When Data Residency Meets Geopolitical and Competitive Reality: The Airwallex Controversy and DOJ Data Transfer Rules
Executive Summary The recent public dispute between venture capitalist Keith Rabois and Airwallex CEO Jack Zhang has thrust into the spotlight a critical question facing global fintech companies: Can firms with significant Chinese operations credibly promise that U.S. customer data remains beyond Beijing’s reach? This controversy arrives at a pivotal moment—just months after the Department …