Yazılar

China Pushes Digital Yuan to Promote Multi-Polar Global Currency System

/in /tarafından

China’s central bank governor, Pan Gongsheng, announced plans to expand international use of the digital yuan (e-CNY) and called for developing a multi-polar global currency system during the Lujiazui Forum in Shanghai. This system would feature several dominant currencies competing with checks and balances, reducing reliance on the U.S. dollar and enhancing global financial stability.

To support this, China will establish an international operation centre for the digital yuan in Shanghai, aiming to boost the yuan’s role in global trade amid growing investor demand for alternatives to dollar-based assets. Pan highlighted vulnerabilities in traditional cross-border payment systems, which are prone to politicization and unilateral sanctions, positioning the digital yuan as a more resilient and efficient solution.

In a significant step, six foreign banks—including Standard Bank and First Abu Dhabi Bank—have agreed to adopt China’s Cross-Border Interbank Payment System (CIPS) for yuan-based international settlements, broadening the yuan’s footprint in global commerce.

China’s foreign exchange regulator emphasized maintaining a stable yuan exchange rate to shield against external shocks. Officials also pledged to further open China’s financial markets to foreign investors, promoting transparency and attracting international participation. With China’s fast-growing consumer market, foreign financial institutions are seen as key contributors to building a modernized financial system.

The move comes amid increasing global shifts away from the dollar, driven by U.S. tariff tensions and rising interest in cryptocurrencies and stablecoins as alternative stores of value.

Airwallex Hits $6.2 Billion Valuation in New $300 Million Funding Round

/in /tarafından

Airwallex, the global fintech firm specializing in cross-border payments, announced on Wednesday that it has raised $300 million in fresh capital, lifting its valuation to $6.2 billion — an 11% increase from its previous valuation in 2022.

The raise comes at a time when the broader private funding market remains tepid. According to PitchBook, over 26% of completed deals in Q1 2025 were either flat or down rounds, reflecting ongoing investor caution amid persistent high interest rates, recession fears, and geopolitical uncertainty, particularly around U.S. trade policy under Donald Trump.

Growth Despite Market Headwinds

Founded in Melbourne in 2015, Airwallex has grown into a leading payments platform offering international invoicing, cross-border payments, and spend management tools. The company moved its U.S. headquarters to San Francisco in 2023 and now has its global headquarters in Singapore.

“Just a few years ago, most of our business came from our cross-border infrastructure. Today, online payment processing and spend management account for over 70% of net revenue,” said Jack Zhang, co-founder and CEO of Airwallex.

The firm’s client roster includes global names such as Shein, Qantas, and Xero.

Investor Support and Strategic Focus

The latest round included backing from well-known venture firms such as Square Peg, DST Global, Lone Pine Capital, and Blackbird, bringing Airwallex’s total funding to over $1.2 billion.

Zhang emphasized that Airwallex is targeting Japan, Korea, and Latin America for its next wave of geographic expansion, further challenging incumbents like JPMorgan Chase, Bank of America, and Citigroup in the global payments arena.

Industry Context

While the fintech sector enjoyed explosive growth during the post-COVID digital transformation wave, funding has since slowed dramatically. Airwallex’s successful raise — and upward valuation — positions it as a standout performer in a cautious investment climate, signaling investor confidence in its business model and global strategy.