You can read more about our event in Canberra here: theairwallexeconomy.substack…

I hope @eglyman and @karimatiyeh are asking themselves if they are comfortable with politically connected investors in their company using a founder’s Chinese ethnicity and national-security as weapons against a competitor? @tryramp was valued at $44 billion just three months ago. Airwallex was valued at $11 billion. This is a company four times our valuation whose investors are using their political reach to turn a commercial rivalry into a Washington national-security fight. This is the anatomy of a smear campaign. Their investors have been attacking me and my company for months. This week a congressional letter about Airwallex is published and two of its most immediate and aggressive amplifiers are Ramp investors. What exactly are they afraid of? Airwallex spent ten years building global business accounts and financial infrastructure for companies operating around the world. Why not compete on the merits? Build the better product. Instead, Airwallex is being singled out for something utterly ordinary among global financial companies. Adyen has had a Shanghai team for more than a decade. PayPal, Checkout, JPM, Citi etc. many others operate in China to serve a global payments market. Why is the serious policy question not what security standards should apply to every global financial-services company? We welcome that question. We hired Coalfire, an A2LA-accredited FedRAMP Third-Party Assessment Organization, to independently evaluate our controls. Its published assessment described our security program as “intentional, structured, and forward-looking,” with controls that “go beyond minimum expectations.” We published the attestation. That should be the standard. Establish rigorous requirements for protecting American customer data. Independently test companies against them. Publish the results. Apply the same rules to Airwallex, Adyen, PayPal, Checkout and every other global financial company. The Committee’s letter itself says it “has not reached the conclusion that Airwallex has engaged in unlawful conduct.” There has been no finding of unlawful conduct here. Airwallex has instead opened its systems and controls to independent scrutiny. So why is Airwallex deserve to be on trial according to Ramp? I was born in China. I am an Australian citizen. My ethnicity is not evidence of allegiance to the Chinese government. It should not become a substitute for technical evidence simply because it makes an accusation more politically potent. National security is too important for that. Eric and Karim should ask whether this is really how they want competition in fintech to work. We have nothing to hide. We will keep answering legitimate questions, publishing evidence and subjecting ourselves to independent scrutiny. And after ten years building @airwallex, we are proud of what we actually compete on which is helping businesses operate and win globally.

Are @tryramp employees proud of this obvious smear? is this how they want to compete?

ANYWAY. We had a great event in Australia this week. Read more here.

I’m a founder. I like to focus on engineering and building rather than responding to false allegations. But there is so much here that I had to say something. I was born in China, and I am a proud Australian citizen who immigrated there as a teenager. Australia gave me the freedom and opportunity to build this company. The United States represents that same promise more powerfully than anywhere else on earth. Having employees in China is not, by itself, a security issue. The question is how customer data is protected. Joe knows that many of the world’s largest payments, banking and technology companies have employees and operations in China. What matters is the architecture, controls and safeguards governing access to data. Our controls have been independently assessed, and our product and security teams include veterans of Palantir and the Australian Defence Force. These allegations did not originate with a security breach or regulatory finding. They originated with investors in Ramp, our direct competitor. We have written to the Congressman and look forward to answering his questions. You can read the correspondence here:

How a company that started as a Melbourne coffee shop helped Australian small businesses generate an additional $200K in economic benefit last year theairwallexeconomy.substack…

I got a kick out of seeing Sunny wearing a Margaritaville collar in the spring of 2014. Assumed the Buffetts probably gave it to the Obamas.

Australian businesses have always looked beyond our shores. Now, a startup or small business can operate across borders much earlier, without the difficulties that once came with going global. Today, we’re launching The Airwallex Economy - our substack that will look at how businesses expand overseas, and the technology and policies that make it possible. nitter.net/jeneps/status/20974007…

How does the technology we build create value not just for the internet economy but for the places where people actually live and work? @airwallex sits on that data and we're going to tell that story. Welcome to The Airwallex Economy edited by @jeneps 🫡

Welcome to The Airwallex Economy, our new Substack where we'll be sharing stories about the businesses, people and ideas shaping the next global economy (edited by me) theairwallexeconomy.substack…

Great @jeffjohnroberts column on the opportunities & challenges of building out the last mile for stablecoins @dankimxyz shares why Airwallex has jumped in and is backing @metalntwx for regulated onchain flows fortune.com/2026/08/31/who-w…

Writing is thinking. Exporting that work means skipping actual thought. I'm amenable to the idea that sometimes you take the elevator instead of the stairs, but if we all start skipping the thinking part, we're all going to get dumber than we already are

As I was saying: borders still matter for stablecoins.

I agree that stablecoins are becoming an important global rail for moving money. I see the implications for borders somewhat differently. Stablecoins may change how money moves but sovereign financial systems still determine how to integrate them, not the other way around. I think this will only intensify as stable adoption grows. This is already happening. Brazil’s central bank brought virtual-asset services into its regulatory framework for foreign exchange and international capital. Vietnam is beginning to create a regulated crypto market while continuing to prohibit crypto assets from being used as a means of payment. The Philippines has indefinitely extended its moratorium on new virtual-asset service provider license. These policy choices all point in the same direction, stablecoin adoption will happen inside national regulatory systems. Tech has made businesses more global at the same time that financial sovereignty has become more local. Governments will continue making their own rules for money, data, identity, and payments and financial institutions. I am very familiar with these systems because we have spent years working within them and I expect this trend to endure. The most durable stablecoin infrastructure will be built for this reality. It will need to connect sovereign financial systems, provide deep liquidity and give businesses reliable ways to move between stablecoins and fiat. Moving from today’s financial system toward one in which stablecoins play a much larger role will require an enormous amount of infrastructure connecting the two. This is why I continue to believe so strongly in the business account as the core of what we are building at @Airwallex. A global business should have one place from which it can collect, hold, convert and move money, with deep local capabilities available as it enters each new market. We have spent years and significant resources building that infrastructure country by country. In Brazil, we secured a payment institution license from the Banco Central do Brasil. In Mexico, we acquired MexPago, an IFPE licence-holder. These licenses allow us to connect our global infrastructure directly into Latin America’s two largest economies and give businesses access to the local financial systems they need to operate there. Companies going global need a financial platform that grows with them across markets, currencies and payment systems. Entering Brazil should mean operating locally in Brazil. The same should be true in Mexico, Japan, India and every other important market. Our bet is that as AI and stablecoins spur more global commerce, these regulated local connections will become even more valuable. To put another way, stablecoins are making the connective tissue of the global financial system dramatically better. The world they are connecting remains deeply local.

your favorite cool dress brand may be using @airwallex

the odds of something like this happening while he’s alive are 0