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Research on where financial infrastructure is going

Long-form analysis from the jStack research team on agentic finance, settlement, modular architecture and the regulation shaping them.

Featured · Agentic Finance

The Agentic Economy: How Autonomous Systems Will Transact

Autonomous software is beginning to initiate payments, hold value and negotiate terms on behalf of people and businesses. This paper examines the identity, authorization and settlement infrastructure that machine-initiated commerce requires, and what financial institutions should put in place before that volume arrives.

38 pages · August 12, 2026

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4 papers

Infrastructure

Modular Financial Infrastructure: Replacing the Monolith Gradually

Core replacement programmes are long, expensive and frequently abandoned. This paper argues for an incremental model in which new product lines run on modular infrastructure alongside the existing core, and examines how institutions sequence that migration.

29 pages · June 18, 2026

Stablecoins

Stablecoins in Institutional Settlement

An assessment of where stablecoin rails materially change settlement economics, where they do not, and the controls institutions need before routing production volume through them.

24 pages · May 7, 2026

Payments

The State of Payment Orchestration

How multi-provider payment architectures have evolved, what routing sophistication actually delivers, and how institutions should measure orchestration performance.

31 pages · March 24, 2026

Regulation

Regulatory Readiness for Digital Finance Platforms

A framework for mapping product behaviour to regulatory obligations, and for building reporting and audit capability into infrastructure rather than around it.

26 pages · January 29, 2026

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