Airwallex CEO and co-founder Jack Zhang has firmly denied allegations that U.S. customer data is being sent to China, following claims circulated online by investor Keith Rabois. Zhang labeled the accusations as false and driven by competitive motives, stating emphatically, "No U.S. customer data is sent to China. Full stop." in a public response on December 2, 2025.
Zhang clarified that Airwallex stores U.S. customer data exclusively in the United States, the Netherlands, and Singapore, with staff based in China and Hong Kong having no access to personal data. The company operates under strict global data-residency and security frameworks, holds over 70 licenses worldwide, and is regulated in more than 48 U.S. states. He emphasized that their legal and technical systems block any foreign government from gaining unauthorized access to U.S. data, and they do not respond to foreign intelligence demands for non-local sensitive data, adhering to U.S. federal standards on cross-border data protection.
The controversy began when Keith Rabois alleged on X that Airwallex's significant engineering presence in mainland China and Chinese ownership stakes create a data security risk, suggesting that Chinese law could compel access to data even on U.S. servers. Some of his posts were later deleted, but the exchange ignited widespread debate in fintech and crypto circles, with supporters questioning the evidence behind the claims.
Adding to the confusion, Airwallex's global privacy policy mentions processing data in various countries, including China, which critics argue contradicts Zhang's statements. The company maintains that U.S. customer personally identifiable information (PII) is restricted to approved regions. As of now, no regulatory violations have been confirmed, and authorities have not announced investigations, but the incident has placed Airwallex under national security scrutiny during a sensitive time for cross-border fintech firms.
