XTransfer, the leading B2B cross-border trade payment platform in China, announces the global launch of its international services, expanding its reach to over 200 countries and regions. Initially introduced in Hong Kong in April last year, XTransfer aims to assist Micro-, Small and Medium-sized Enterprises (MSMEs) in cross-border trade.
Having focused on China’s domestic market since 2017, XTransfer has garnered over 400,000 enterprise clients, achieving unicorn status and becoming the industry leader in China. The recent expansion to Hong Kong and its participation in global trade shows mark significant steps toward its international presence. XTransfer plans to cover regions worldwide, including the U.S.A, Canada, the United Kingdom, Southeast Asia, South Asia, Africa, the Middle East, and Latin America.
Bill Deng, Founder and CEO of XTransfer, expressed the company’s commitment to partnering with local financial institutions globally. This collaboration aims to provide innovative cross-border payment solutions for local MSMEs, facilitating global business expansion. XTransfer’s goal extends beyond cross-border payments; it seeks to build a global payment infrastructure supporting trade between different countries, especially assisting MSMEs in emerging economies.
Traditional banks often struggle to offer sound financial services to global MSMEs, leading to challenges in cross-border transactions. XTransfer addresses this by employing a data-based, automated, Internet-powered, and AI anti-money laundering risk management infrastructure. It has gained the trust of international financial institutions such as J.P. Morgan Chase Bank, DBS Bank, and Deutsche Bank.
XTransfer clients benefit from secure and compliant cross-border collection and payment services, efficient foreign exchange, and more. The platform aims to reduce trade costs by up to 10%, offering significant savings in remittance fees and currency conversion costs. As an innovative unicorn, XTransfer is committed to enhancing financial inclusion for MSMEs worldwide through technology-driven solutions.
