Column 03 · Nova Observatory

Counterweight

Contrarian readings of the consensus narrative.

4 editions · weekly cadence

№ 04
19 May 2026
A. Mbaye
8 min
Why Aspora's $500M valuation isn't the model
Aspora is being celebrated as a diaspora-finance template. Its unit economics, license stack, and corridor concentration suggest otherwise.
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№ 03
12 May 2026
P. Renault
7 min
No, the BIS is not warning against stablecoins. Read it again.
The latest BIS quarterly is being cited as a stablecoin downgrade. The actual text says something narrower — and more interesting.
№ 02
5 May 2026
A. Mbaye
10 min
The "diaspora bond" revival is mostly bond-issuer marketing
Ethiopia, Kenya and Nigeria have re-floated the diaspora-bond idea this year. The 2008–2016 data set says investors do not want them.
№ 01
28 Apr 2026
P. Renault
8 min
AMF's SCPI rule is not the consumer-protection win it is being sold as
The April 2026 SCPI guidance closes one loophole and opens two. We read every paragraph so non-resident subscribers don't have to.

About this column

Signed by the named author or desk. Each edition is reviewed against Nova Observatory editorial standards. Corrections are logged with timestamp on /method.

Why Aspora's $500M valuation isn't the model

No, the BIS is not warning against stablecoins. Read it again.

The "diaspora bond" revival is mostly bond-issuer marketing

AMF's SCPI rule is not the consumer-protection win it is being sold as