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Why Jack Zhang Is Betting Against SWIFT and Stripe
May 12, 2025
Jack Zhang, Co-founder and CEO of Airwallex, journeyed from a small town in China to building a billion-dollar tech story in Australia. He discusses how Airwallex differentiated itself from Stripe in the APAC market and reflects on a costly mistake that almost derailed their first client. Jack shares insights on navigating the 2022 valuation reset without panic, and highlights an overlooked AI opportunity in fintech. With Airwallex hitting $1B in volume before a proper Series A, his story is one of resilience and innovation in the global payments landscape.
01:30:04
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Quick takeaways
- Jack Zhang's journey from China to Australia reflects the resilience and determination required for entrepreneurial success in tech.
- Airwallex's rapid growth trajectory and strategic partnerships enabled it to achieve $1 billion in transaction volume within a year.
Deep dives
Vision for a Financial Network
The concept of building the largest money movement network to displace traditional banking systems like SWIFT is explored. This vision represents a significant shift in the financial infrastructure, akin to creating a railway network for money movement. The focus is on creating a robust infrastructure that facilitates seamless transactions globally, similar to the digital banking model. Achieving this requires not only laying down the infrastructure but also understanding what financial products will be effectively utilized on this network.
