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Data localization requirements may hinder Pakistan’s opportunities to grow its digital economy

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New research paper reinforces the need to consider the economic impact of data localization in Pakistan, estimating a potential loss of 3.2 million jobs with the enforcement of data localization practices.

ISLAMABAD, Aug. 1, 2024 /PRNewswire/ — A new research paper, Data Localization in Pakistan: Challenges and Opportunities, examines the operational and economic impact of data localization in Pakistan. The paper outlines the regulatory environment in Pakistan and the differentiated consequences of data localization practices in four sectors: healthcare, IT and ITeS (software), e-commerce, and freelancers. Commissioned by the Asia Internet Coalition and developed by LIRNEasia, the paper also provides recommendations on how the government can approach and enforce data localization efforts without impacting the potential of the digital economy.

Data localization can contribute to slower economic growth, lower productivity, and reduced employment. The report estimated that if the Personal Data Protection Bill based on its May 2023 draft is enacted in 2024, it could result in a decline in labour productivity by 4.7%. Such a reduction, when applied to Pakistan’s GDP in 2021, directly impacts GDP and number of jobs, translating to a loss of US$ 16.5 billion for the following year and a potential loss of 3.2 million jobs.

While representatives of local businesses welcomed the government’s efforts to improve data protection in Pakistan, they also shared three key areas in which data localization requirements were seen unfavorably. Firstly, fully localized data can result in higher compliance costs, with a Pakistani IT company estimating a 70% increase in hosting costs. There are also human resource constraints, with businesses requiring more employees to run operations. Skill gaps in the local market can also hinder businesses’ smooth transition to localized data, not being able to capitalize on larger talent pools in other countries. In addition, centralized data storage can heighten the risk of data breaches, as businesses would have to compromise the security benefits of a decentralized architecture. Concerns around data recovery and data mirroring can also arise under such data localization requirements.

“The fourth industrial revolution is driven by the digital transformation of our economies and societies, resulting in global integration of value chains, economic growth, and job creation. Open data flows are crucial to Pakistan’s digital growth, and there are ways in which Pakistan can reconcile its digital security and privacy needs with the need for open data flows. An important next step for Pakistan is to review its data protection governance framework across sectors and services with a specific focus on economic growth, job creation, and its vision for digital transformation. Handicapping Pakistan-based firms by imposing additional costs can impede them from competing in the global market and for investment. Other countries with friendlier policies will have an advantage over Pakistani firms. Amid Pakistan’s goals to become a US$ 3 trillion economy by 2047, this can impact the country’s economic growth on the global stage,” said Rohan Samarajiva, Chair, LIRNEasia and one of the paper’s authors.

In Pakistan’s current policy and regulatory landscape, some data localization is required. However, regulating digital platforms and businesses in Pakistan, particularly the use and storage of data would need to be reevaluated to avoid more serious repercussions for businesses and the economy. A lighter touch approach to enforcement can yield a milder impact on Pakistan’s digital economy. With Pakistan’s regional peers also moving away from such measures, the merits of data localization do not seem to outweigh the potential economic risks it brings. Continuous engagement with industry stakeholders can help the government refine and adapt the regulatory framework as the digital landscape evolves.

For more information, the report can be found here.

This paper is authored by LIRNEasia with the support of the Asia Internet Coalition (AIC). 

About the Asia Internet Coalition

The Asia Internet Coalition (AIC) is an industry association comprising leading Internet and technology companies. The AIC seeks to promote the understanding and resolution of Internet policy issues in the Asia Pacific region. Visit www.aicasia.org for more information.

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SOURCE Asia Internet Coalition

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XTransfer Export PMI: Emerging Markets Drive Growth, High-End Upgrading Opportunities Stand Out

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GUANGZHOU, China, April 20, 2026 /PRNewswire/ — XTransfer, the World’s Leading B2B Cross-Border Trade Payment Platform, released its latest figures at the 139th China Import and Export Fair (Canton Fair). In the first quarter of this year, emerging markets across Asia, Africa, and Latin America accounted for 73% of XTransfer’s inbound cross-border payment collections, with 45% increase year-on-year. Collections from Africa, Latin America, and Southeast Asia increased 115%, 97%, and 18% year-on-year, respectively, highlighting growing demand among exporters for secure and efficient cross-border collection channels.

According to statistics from the China General Administration of Customs, emerging markets in Asia, Africa, and Latin America have become a key driver of export growth. However, underdeveloped local financial infrastructure, incomplete cross-border payment systems, and shortages of foreign exchange mean buyers often struggle to access U.S. dollars. As a result, exporters in these markets frequently face low settlement efficiency, slow cash recovery, and risks such as account freezes.

To address these collection challenges, XTransfer has developed a comprehensive set of cross-border collection solutions. In 2025, payment collections from emerging markets in Asia, Africa, and Latin America rose 106% year-on-year. By region, collections increased 273% in Africa, 82% in Southeast Asia, and 94% in Latin America.

Over the same period, customs statistics show that in 2025, China’s total goods exports to Asia, Africa, and Latin America increased 14.6% year-on-year, with exports to Africa, Southeast Asia, and Latin America up 26.6%, 14%, and 8%, respectively. XTransfer’s significantly faster growth in collections compared with export growth suggests exporters are accelerating the shift from informal channels to secure, compliant collection methods, and that market recognition of high-quality cross-border payment services continues to rise.

Bill Deng, Founder and CEO of XTransfer, said emerging markets offer long-term opportunities for Chinese exporters, but many are held back by the “last mile” of collections. He added that XTransfer is committed to helping SMEs collect funds safely and quickly through secure, compliant, and efficient cross-border financial services comparable to those used by multinational companies.

Release of XTransfer PMI

At the Canton Fair, XTransfer partnered with the Yicai Research Institute to publish the “China Small and Medium Enterprises (B2B) Merchandise Export Purchasing Manager Index” (XTransfer Export PMI), offering operational guidance and decision-making reference for small and micro export-oriented businesses.

This edition draws on a sample survey of XTransfer’s 800,000 SME users, selecting over 3,000 companies nationwide. It covers the full export process across export orders, pricing, procurement, logistics, staffing, and cash flow. The report shows that the March 2026 XTransfer PMI was 51.56%, indicating export conditions for SMEs are generally improving. Despite a complex external environment, SMEs have remained resilient and steadily strengthened their pricing power in international markets. Meanwhile, demand structures in emerging markets are reshaping, with export focus shifting toward intermediate goods and higher value-added products.

Resilience Amid Geopolitical Disruptions

Customs data show that in the first quarter, China’s goods exports reached RMB 6.85 trillion, up 11.9% year-on-year, marking a strong start to the year and benefiting SMEs. The XTransfer PMI also shows expansion in the export order index (53.85) and the export price index (56.15). While seasonal factors like the Spring Festival affected the short term, the underlying “volume and price rising together” trend suggests SMEs are accelerating their shift from “low-price internal competition,” strengthening pricing power through technology upgrades and improved quality.

Geopolitical disruptions have also extended delivery times, pushing the logistics time PMI down to 37.50. In contrast, the sales collection (receivables) index rose to 68.59, showing a pattern of “goods moving slower, money returning faster”. This suggests overseas buyers remain strongly tied to China’s high-quality supply chain and are willing to raise prepayment ratios or shorten payment terms to secure capacity. One exhibitor, Mr Wang, said, “A Southeast Asian customer increased its deposit from 30% to 70% to lock in production, worried our capacity would be booked by others.”

Emerging Markets Demand Trends Toward “High-End” Upgrading

The report highlights a shift toward higher-end demand in emerging markets. Africa’s export orders index (57.55) points to rising infrastructure-related demand; Latin America’s export orders index (56.47) and price index (57.81) signal opportunities in electromechanical and optical medical equipment; and Southeast Asia is absorbing components and semi-finished goods, calling for SMEs to move from finished-goods suppliers to supply-chain partners.

As industrialisation accelerates in emerging markets, demand for high-quality intermediate goods, complete electromechanical equipment, and technical services is rising. SMEs are moving from “low-end capacity exports” to “exports of technology and supply chain support”.

The composite PMI for the “New Three” (new energy vehicles, photovoltaics, and lithium batteries) was 54.59. The “New Three” sectors continue to hold growth potential, and enterprises need to enhance profit margins by delivering differentiated value.

 

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SOURCE XTransfer

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BingX Reports Strong Q1 2026 Growth as AI Users Surpass 5 Million and TradFi Hits 50% of Volume

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Q1 2026 Highlights:

BingX launched the TradFi Market, delivering a multi-asset suite of stocks, indices, commodities, and forex, with over 100 traditional assets on offer.BingX TradFi was integrated with BingX’s full ecosystem of perpetual futures, copy trading, VIP, AI tools and more, with its trading volume peaking at a 50% share in Q1.BingX AI surpassed 5 million users in Q1, with over 57 million cumulative queries resolved.AI Claw and AI Skills Hub joined BingX AI in Q1, offering real-time trading signals and new ways to interact with markets.BingX VIP updated “Access More. Go Further.” mission, enhancing accessibility, performance, and rewards for advanced users.BingX VIP saved users over $700,000 in trading fees.

PANAMA CITY, April 20, 2026 /PRNewswire/ — BingX, a leading cryptocurrency exchange and Web3-AI company, today released its Q1 2026 review, highlighting momentum across its AI-driven, Tradfi ecosystem. The quarter was defined by the launch of the BingX TradFi Market and continued expansion of the BingX AI suite, alongside strong user feedback to its VIP program enhancements.

In Q1, BingX officially launched its TradFi Market, marking a significant step in bridging traditional finance and crypto trading. The platform now supports over 100 TradFi assets across commodities, forex, stocks, and indices. At its peak during the quarter, TradFi trading accounted for 50% of BingX’s total volume, reflecting strong user demand for diversified markets within a unified trading environment. Fully integrated across the BingX ecosystem, TradFi capabilities extend into perpetual futures, copy trading, AI-powered tools, and VIP benefits, enabling users to manage their trading efficiently through one platform.

BingX continued to advance its position as the first AI-native crypto exchange, with two key products launched in Q1: BingX AI Claw and the BingX AI Skills Hub. AI Claw delivers real-time, cross-validated trading signals with explainable insights, while the AI Skills Hub introduces a new interaction layer through AI agents capable of executing trades, analyzing markets, and managing accounts using natural language. Adoption of BingX AI surpassed a total of 5 million users in Q1, with over 57 million queries resolved, underscoring users’ growing reliance on AI-driven trading support.

BingX VIP also saw strong growth through the “Access More. Go Further.” update, improving accessibility, performance, and rewards for advanced users. $1.4 million airdrops has been delivered, while optimized execution mechanisms helped users save over $700,000 in trading fees. With expanded entry pathways, enhanced benefits, and integration across both crypto and TradFi markets, BingX VIP continues to evolve as a comprehensive premium trading ecosystem.

About BingX

Founded in 2018, BingX is a leading crypto exchange and Web3-AI company, serving over 40 million users worldwide. Ranked among the top five global crypto derivatives exchanges and a pioneer of crypto copy trading, BingX addresses the evolving needs of users across all experience levels.

Powered by a comprehensive suite of AI-driven products and services, including futures, spot, copy trading, and TradFi offerings, BingX empowers users with innovative tools designed to enhance performance, confidence, and efficiency.

BingX has been the principal partner of Chelsea FC since 2024, and became the first official crypto exchange partner of Scuderia Ferrari HP in 2026.

For more information, please visit: https://bingx.com/

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SOURCE BingX

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Ontinue Opens New Headquarters in Zurich, Strengthening Commitment to European Growth and Innovation

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New Office Reflects Continued Investment in Talent, Customers, and Security Excellence Across DACH and Beyond

ZURICH, April 20, 2026 /PRNewswire/ — Ontinue, a leading provider of nonstop managed security operations through its Agentic SOC, today announced the opening of its new headquarters in Zurich, Switzerland, located at Grubenstrasse 54, 8045 Zurich. This new office represents a significant milestone in Ontinue’s continued expansion across Europe and reinforces its long-term commitment to delivering exceptional security outcomes for customers globally.

The opening of the Zurich headquarters reflects Ontinue’s position of strength and accelerating momentum, driven by rising demand for a new agentic security operations model built for scale, speed, and trust. As organizations face growing complexity across their digital environments, Ontinue continues to invest in regional expertise, world-class talent, and operational excellence to support customers where they are.

“Zurich has always been an important hub for Ontinue, and this new headquarters marks the next chapter in our growth,” said Moritz Mann, CEO of Ontinue. “We are investing in exceptional talent and creating an environment where our teams can continue to innovate, collaborate, and deliver meaningful outcomes for our customers. This expansion underscores our commitment to Europe and our belief in the opportunity to lead the future of security operations on a global scale.”

Ontinue’s presence in Zurich brings together a highly skilled team spanning security operations, threat intelligence, detection engineering, AI engineering, customer success, sales, and marketing. This proximity between human defenders and AI engineering teams is foundational to Ontinue’s Agentic SOC approach, enabling faster innovation, deeper context, and continuous improvement across customer environments. The new office is designed to foster deeper collaboration across these functions, enabling Ontinue to continue delivering its signature approach to managed security, combining advanced AI with human expertise to stop threats and reduce risk in customer environments.

As part of its European growth strategy, Ontinue is focused on helping organizations modernize their security operations by moving beyond traditional SOC models that struggle with scale, noise, and complexity. The Zurich headquarters will serve as a central hub for innovation and customer engagement, supporting Ontinue’s ongoing investment in agentic security operations where intelligent automation and human judgment operate as one system.

Ontinue’s Agentic SOC service, powered by its ION SecOps Platform, enables organizations to move beyond reactive security models by delivering proactive threat detection investigation, response, and continuous posture improvement. By combining AI and automation with expert human defenders, Ontinue helps customers reduce noise, accelerate response times, and reduce risk by strengthening their overall security posture.

The opening of the new headquarters further strengthens Ontinue’s ability to scale its operations while maintaining the high-touch, customer-centric approach that has become a hallmark of its service.

For more information about Ontinue and its ION SecOps Platform, visit www.ontinue.com.

About Ontinue

As a leading provider of AI-powered managed agentic SOC services, Ontinue is on a mission to be the most trusted security partner, empowering customers to embrace and accelerate digital transformation while reducing risk. By combining advanced AI with deep human expertise, Ontinue delivers managed security operations that are tailored to each organization’s unique environment, operational needs, and risk profile.

Ontinue’s ION SecOps Platform integrates AI-driven insights, automation, and real-time collaboration to continuously prevent, detect, and respond to threats. With deep expertise in Microsoft security technologies, Ontinue helps customers maximize the value of their existing investments while achieving stronger, more scalable security outcomes.

Continuous protection. AI-powered Nonstop SecOps. That’s Ontinue.

Ontinue Media Inquiries
Alison Raymond
Senior Director, Corporate Communications
araymond@ontinue.com 

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SOURCE Ontinue

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