NEWS
Airwallex processing volume surges past US $ 100 billion
Airwallex , a leading global payments and financial platform for modern businesses , has surpassed US $ 100 billion in annual processing volume , up 73 % year-onyear . Airwallex has seen growing volumes across all products , including payments , FX , payouts , and issuing , and an annual run rate revenue approaching US $ 500 million . These achievements come on the heels of Airwallex achieving cash flow positivity at the end of 2023 – a dividend of the company ’ s strong product market fit , ubiquitous global infrastructure and continued market expansion .
“ Crossing the US $ 100 billion threshold and turning cash flow positive solidifies our confidence in the durability and scalability of our business model ,” said Jack Zhang , Co-founder and CEO at Airwallex . “ While demand is slowing in many corners of the tech economy , serving the payments and financial operations of global businesses remains a significant market opportunity . We ’ re proud of how far we ’ ve come in the past nine years , and we are more ambitious than ever in supporting millions of global businesses to grow beyond borders .”
The ability to operate across borders can unlock meaningful growth for companies of all sizes – by accelerating international expansion , optimising supply chains , or attracting the best talent . Airwallex ’ s offering taps into a total addressable market opportunity estimated to be worth more than US $ 570 billion by 2027 .
Schwab survey reveals that Americans think it takes US $ 2.5 million to be considered wealthy in 2024
Charles Schwab has released additional findings from its 2024 Modern Wealth Survey . Since 2017 , Schwab has collected data annually on Americans ’ perspectives on saving , spending , investing and wealth . This year ’ s study reveals that Americans now think it takes an average of US $ 2.5 million to be considered wealthy – which is up slightly from 2023 and 2022 ( US $ 2.2 million ).
By generation , Boomers have the highest threshold of what it takes to be considered wealthy , at US $ 2.8 million , while the younger generations , Millennials and Gen Z , have lower thresholds of what is considered wealthy . At the same time , Americans say that the average net worth required to be financially comfortable is US $ 778,000 . The average net worth required for financial comfort reached a peak last year at US $ 1 million , but this year , Americans ’ estimations are more in line with 2022 ( US $ 775,000 ) and show an upward trend when compared with 2021 ( US $ 624,000 ).
When it comes to geographic region , Californians have the highest threshold of what it takes to be wealthy , with San Franciscans saying it takes US $ 4.4 million and Southern Californians indicating it takes an average net worth of US $ 3.4 million . Survey respondents who live in Atlanta , Chicago , Houston , Phoenix and Dallas express a lower threshold of what it takes to be wealthy when compared with the national average . �
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