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2/6 Airwallex presents itself as a Singaporean company, but the bulk of its operations and core staff are in China’s jurisdiction. Airwallex has 1,700 employees globally; roughly 40% and its largest offices are in mainland China and Hong Kong, including core engineering and ops. Job postings for “Senior Software Engineer – Backend (Payments Platform), Shanghai” say engineers there “design, develop, and maintain mission-critical payment systems that power Airwallex’s core financial services… for its global customers,” implying production-level access.