash delays planned IPO to late 2026, say sources: The company had previously considered going public as early as this year, but the IPO is now expected later than anticipated as the Philippine stock market sags. GCash aims to raise between US$1B and US$1.5B, which could set a new record for the country’s largest IPO.

Superbank posts US$4.9M Q3 profit: Its net interest income rose 176% year-on-year to US$66.3M as of September 2025, while total loan disbursement climbed 84% to US$542.5M and total assets rose 70% to US$994.5M. The bank’s customer base reached 5 million since launching its digital banking app in June 2024.

Thailand-based GetLinks acquires HK edutech firm Xccelerate: The deal combines GetLinks’s AI-driven job matching tools with Xccelerate’s workforce development programmes in AI, big data, cybersecurity, and UX/UI design. This move aims to address the region’s demand for digital skills and AI-ready workers.

Sea founder Forrest Li sees US$1T valuation as possible through AI: Sea has started using AI in areas such as customer service and gaming, after making the technology a bigger priority over the past year. Li cautioned employees about potential share price volatility, referencing a previous stock drop in late 2021.

Antler backs Malaysian AI startups M3TRIQ, NCSpeech driving innovation in biotech and fintech: M3TRIQ is a biotech innovator applying AI to protein design whereas NCSpeech is a voice AI platform transforming debt recovery. Both companies exemplify how AI is reshaping traditional industries in SEA, from cellular agriculture to financial services.

Secai Marche cultivates US$6M to build a fresher, smarter food ecosystem in SEA: Investors include Kuroneko Innovation Fund II and NX Global Innovation Investment. The funds will be used to develop a real-time temperature-controlled delivery and monitoring network to minimise waste and maintain product freshness.

REPORTS, FEATURES & INTERVIEWS

Air and water pollution are killing millions, but also creating new investment frontiers: Indian startup Devic Earth exemplifies how a tech-driven, subscription model can succeed in this market. Its Pure Skies system clears PM from the air, creating wide-area clean air zones without reliance on expensive filters or heavy infra.

Inside Taiwan Innotech Expo 2025: Where AI innovation meets real-world inclusion: Taiwan Innotech Expo 2025 showcased AI innovation across accessibility, safety, and eldercare, featuring technologies from Ubestream and ITRI.

How BluMaiden uses AI to transform small-molecule drug discovery: The company has developed what it refers to as a transformative approach to small molecule drug discovery: the limited diversity of chemical compounds in traditional chemical libraries, which restricts the scope of potential drug candidates and hinders innovation in drug discovery.

INTERNATIONAL

Kakao founder acquitted of SM stock manipulation charges: Prosecutors had sought a 15-year prison sentence and a US$350,000 fine, alleging Brian Kim and associates manipulated SM’s share price during a 2023 acquisition battle with Hybe.

Japan tops in-depth AI awareness globally: survey: 53% of respondents in Japan said they have heard or read a substantial amount about the technology, according to a Pew Research Center survey. France and Germany followed closely at 52% and 51%, while the global median was 34%.

China’s generative AI user base doubles to 515M in H1 2025: This adoption rate stands at 36.5% of the country’s internet users. Most users prefer domestic AI models, with those under 40 years old making up 74.6% of the user base, and 37.5% holding a higher education degree.

S Korea’s Gmarket to invest US$492M, expand globally with Alibaba: The e-commerce platform owned by Shinsegae Group said US$350.4M will support existing sellers, while US$14M will go to new sellers and small- and medium-sized enterprises, a 50% rise from the previous year.

Startup deals hit record in Japan before listing curbs: Startup buyouts in Japan reached a record high in 2024 as anticipation of new Tokyo Stock Exchange rules and regulatory pressure prompted founders to sell instead of pursuing public listings.

SEMICONDUCTOR

OpenAI’s massive chip bet highlight aggressive strategy: OpenAI has committed to acquiring 26 gigawatts of advanced data processors from Nvidia, AMD, and Broadcom in less than a month. The ChatGPT parent, which does not expect to be profitable until 2029, is forecasting billions in losses this year despite generating about US$13B in revenue.

Nvidia launches first US-made Blackwell chip with TSMC: The Blackwell wafer will be processed at TSMC Arizona, which will manufacture advanced chips for AI, telecommunications, and high-performance computing using 2-, 3-, and 4-nanometer processes as well as A16 chips.

TSMC seeks approval to build new chip plant in Taiwan: The new semiconductor plant, the A14 fab, will focus on manufacturing high-speed wafers using the company’s 1.4-nanometer process, which promises faster computing and improved power efficiency compared to its 2nm process set for production this year.

US chip distributor Arrow to be removed from trade blacklist: The Colorado-based chip distributor faced sanctions earlier this month after the Bureau of Industry and Security linked several companies to Arrow for allegedly aiding Iranian proxies in acquiring US technology.

AI

Why your AI strategy should be less ‘iron man’ and more ‘ironing board’: For SMEs in Southeast Asia, AI’s greatest value lies not in chatbots but in back-office automation that protects human trust. It’s the boring, repetitive, and often-overlooked stuff that we can easily double-check.

Why agentic AI isn’t what the hype suggests: What we have today isn’t autonomy at all: it’s orchestration. And while orchestration can be powerful, it comes with brittleness, cost overheads, and control issues that leaders need to confront before betting their business on it.

AI revolution: Balancing human empathy and robotic efficiency in customer service: In the customer service business, every minute counts. Being able to save time to summarise a call with a customer means that an agent could take an extra call with another, ensuring they stay happy with your company’s services.

Navigating the AI revolution: An APAC perspective on workforce transformation: The APAC region’s unique characteristics position it perfectly to lead the global AI transformation. IDC projects AI spending in Asia Pacific to reach US$110B by 2028, with a 24% CAGR, underscoring the region’s commitment to future-ready workforce strategies.

Beyond the inbox: How SEA startups can drive growth with AI-powered communication: According to Stephen Hamill of 8×8, growth fuelled by AI-powered engagement will become a critical to startup communication strategies.

THOUGHT LEADERSHIP

Re-skilling Malaysia: Why the nation’s workforce transformation needs precision, not just policy: The country’s workforce faces automation risks, making data-driven, precision re-skilling through intelligent LMS platforms key to future readiness.

QR payments: Southeast Asia’s digital lifeline or just a stepping stone?: QR payments transformed financial inclusion in Southeast Asia, but security risks and perception limits may keep them a bridge technology. Trust issues, fraud risks, and its image as a “small transaction tool” may prevent QR payments from becoming the ultimate solution

Fintech growth in Asia: Why businesses should prioritise expansion in the region: The potential for fintech companies to establish themselves in Asia is significant. They can provide local businesses with accessible and affordable financial services that improve their efficiency and competitiveness in the global marketplace.

Building smarter, customer-centric businesses with integrated technology in Asia-Pacific: APAC SMEs must embrace integrated digital transformation to meet rising customer expectations and stay competitive in a fast-evolving market.

The most common supply chain threats and how to mitigate them: Suppliers, especially smaller businesses, often lack the resources and expertise to implement strong cybersecurity measures, making them prime targets for attackers seeking to infiltrate larger, well-protected organisations.

AI as a question of national security and independence: Guardrails that govern AI reasoning and transparency matter, but without control over infrastructure and assets, those guardrails could be changed or removed by foreign entities.

US$25 billion lost: Crypto’s deepfake defence is failing: The rise of deepfakes has exposed vulnerabilities in traditional security systems, particularly those reliant on outdated KYC and anti-fraud measures. As these defences struggle to keep pace, tokenised identity emerges as a powerful solution.

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There’s nothing quite like a story with a surprising twist, and the real purpose behind stablecoin regulation is one that few saw coming.

President Trump signed the GENIUS Act in July 2025, establishing strict requirements for stablecoins to maintain “one-to-one” backing with low-risk liquid assets, including US dollars and short-term Treasury securities. It was the codification of an elegant financial strategy that de facto channels trillions of dollars in stablecoin reserves into American government assets.

Sounds like an easy US$2 trillion, right?

Today’s stablecoin market is estimated at approximately US$250 billion, with a significant portion of these reserves already invested in US Treasury bonds and repo operations. Tether, the largest stablecoin issuer, reports holding around US$120 billion in American government bonds. This genuinely places a private company among the largest holders of US debt alongside nations – for comparison, Germany holds approximately US$111 billion.

But it’s not just about current volumes. Analysts suggest that under favourable regulatory conditions, the stablecoin market could grow to US$2 trillion in the coming years. Put another way, this represents the US potentially selling trillions of its debt in the form of Treasuries to the rest of the world—with US-backed stablecoins serving as the top salesman. If this trend continues, stablecoins could become one of the largest classes of US debt holders, essentially transforming global digital payments into an automatic US debt financing mechanism.

The mechanics work simply: every USDT or USDC issued must be backed by assets, a significant portion of which consists of American government bonds. Every cross-border payment, every DeFi transaction indirectly supports demand for US debt instruments.

The global chessboard: Nations and financial self-interest

From my travels across Asia, where Venom Foundation works with various digital asset market participants, I see a twist in the story because the geopolitical implications are evident. It’s no longer academics waxing lyrical about ‘what to do’. It’s strategic government planning offices and central bank think tanks executing policy.

China is actively exploring yuan-backed digital currency possibilities. The People’s Bank of China has expanded digital yuan pilot programs and is studying mechanisms to reduce dependence on dollar-based payment systems in international trade.

Also Read: Stablecoins could unlock US$6.2T for ASEAN SMEs: Metacomp study

Hong Kong virtual asset regulators are in high gear working relentlessly with precision. Including, but not limited to creating a regulatory environment friendly to US dollar alternative stablecoins and asset classes.

The European Union, which has been gradually developing the digital euro, now has new momentum and funding which also involves policies to adopt non-US dollar digital currencies.

Various Asian jurisdictions are experimenting with national digital currencies. Singapore, Malaysia, Thailand, and other countries are exploring regional payment systems less dependent on dollar instruments.Digital financial infrastructure must be built domestically to ensure long-term economic autonomy.

While Western media discuss regulatory aspects, real changes are happening in trade corridors and payment systems. Through Venom Foundation’s engagement with SE Asia governments on blockchain, we observe firsthand how nations are prioritising technological sovereignty alongside financial independence.

While specific forecasts of mass deposit outflows vary, the trend is clear: stablecoins create alternative channels for storing and transferring value, bypassing the traditional banking system.

This isn’t an ideological choice, but pragmatic preparation for a changing financial landscape.

Once upon a time: There was a world reserve currency

A 2024 IMF Working Paper titled “Did the US Really Grow Out of Its World War II Debt?” by Julien Acalin and Laurence M. Ball challenges the common narrative that America simply “grew out” of its wartime debt burden. While the paper contains several nuanced arguments, one key point stands out: “surprise inflation” played a crucial role in debt reduction.

Once bitten, twice shy — every country and central bank is acutely aware of this history. As the US debt burden continues to grow with no signs of fiscal austerity, the only viable exit strategy appears to be more of the same monetary policy, with the ultimate price being paid by those holding US debt in the form of bonds and treasuries.

This historical context makes the current shift in central bank behavior appear entirely rational. For the first time since 1996, foreign central banks hold more gold than US treasuries. The remarkable pace at which central banks have been accumulating gold over the past decade represents a trend that shows no signs of slowing, according to sentiment expressed by central bankers worldwide.

Also Read: How stablecoins are quietly reinventing the global dollar system

The USD remains deeply entrenched in the global financial plumbing and will not be displaced anytime soon. However, clear signals indicate that nations are considering reducing their reliance on the USD as their settlement instrument of choice, shifting toward alternative methods such as gold as a neutral reserve asset.

When we layer blockchain infrastructure for settlement and payments over this geopolitical landscape and add regulatory compliance frameworks, we find ourselves staring at the dawn of a new global financial infrastructure. This transformation mirrors how the eurodollar system evolved during the early 1950s, but with exponentially faster implementation timelines.

But the kingdom needed a new ledger

Post-World War II, the Marshall Plan served as a catalyst for creating the colossal eurodollar system. These offshore bank liabilities have grown to several trillions of dollars and become mission-critical to the world’s financial system. The eurodollar is often misunderstood as a US Federal Reserve-controlled monetary system, but the reality is that no single entity controls it. History demonstrates mankind’s remarkable creativity – the eurodollar emerged through unspoken consensus since 1945, facilitating global trade when centralised financial systems proved inadequate for worldwide economic expansion.

Today, the US dollar is used in approximately 80 per cent of global trade payments and settlements, yet the US contributes only about 16 per cent of global manufacturing output. Meanwhile, China’s manufacturing output represents around 30 per cent of global production, but its currency accounts for merely five per cent of international trade flows. This glaring mismatch between economic activity and financial representation, combined with the immense friction of the banking system, is why the kingdom needs a shiny new ledger.

The incentives for other countries to develop their own digital currency systems is reaching an apex. For emerging market nations, the situation proves particularly complex. States already experiencing difficulties accessing dollar liquidity now face the prospect that even their digital payment infrastructure may reinforce dollar dependence rather than provide alternatives.

However, technological solutions for viable alternatives do exist. Successful experiments with regional digital currencies demonstrate that with sufficient political will and technical infrastructure, effective non-dollar payment systems can indeed be created.

A thousand ledgers bloom

We stand at the dawn of the protocol age in an exponential world of technological advancement. Unlike the eurodollar system, which required 75 years to fully develop, this new financial infrastructure will emerge with blinding speed. The incentives driving this transformation aren’t measured in hundreds of millions or even billions, but in trillions of dollars. When national self-interest combines with monetary sovereignty and cutting-edge technology, the pace of change becomes unprecedented.

This new ledger represents a multitude of interconnected ledgers, each communicating and settling with others in ways that create genuine alternatives to existing monopolistic systems.

Also Read: Stablecoins and Singapore: The path to mainstream adoption

Let the games begin!

The GENIUS Act has become an important symbol of a new era when digital currencies are explicitly recognised as instruments of state economic policy. By making this connection, America has accelerated a process whereby every major economy must now define its comprehensive digital currency strategy.

The United States made the right decision for its immediate self-interest. However, the outcome likely won’t unfold as many pundits predict. Rather than a straightforward channeling of global stablecoin reserves into American debt instruments, we’re witnessing the activation of unprecedented competitive dynamics – it’s “GAME ON” in the truest sense of global financial rivalry.

The era when digital currencies were considered mere technological experiments has definitively ended. For those building tomorrow’s financial infrastructure, this creates extraordinary opportunities in our rapidly evolving multipolar digital world. 

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Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic.

Enjoyed this read? Don’t miss out on the next insight. Join our WhatsApp channel for real-time drops.

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Marketers have heard it all before. New platforms. New promises to fix fragmentation. Yet most end up as another dashboard with a bigger bill.

That is why scepticism around the term Marketing OS is fair. After years of CRMs, CMSs, and every flavour of automation tool, it is natural to see it as just another label. But this time, the shift is bigger than branding.

A Marketing OS is not a rebrand. It is a rethink. Instead of patching over fragmentation, it creates a system built for connection between tools, teams, strategy, and execution. It is not a response to complexity. It is a plan to outpace it.

The stack is no longer a strategy

Over the past decade, the marketing technology landscape has exploded with over 14,000 tools, each promising optimisation, personalisation, or automation.

Yet most teams still copy and paste campaigns across tabs, juggle disconnected tools, and sync spreadsheets that no one really owns. What was meant to simplify ended up splintering workflows even further.

Research shows the cracks are widening. Nearly half of all martech investments go unused according to Harvard Business Review. Deloitte’s 2024 CMO Survey found that only 24 percent of CMOs believe their stack directly drives growth. Accenture reports that many teams now spend more time managing tools than doing actual marketing.

The old model has run its course.

The human cost of fragmentation

The problem is not only technical. It is human. Marketers spend hours each week stitching together insights from platforms that do not talk to each other. Campaigns stall because creative sits in one system, targeting in another, and reporting in yet another.

It is a familiar cycle of duplicate work, missed deadlines, and a creeping sense that the technology designed to accelerate marketing has instead slowed it down. When teams are already stretched thin, this burden becomes more than an inconvenience. It is lost momentum and ultimately lost revenue.

Also Read: Embracing AI’s promise: Navigating the future of marketing

What is a marketing OS?

It is not another point solution. It is an operating model that connects strategy, content, channels, and performance in one coordinated flow.

Think of it as the layer that turns marketing from a collection of apps into a functioning system. You set the goal, and the OS activates the plan, powered by agentic AI that does not just analyse but acts.

This is not automation. This is orchestration. Real time, goal driven, adaptive. A system where teams are no longer stuck stitching tools together, but actually moving forward.

From dashboards to decisions

The most common complaint from CMOs today is not lack of data. It is lack of action. Dashboards proliferate, but decisions get slower.

That is the shift a Marketing OS promises. It moves from being a system of record to a system of execution. Instead of another dashboard to stare at, the OS connects inputs to outputs. Campaigns launch faster, optimisations happen in real time, and learnings feed directly back into the system.

The term operating system matters here. It is not about replacing every app. It is about providing the connective tissue that allows them to work together.

Why now?

The timing is not accidental. Several industry forces are colliding.

AI has matured, but adoption has not. Everest Group describes agentic AI as the new operating system for execution rather than just ideas. Yet MIT Sloan shows that most AI projects still fail because they are bolted onto outdated workflows. Without systems to embed intelligence, AI becomes another bolt on, not a breakthrough.

Unified teams are growing faster. Boston Consulting Group found that companies bringing data, content, and delivery together grow nearly three times faster than peers. But most marketing organisations still operate in silos, with creative, data, and performance each running their own stack.

Also Read: Building brand visibility: Timeless content marketing principles for startups

Efficiency has become strategy. Budgets are tightening while expectations around personalisation climb. CMOs are increasingly judged not by activity but by revenue contribution. A fragmented stack simply cannot keep up.

In other words, the shift is no longer optional. It is already underway.

This is not a hype cycle — it is an operating model

Skeptics are right to worry that the phrase Marketing OS will be overused. Inevitably, some vendors will attach the label to dashboards or data layers. That always happens when language runs ahead of infrastructure.

But the underlying reality is clear. Marketing has changed. Campaigns are omni-channel by default. Buyers expect personalisation at speed. And the cost of inefficiency, from double work to disconnected tools, is higher than ever.

The Marketing OS is not about adding more tools. It is about changing the way teams work. It is about spending less time managing technology and more time moving ideas into market.

From concept to practice

The vision of a Marketing OS is not about any single vendor or platform. It reflects a broader industry shift toward systems that are interoperable by design, agentic at the core, and capable of orchestrating strategy through to execution.

Across the market, we are seeing solutions move beyond static dashboards and siloed apps toward architectures where assets, data, and campaigns operate in sync. Instead of treating files as storage items, they become live components. Instead of stitching together spreadsheets, content connects directly to channels. And instead of reporting after the fact, intelligence is embedded into workflows so optimisation happens in real time.

This evolution is less about replacing tools than about rethinking how they work together. The Marketing OS represents that next step: a connected foundation where technology finally supports the way modern teams actually operate.

Final thought

Hype is what we call things that overpromise and underdeliver. But if your stack feels like a puzzle made from five different sets, you already know the problem the Marketing OS is solving.

This is not a rename. It is a rethink. Not more tools, but a better way of working. One campaign, one team, one operating system at a time.

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I was sitting with a founder in Singapore last month who had just rolled out a generative AI assistant into their fintech product. They were proud of their “Responsible AI” page, complete with a model card, an explainability statement, and a glossy diagram about bias mitigation. But then they said something that caught me off guard:

“Users still don’t trust it. They open it, play for 10 seconds, and switch it off.”

And there it was — the core tension. We think we can explain our way into trust. But in practice, no amount of words will save a user who feels powerless.

This is where I take a contrarian stance: Trust is not a document. Trust is a design choice that gives users the ability to change outcomes.

Let’s unpack this through a story arc — from tension, to examples, to lessons learned, and finally to a guiding principle.

Act one: The illusion of transparency

In Southeast Asia, AI adoption is booming — from ride-hailing to e-commerce to digital banking. Companies are racing to launch AI-enabled features, but the trust playbook still looks like 2018: privacy policies, explainers, and “we take your data seriously” banners.

Take a look at major platforms’ trust dashboards: they are informative, yes, but fundamentally static. They tell users what has been done, not what can be undone.

And users are savvy. They’re less impressed by paragraphs of compliance language and more interested in the one question that matters:

“What happens when the AI gets it wrong — and what can I do about it?”

This is the gap few startups address — and where the opportunity lies.

Act two: A marketplace learns the hard way

Consider Southeast Asia’s bustling peer-to-peer marketplaces. Platforms like Carousell have invested heavily in scam detection, behavioral analysis, and community education campaigns. In 2024, they even published a regional scam trends report and multi-layered security updates to show transparency.

Yet long-time users still push for stronger verification, escrow payments, and platform-level guarantees.

The lesson? Disclosure is not enough. People don’t just want to know there’s a risk; they want to shift that risk away from themselves.

The contrarian move is to treat risk-shifting as a product feature. Build escrow into the workflow — like Carousell Protection’s rollout — show transaction risk scores, and set a clear “platform eats the loss if…” rule. Suddenly, trust becomes something users can spend.

Also Read: Southeast Asia’s trade future: Powered by tech, trust, and regional unity

Act three: Regulation as a product spec

Startups often view regulation as a hurdle. In reality, in Southeast Asia it can be your design brief.

Singapore’s Model AI Governance Framework and its new Generative AI consultation draft are explicit: operationalise accountability, test for safety, be explainable. Indonesia’s PDP Law, Thailand’s PDPA, and Malaysia’s 2024 amendments all tighten cross-border data requirements.

Instead of treating these as compliance checklists, turn them into architectural features:

• Data locality tiers: keep “must-stay” data in-region with edge inference, while allowing “can-mirror” data to sync globally.
• Consent receipts: issue machine-readable receipts for every transfer, so users can see and revoke.
• Cross-border off-switch: design for a one-week pivot to local storage if adequacy rules change.

This is not hypothetical. ASEAN regulators are moving from principles to testable standards, such as Singapore’s AI Verify framework — a world-first testing toolkit. Designing for “provability” is how you future-proof trust.

Act four: Limits, ladders, and graceful failure

Telling users “the model may be wrong” is a disclaimer. Giving them a ladder out of a bad decision is trust.

Think of three concrete product choices:

• Graceful degradation: If your model confidence is low, switch to human review or rules-based logic — and show that fallback state.
• Appeal & reversal SLA: Make appealing a wrong decision a two-tap process, and commit to a resolution time. If you’re wrong, compensate automatically.
• Evidence kits: Pre-pack the screenshots and logs a user needs to challenge a decision — don’t make them guess.

These are not just good UX; they are the new trust currency.

Act five: The hidden risk — consent debt

Here’s a concept that doesn’t get enough airtime: consent debt.

Just like tech debt, you accrue consent debt when you quietly expand data usage without granular, revocable permissions. Training on support chats, using personal data for look-alike models, or merging datasets across business units — all build silent liability.

In SEA, where trust in digital platforms can flip quickly and policy moves fast, consent debt is not just a PR risk — it’s existential. The antidote is a Consent Ledger per user:

• Show what data you hold, what model it trains, and what purpose it serves.
• Allow purpose-scoped revocation (“Use my data for personalisation, but not training”).
• Publish a quarterly data use changelog users can actually read.

Do this before regulators force you to — and you turn trust into a competitive moat.

Act six: What makes SEA unique

Unlike the US or EU, Southeast Asia is a patchwork of regulatory environments and cultural norms:

• Policy heterogeneity: You need switchable privacy modes, not one global setting.
• Messaging-first commerce: Trust is often mediated through WhatsApp, LINE, or Telegram, so verification and decision-summaries must travel across chat apps.
• Localised moderation norms: Global one-size policies fail; you need language- and culture-specific model adapters to avoid political or cultural backlash.

Startups that build with these factors in mind will not only comply but resonate with users in a region where trust is as much about face as it is about function.

Also Read: Building trust in the age of AI: Lessons for Southeast Asia’s startups

Act seven: The guiding principle

After dozens of conversations with founders, regulators, and users, I keep coming back to one principle:

Trust must be actionable.

If a reasonable user cannot change the outcome of an AI decision, you haven’t built a trust feature — you’ve built a brochure.

The metric that matters is not “number of users who viewed our policy page.” It’s median time from user appeal to resolution with restitution.

When startups measure and optimise that, they do more than comply — they set the tone for what trustworthy AI feels like. And in a region as dynamic as Southeast Asia, that could be the edge that keeps your product in play when the next wave of AI regulation — or public backlash — hits.

Your turn

If you launched your AI feature tomorrow, would your users have the power to undo, appeal, or reverse a decision — or would they just be left reading a policy page?

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Supply chain cyberattacks remain a significant challenge in 2025. The 2024 BCI Supply Chain Resilience Report revealed that nearly 80 per cent of organisations experienced disruptions in their supply chains, while 34 per cent of respondents reported a cyberattack as a cause of the disruption. Threat actors increasingly target suppliers and third-party vendors to breach larger organisations, with financial service providers at the top of the target list.

Recently, more than 11,000 customer information from DBS and the Bank of China were compromised by a cybersecurity attack on their printing vendor. These attacks exploit vulnerabilities in interconnected systems, creating a ripple effect that broadly disrupts operations. Financial losses, reputational harm, and potential legal repercussions are just some of the outcomes. 

The growing complexity of supply chains only amplifies the risks, making proactive measures more critical than ever. Suppliers, especially smaller businesses, often lack the resources and expertise to implement strong cybersecurity measures, making them prime targets for attackers seeking to infiltrate larger, well-protected organisations.

Understanding the most common supply chain threats and adopting strategies to mitigate them is essential for safeguarding business operations and data integrity. 

Why are supply chains so vulnerable? 

The primary reason supply chains are exploited for cyberattacks is the disparity in cybersecurity levels between large enterprises and their suppliers. Smaller suppliers often operate with limited resources, focusing on operational performance metrics like rapid delivery times or cost efficiencies, unintentionally sidelining cybersecurity considerations.  

This is a problem, as while businesses keep increasingly relying on third-party software solutions and digital services, vulnerabilities in digital supply chains have emerged as a critical risk factor. Like their physical counterparts, software supply chains consist of multiple tiers of suppliers, often involving complex interdependencies, including open-source software libraries, cloud infrastructure, SaaS applications, authentication services, and security tools. Vulnerabilities can emerge at any tier, whether through unpatched code, misconfigured cloud storage, or compromised third-party IT services, creating significant security risks. 

Also Read: How tech startups can transform the supply chain in Southeast Asia 

This complexity is a key challenge, as mapping the components beyond first-tier suppliers is difficult, yet vulnerabilities often originate from lower-tier ones. Hence why attackers exploit these blind spots, leveraging security weaknesses in lower-tier modules to gain access to broader systems. Vulnerabilities like Log4j  show how a single weak link can expose entire ecosystems, making supply chain security a critical priority. 

One of the most notable global supply chain cyberattacks occurred in 2020 with the SolarWinds incident. SolarWinds, a provider of IT infrastructure management tools, became the target of state-sponsored cybercriminals who compromised its widely used Orion software. The attackers inserted malicious code into a routine software update, which was then deployed by unsuspecting customers.

SolarWinds reported that in all, this breach impacted approximately 18,000 organisations worldwide. The list of affected organisations includes U.S. federal agencies, state and local governments, and major corporations, exposing sensitive data and systems to unauthorised access. 

Supply chain risks 

Supply chain cyber risks come in many forms. Whether it’s ransomware, data theft, or fraud, attackers exploit vulnerabilities in suppliers, partners, and even open-source code to breach networks. Examples like SolarWinds or the breach of 3CX illustrate how widespread and damaging these attacks can be.

Additionally, sophisticated methods such as business email compromise (BEC) and credential theft demonstrate the lengths threat actors will go to infiltrate supply chains. Even trusted partners like managed service providers (MSPs) are not immune, as cybercriminals recognise that compromising a single MSP can open the door to numerous downstream targets. 

Other risks include: 

• Software vulnerabilities 

Digital risks such as zero-day exploits, or other software vulnerabilities create potential entry points for cybercriminals, leading to threats such as ransomware attacks, malware infections, data breaches, process disruptions or intellectual property theft, among others. 

• Supplier fraud 

Supplier fraud, or vendor fraud, is another rising threat. For instance, business email compromise (BEC) attacks often involve fraudsters impersonating suppliers to trick clients into transferring funds. Attackers typically hijack email accounts and send fake invoices with altered payment details, exploiting trust within supply chain relationships.

Fraudsters also increasingly employ sophisticated social engineering techniques, including AI-generated voicemails, and deepfake videos, making these attacks challenging to detect.  

• Data security 

Data protection remains a critical concern within supply chain security. Ensuring data integrity requires robust encryption practices and access restrictions, particularly for third-party integrations.

Since third-party vendors often have access to sensitive data to some extent, such encryption safeguards are essential to prevent cybercriminals from exploiting these connections. This can go a long way toward preventing large-scale incidents such as data breaches.  

Also Read: Why it is imperative to invest in digitalising the supply chain

How to mitigate supply chain risks? 

To address these threats, businesses of all sizes must make supply chain security a cornerstone of their cybersecurity strategies.  

Effective software security begins with a clear understanding of an organisation’s digital assets and rigorous due diligence when onboarding new suppliers. Maintaining an up-to-date inventory of all open-source and proprietary tools in use is essential for ensuring visibility across the software ecosystem. By employing tools like software composition analysis (SCA) and ensuring timely patching of vulnerabilities, businesses can guard against the hidden dangers within widely used components.

Organisations should remain vigilant for known vulnerabilities and apply patches promptly, recognising that concerns about malicious updates should not delay critical software maintenance. Moreover, breaches affecting third-party software vendors require careful attention, as they can ripple through and impact operations. 

Systems should also be regularly audited to identify and eliminate redundant or outdated services, protocols, or tools that could pose security risks. When partnering with software suppliers, it is crucial to assess their risk profiles by examining their security practices. Organisations should also establish clear security requirements for vendors, including regular code audits, robust change control procedures, and stringent security checks for code components. 

Additional measures include requesting penetration tests to uncover vulnerabilities in critical software, strengthening safeguards by enforcing strict access controls, and implementing multi-factor authentication (MFA) to secure development processes and build pipelines. Finally, deploying multi-layered security software is recommended to ensure comprehensive protection across the organisation’s infrastructure. 

These measures, coupled with clearly defined policies and regular communication with suppliers, lay the groundwork for a resilient supply chain. 

Emerging best practices 

As the threat landscape evolves, so too must supply chain security practices. Government agencies and industry organisations have introduced frameworks to guide businesses in managing supply chain cybersecurity. For example, the National Institute of Standards and Technology’s (NIST’s) Cybersecurity Supply Chain Risk Management framework offers a systematic approach to assessing and mitigating risks. 

Also Read: The digital revolution in supply chain management: Efficiency, visibility, and resilience

Beyond technical tools, a cultural shift is required. Supply chain managers must integrate cybersecurity into their supplier selection processes and foster continuous development of suppliers’ security capabilities. This approach ensures that cybersecurity becomes an integral part of supply chain management, much like quality control or sustainability efforts. 

The path forward 

Supply chain cyberattacks are not going away. In fact, they are expected to increase as attackers exploit the growing complexity and interconnectivity of modern supply chains. With more than 70 per cent of Singapore organisations negatively impacted by a cybersecurity breach within their supply chain, there is no time to wait in implementing cybersecurity solutions.

By adopting a prevention-first approach that combines technological tools, rigorous supplier management, and a commitment to continuous improvement, organisations can significantly reduce their exposure to these threats. In an era where the weakest link can compromise an entire ecosystem, supply chain security must be a priority for every business leader. 

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In this, part two of a four-part series, we’ll explore how SEA’s SME sector is primed for ETA to take place. Over US$1 trillion in family business assets will transfer in the coming years, yet the second generation increasingly chooses other careers over inheriting traditional enterprises.

These deals are also typically too small for private equity players and banks to support. Search funds uniquely solve both problems at once, providing transition capital to the region’s most vital yet overlooked economic engine, right as the first post-independence generation reaches retirement.

If you missed part 1, please find it here. 

The SME powerhouse: The engine of ASEAN economies

The economic landscape of Southeast Asia is overwhelmingly defined by the scale and significance of its SMEs. SMEs are not merely a part of the region’s economy; they are its primary engine. There are 70 million SMEs across SEA, compared to approximately 14 thousand funded startups.

SMEs constitute over 97 per cent of all business establishments, hire 85 per cent of the workforce, and contribute to over 40 per cent of SEA’s GDP, highlighting their foundational role in the economic structure of every SEA state. In a mature hub like Singapore, SMEs employ over 70 per cent of the workforce, underscoring their critical importance even in the most developed economies.

This economic backbone is dynamic and evolving. Spurred by the COVID-19 pandemic, SMEs across the region have accelerated their adoption of digital technologies, embracing e-commerce, productivity and fintech solutions at an unprecedented rate. This digital transformation is supported by increasingly sophisticated government policies aimed at enhancing SME competitiveness through improved access to finance, technology, and entrepreneurial education.

This confluence of factors creates a fertile ground for the ETA model: a vast landscape of fundamentally important businesses that are simultaneously becoming more resilient, more digitally savvy, and more open to the strategic and operational improvements that a new generation of leadership can provide.

A looming crisis, a golden opportunity: The great generational handover

However, beneath the surface of SEA’s vibrant SME sector, a profound demographic and cultural shift is creating both a looming succession crisis and a golden opportunity for the ETA model. The region is on the cusp of one of the largest intergenerational wealth transfers in its history, with estimates suggesting that over US$1 trillion in family business assets will transition to the next generation in Asia in the coming years.

Also Read: The new succession: Charting the rise of Entrepreneurship Through Acquisition (ETA) in SEA – Part 1

However, this transition is far from guaranteed. Historically, the odds of a successful handover are long; studies show that only 30 per cent of family businesses survive to the second generation, with a mere 12 per cent making it to the third. In SEA, this statistical challenge is compounded by a widening cultural and aspirational gap between generations.

Many of the region’s SMEs were built by first-generation founders who are now nearing retirement age. These entrepreneurs often came from humble beginnings often lacking better alternatives and forged their businesses through immense hardship, instilling a set of values and expectations that may not resonate with their successors.

The next generation, often raised in relative affluence and educated at reputable universities at home or abroad, frequently want different career aspirations. They may be drawn to exciting careers in technology, finance, or consulting, or they may wish to start their own ventures rather than take over a traditional family business.

Some also wish to pursue alternative careers in music or academia. This generational disconnect creates a growing pool of “orphan businesses”: profitable, stable, and respected companies but no clear successor to carry them forward, following the path of other aging societies like Japan and Hong Kong. 

Not just only a succession: Challenges faced by SMEs in SEA

The challenges facing SMEs in this region extend far beyond succession planning. Through extensive research with various stakeholders conducted by GenCap, we’ve identified several critical issues threatening the viability of these businesses.

• Lagging digitalisation: While COVID-19 accelerated technology adoption globally, SMEs in this region continue to lag significantly behind. Limited digital literacy, constrained financial resources, and inadequate infrastructure have left them at a considerable disadvantage, not only against larger, more technologically sophisticated corporations, but also compared to their Western counterparts.
• Rising operating costs: Unlike larger players who can leverage economies of scale or negotiate favorable supplier terms, SMEs face an impossible dilemma. They must either pass cost increases to customers and risk losing competitiveness, or absorb the losses and jeopardise their survival.
• Talent acquisition challenges: SMEs are fighting a losing battle for talent against multinational corporations and well-funded startups that offer superior compensation, comprehensive benefits, and clear career trajectories. This challenge is often compounded by the companies’ reluctance to invest adequately in employee development and competitive compensation packages.
• Limited international expansion: Complex export procedures, insufficient market knowledge, and difficulty meeting international standards restrict SMEs’ ability to compete globally. The absence of established networks and strategic partnerships further constrains their access to more lucrative international opportunities.

Also Read: Asia’s climate-health crisis deepens amid massive funding gaps

The real challenge isn’t simply succession; it’s about transforming these businesses through renewed leadership, professionalised management teams, stronger governance frameworks, and strategic technology adoption that can help offset rising operational costs and unlock sustainable growth.

Taking on new challenges: How search funds fill the market gap

These challenges are made more acute by a persistent gap in the region’s capital markets. While private capital investment in SEA has seen a significant boom, with deal value reaching a high of US$34 billion in 2022, this flood of capital rarely reaches the SME sector.

Private equity with their larger overheads are typically structured to pursue larger transactions while venture capital invests in high-growth, often pre-profitability, technology startups, leaving the vast majority of established, profitable SMEs outside their investment mandate. In almost all the LOIs that GenCap has issued, we are practically the only party issuing these LOIs. 

Simultaneously, traditional financing routes remain constrained as banks tend to lend to larger corporate clients which are more profitable. Bank lending growth has been insufficient to meet the needs of the SME sector, with a remarkable 70 per cent of SMEs in Southeast Asia reporting that they rely on personal savings or financial support from family and friends to fund their businesses.

As such, there are hundreds of thousands of healthy, cash-flow-positive businesses that are too small for institutional private equity but too large and complex for most individuals to acquire on their own. Search funds are uniquely and perfectly positioned to fill this capital chasm.

By targeting companies in this underserved segment, typically with enterprise values between US$5 million and US$30 million, search funds bring both professional management talent and structured, patient capital to a vital part of the economy that is critically overlooked by other investors. Most importantly, search funds come with a new CEO with a fresh vision that can unlock their next phase of growth.

The case for ETA in Southeast Asia is compelling in theory. But who’s actually doing it? And more importantly, what does success look like? In Part three, we’ll move from “why” to “how”, examining the early movers who are proving the model works in Southeast Asia, with the different search fund operators already on the ground, the investors backing them, and the specific types of deals they’re pursuing.

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Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic.

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In the current macroeconomic landscape of October 2025, the world finds itself in a precarious balancing act between fading momentum in major economies and the uncertain ripple effects of fiscal and monetary policy shifts. With the United States in the midst of a federal government shutdown that began on October 1, the usual flow of official economic data has been disrupted, leaving market participants increasingly reliant on private-sector indicators.

Among these, the flash Purchasing Managers’ Index (PMI) readings for October have assumed outsized importance. Scheduled for release during the week of October 20 across all major developed economies, these preliminary surveys offer the earliest glimpse into whether the modest growth seen in September can be sustained or whether deeper structural weaknesses are emerging.

The United States, long the standout performer among advanced economies, now faces growing scrutiny over the durability of its expansion. Although the Federal Open Market Committee delivered its first interest rate cut of the year in September, hopes that this would catalyse a renewed upswing are tempered by underlying vulnerabilities. The boost from tariff front-running appears to be waning, and growth remains disproportionately concentrated in financial services and technology sectors.

Compounding the uncertainty is the delayed release of official inflation data. The September Consumer Price Index (CPI), originally due earlier in October, is now expected on October 24, with forecasts pointing to a rise from 2.9 per cent to 3.1 per cent. However, recent PMI data have shown some easing in tariff-related cost pressures, suggesting that if this trend continues into October, it could presage a moderation in headline inflation in the months ahead.

Meanwhile, Europe presents a mixed picture. The eurozone recorded its fastest pace of business activity growth in 16 months in September, a promising signal that the bloc may be regaining some traction. Yet this momentum must be weighed against significant political headwinds, most notably the ongoing crisis in France, which risks undermining consumer and business confidence. In Germany, there is cautious optimism that fiscal measures could stimulate domestic demand, but the net effect on regional growth remains to be seen. The UK, for its part, is navigating a fragile recovery.

September’s PMI data indicated that the economic upturn had nearly stalled, accompanied by substantial job losses. On the inflation front, there is a glimmer of hope. Survey-based measures of price growth have moderated compared to the first half of the year, which should translate into softer official CPI figures in the coming months. Nevertheless, the August CPI reading stood at 3.8 per cent, with core inflation at 3.6 per cent, both well above the Bank of England’s two per cent target, leaving policymakers in a difficult position.

Also Read: AI still missing in action: Global firms lag in using tech for M&A and compliance

In Asia, mainland China’s economic slowdown has become more pronounced. According to a Reuters consensus, third-quarter GDP growth is expected to have decelerated to 4.8 per cent year-over-year, down from 5.2 per cent in the second quarter. This marks the weakest pace of expansion in a year, driven by a persistent property sector slump, ongoing trade tensions, and tepid domestic demand. The data underscores the challenges Beijing faces in meeting its full-year growth target of “around five per cent” and intensifies calls for more aggressive stimulus measures.

Against this complex macro backdrop, the cryptocurrency market has exhibited a characteristic blend of volatility and forward-looking speculation. Over the past 24 hours, the market has risen by 2.82 per cent, a rebound that appears to be fuelled more by anticipation than by concrete developments.

A key driver of this optimism is the positioning ahead of the delayed US CPI release. Traders are betting on a softer-than-expected inflation print, which could bolster the case for further Federal Reserve rate cuts and create a more favourable environment for risk assets. This sentiment is reflected in Bitcoin’s rising correlation with gold, which has climbed to +0.35, signalling a shared role as a safe-haven asset amidst geopolitical uncertainty.

A significant structural catalyst has also emerged from Japan. The country’s Financial Services Agency has proposed a landmark regulatory shift that would allow banks to hold and trade cryptocurrencies. This move, which follows initiatives like Mitsubishi UFJ’s stablecoin project, represents a major step toward mainstream institutional adoption.

Given Japan’s banking sector manages assets worth approximately US$5 trillion, this regulatory pivot could unlock a vast new pool of capital for the crypto ecosystem. This potential is further amplified by the yen’s persistent weakness, having depreciated by nine per cent against the US dollar year-to-date, which incentivises Japanese investors to seek alternative stores of value.

However, the market’s fragility is laid bare by the dynamics of leveraged trading. CoinGlass data reveals that over US$510 million in Bitcoin short positions are clustered above the US$112,000 price level, creating the potential for a powerful short squeeze if the price can sustain a breakout.

Also Read: Risk-off ripples: Trade fears, rate cuts, and a crypto sell-off collide

While funding rates have turned slightly positive, indicating renewed interest from leveraged longs, this optimism is counterbalanced by a stark reality. Spot Bitcoin ETFs in the United States experienced a staggering $1.23 billion in net outflows during the week ending October 17, the second-largest weekly outflow in history. This persistent capital flight from the most regulated and institutional-facing segment of the market suggests a deep-seated caution among traditional investors.

Sentiment indicators further validate this caution. The Crypto Fear & Greed Index currently sits at 30, firmly in the “Fear” territory. This level of anxiety, combined with the massive ETF outflows, acts as a powerful counterweight to the bullish narratives. The market is at a critical juncture.

A successful hold above US$110,000, followed by a break above the US$112,000 liquidation cluster, could trigger a powerful short squeeze and reignite a broader rally. Conversely, a failure to maintain this level could quickly reverse the recent gains and re-ignite the month-to-date downtrend, which currently stands at -7.1 per cent.

In conclusion, the current market environment is defined by a tension between hopeful macro speculation and sobering on-chain and fund flow realities. The flash PMI data will be a crucial barometer for the health of the real economy, while the delayed US CPI will be the immediate trigger for market direction.

Japan’s regulatory overture offers a long-term structural tailwind, but in the short term, the crypto market’s fate appears to hinge on the interplay between Fed policy expectations and the willingness of institutional capital to return to the space. Until the fear dissipates and ETF outflows reverse, any rally is likely to remain fragile and vulnerable to sharp corrections.

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Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic.

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