Dave Lee is an entrepreneurial expat making waves in Mongolia. He is the CEO and Chairman of X-Meta exchange and IHC E-Sports team, boasts over a decade of global experience that spans commodities trading, business development, startup investments, and much more.

A strong advocate for technologies enhancing quality of life, Lee co-founded Singapore's first electric vehicle company, AVEVAI, and has contracted millions of carbon credits to combat climate change. His involvement in the Asia Pacific's blockchain and green energy sectors is well noted, as is his founding of a digital technology company leveraging blockchain and AI.

Since 2016, Dave Lee's expertise in crypto arbitrage trading has fostered relationships with industry heavyweights like X-Meta, Binance, Chainalysis, Huobi, Gate.io, Kraken, and KuCoin. An authoritative voice, he has shared his insights at international conferences, including Binance, Blockchain Week 2022, Chainalysis Links Conference, and Crypto Asia 2022. As Chairman of IHC Esports, a top-tier E-Sports team based in Mongolia, he fervently promotes Mongolian Esports on the global stage. Dive with us into Dave Lee's remarkable journey in this exclusive interview.

- Can you tell us about your background and what led you to create X-Meta Exchange?

- I always loved helping people. So I studied and graduated in the medical field. And my first job was working in a hospital before quitting, because I figured there's a better way to help people through other positive ways.

I think as an exchange, regulation is good. Since the crypto industry is very new in Mongolia, the regulation process was a little complicated. But it provides a sense of security.

What inspired me to create X-Meta? I saw the whole shift booming in the crypto sector, but these exchanges lacked the most important factors, which are security, liquidity, and transparency. So, I thought, why not leverage my network, bring the biggest players, work with the biggest player in the exchange and provide global standard exchange for the Mongolian users because it is a very sensitive sector.

People think crypto is a wild wild west, and I wanted to break that barrier and let them know that no one can be very systematic that provides the number one security, the biggest liquidity, for Mongolian users. The idea is - everything that I do in Mongolia - if I can't bring Mongolia to them, let me bring the world to Mongolia. This is what inspired me.

- How has your experience living and working in Mongolia influenced your perspective on the global cryptocurrency industry?

- The Mongolian community is extremely strong and extremely rare versus other global markets. A lot of the global industry is more of pump and dump. When they think of crypto, they think more of how to get rich. They think that they buy their first Bitcoin and they're millionaires. Mongolia did have that as well, but looking back now at the community and the support and the love I think the Mongolian community - investors, users , crypto traders, holders - are much more loyal and supportive. So there's a lot of upside potential to bring these projects overseas.

- How has the regulatory environment in Mongolia affected the growth and development of X-Meta Exchange?

- I think as an exchange, regulation is good. Since the crypto industry is very new in Mongolia, the regulation process was a little complicated. But it provides a sense of security. And I think the beginning is tough, but it's part of the learning curve. Again, one of the main inspirations that I brought to X-Meta was for these reasons. Transparency, security, safety.

I think blockchain can be an extremely valuable asset that the government as well as the private sector should explore and develop. And I believe that there's a huge amount of potential in that sector.

- Mongolia is known for its rich mineral resources, but how do you see the country’s potential in the blockchain and cryptocurrency industry?

- Not necessarily crypto, but I believe blockchain as a technology can be utilized in many ways for Mongolia, from government level to private sectors. What is blockchain? Something that cannot be copied. It's done on a contract basis between peers, without requiring any third party, etc. Utilizing blockchain in a lot of natural resources from import-export, from the mining process, from refining the goods, value-added products and exportations and so forth, brings transparency. Regulation from the government's point of view on, you know, how much tonnage has actually been mined and has been processed. I think blockchain can be an extremely valuable asset that the government as well as the private sector should explore and develop. And I believe that there's a huge amount of potential in that sector.

In terms of the cryptocurrency, sure, there can be an exchange that is a commodity exchange that's run on its own cryptocurrency, hedging, etc. But before that, I believe in order for it to become highly successful, focus on the technology, build around it before linking it with these business models. I think it's very critical. As long as they do it that way and do it properly and built around it - a system, rather than a business - it has a huge upside. That's very important, not as a business but actually utilizing the technology to build its core operation.

- Can you share your thoughts on the future of cryptocurrency adoption in Mongolia and the surrounding region?

- It's been a tough year in the crypto sector. But I think definitely what blockchain and crypto offers, it's here to stay. It's not going to go away, that's for sure. In terms of adoption, like I said, Mongolian community members, holders, traders, people that are adapting to crypto are none like I've seen in different countries. So as long as a lot of these projects are actually utilizing its benefits rather than for getting rich, scheme fast kind of thing, I am very positive on the future of adoption in Mongolia. And I believe Mongolia could be an extremely great hub, kind of like what I advocate in a lot of the speeches that I gave overseas, why I believe in the transformation of Mongolia. And I believe that it'd be a great proof of concept country to be able to affect all the other surrounding regions

My conviction is to make X-META into the best, most reliable, and the most trustworthy exchange in Mongolia.

- How do you maintain a work-life balance as an expat in a new country, and balance your hobbies with a busy schedule?

- It's very difficult. Technically, it's one or the other. But as a startup, leading the new generation, my life has been all work, mostly, which forced me to give up my hobbies and give up a lot of things. But I believe that in order for you to become the top 1%, 10%, and as a leader, and owning and running the top exchange in a country, comes with responsibilities and consequences. And especially as a startup, I believe that everything in my life is negotiations. There's never a right or wrong. Yet, there's one thing I never negotiate, which is my conviction. And my conviction is to make X-META into the best, most reliable, and the most trustworthy exchange in Mongolia. And throughout that process it's not a balance. For me, it was to give up certain things to be able to provide that.

- What is one piece of advice you wish someone had given you before moving to Mongolia?

- Spend more time with your family. Being overseas, the toughest part is I was already born in a family where my parents were not so young. Living abroad and so busy, you're lucky if you could go back to the States, because it's so far, its once a year. If I have 15 years left with them, that equates to I have 15 more times to be able to see my family, my parents. Only 15 more. So one true advice that I wish someone gave me before moving is to spend more time with your family before you go or manage your time is my biggest regret that I have.

- Given the limited availability of food options in Mongolia for people with specific dietary needs, how do you manage your diet as a diabetic while still being able to enjoy a variety of foods? Are there any specific diabetic-friendly recipes or restaurants that you particularly enjoy?

- I'm extremely poor at managing my diabetes, so I'm always on medicine, but I started working out, going to the gym to offset that. It's very difficult to find the proper foods for someone like me, especially in Mongolia. I'm Asian but I'm American and I grew up on pasta pizza burgers, so that's something that I just can't give up; Mongolia is big on bread and big on pasta, right? So it's very difficult, but nowadays a good thing is there are good keto restaurants popping up. There are a lot of these food delivery services for keto and the good thing is Mongolians are becoming extremely healthy, a lot of them are going to the gym. A lot of them are living this healthy lifestyle.

So that kind of helped me manage it, I guess. And how am I able to enjoy a variety of foods? Cheat day. Are there any specific diet-friendly recipes? So I love tofu. So I'm actually not a big meat eater. So I actually love tofu. I could eat tofu and seafood. I'm a big seafood eater. So my best is just tofu, and eggs are where my sweet spot is. And when I go to restaurants, anything Japanese, sushi, sashimi, there are a lot of good places, but in particular, I enjoy dining in Ikigai for their fresh sashimi.

- You’re interested in extreme sports. Can you tell us about a particularly memorable experience you had while participating in an extreme sport?

- Broke a few bones. So I love skydiving, I love scuba diving, I'm both certified. I have been a heavy snowboarder since high school. Middle school, I was a big skateboarder. And then in high school, college, I started to ride motorcycles. I was a big racer. So a particularly memorable experience, just adrenaline. I just love the adrenaline. And where in racing, the speed. And in the sky, it's just your world. Scuba diving in particular, being able to wake up in the middle of the ocean watching the sunrise, sunset, on a boat and there's nothing to do but scuba dive. When you're below water, it's the most amazing feeling because there's so many undetected, unexplored things that you get to see. It's one thing I love about going underwater.

The idea is - everything that I do in Mongolia - if I can't bring Mongolia to them, let me bring the world to Mongolia. This is what inspired me.

- Can you tell us about a person who has had a significant impact on your life or career?

- That's my father, by far. What my father has taught me to be where I am is, since a young age, making me do that one extra hour to surpass my peers. 10 years later definitely set a different tone in my life.

The sense of responsibility, never giving up, to stay positive, from these roles to leadership skills to problem solving I had to learn from someone, and everything is all from my father. He is my biggest hero, for my mom he gave up his entire career. For his family, every day for him was about sacrifice not taking, but giving. I wish I could become half the man that he was, I think I would be pretty happy too, especially now that I'm a father.

- How do you effectively lead and motivate a team of mostly young individuals at X-Meta to achieve their full potential and meet the company’s goal?

- By sharing your goal and the vision and the plan, it allows them to understand that. With the new generation, the new young individuals with lack of experience, even if they have the heart, if you don't understand it, it's extremely tough. By giving all the resources, from supporting them to materialistic things to all the above. That's how you offset the young individuals with lack of experience again, by giving that. And motivation and being able to reach those goals, potential. And the third thing is getting out of the way, giving them the trust and allowing them to reach their potential.

And I believe how you earn that respect is by allowing them to understand the goals and the vision. And throughout the way, supporting them and teaching how to achieve those things with the resources that they need. And it balances out the trust and the respect to ultimately bring up the full potential as a team, but also allows us to reach those goals. And it's not just the company, this three-rule applies with personal relationships with them as well as the company.