4th November 2024, Kathmandu
XTransfer, the world’s leading, and China’s top B2B cross-border trade payment platform, made a powerful impression at Hong Kong FinTech Week 2024.
XTransfer Captivates Audiences Hong Kong FinTech
Both an exhibitor and a main sponsor, XTransfer’s participation drew considerable interest as it showcased its revolutionary technology that facilitates secure, quick, and cost-effective global trade payments for small and medium-sized enterprises (SMEs).
Highlights from XTransfer’s Involvement
Bill Deng, the visionary Founder and CEO of XTransfer, took part in several influential panel discussions, meeting with global financial leaders and government officials to discuss future partnerships. Deng was a keynote speaker at the event, addressing the crucial theme of “Next-Gen Digital Payment Infrastructure: Integration, Security & Interoperability”.
In his talk, Deng outlined how XTransfer’s AI-driven infrastructure, with its automated anti-money laundering and anti-fraud capabilities, empowers banks and financial institutions to serve SMEs efficiently.
Deng noted that XTransfer’s platform reduces reliance on manual operations by leveraging data-based, automated, and internet-driven technology for effective anti-money laundering processes.
“Through technology, XTransfer bridges large financial institutions and SMEs globally, enabling SMEs to access cross-border financial services comparable to those of multinational corporations,” Deng emphasized.
Tackling Financial Inclusion Challenges
Deng participated in a panel on “The Role of Tech in Finance for an Inclusive Future,” where he highlighted the unique challenges SMEs face with cross-border trade. He noted that stricter regulations globally have imposed obstacles like account opening difficulties, risk of fund freezes, high exchange losses, and prohibitive remittance costs on SMEs.
In response, XTransfer has collaborated with renowned institutions like J.P. Morgan, Deutsche Bank, Bank of China, DBS Bank, and Visa, facilitating the “Global Business Account” to empower SMEs with seamless foreign exchange, payment solutions, and additional services spanning 200+ countries and 15 currencies.
Expanding into Emerging Markets
XTransfer’s 2024 focus has been on expanding its footprint in emerging markets. Deng revealed plans for further expansion in regions such as the Middle East (Saudi Arabia, Qatar, UAE), Africa (Nigeria, Kenya), Southeast Asia (Indonesia, Vietnam, Philippines), and Latin America (Mexico, Brazil).
Through XTransfer-to-XTransfer (X2X) payment services, the company enables SMEs to transfer funds directly from account to account globally, providing the convenience of local transfers and boosting operational efficiency.
Deng noted, “For our first six years, we focused on Mainland China to meet the foreign trade demands of SMEs. In 2023, we took a pivotal step into the Hong Kong market, marking our first appearance at Hong Kong FinTech Week.
This has been an exceptional opportunity to showcase our innovation and collaborate with international financial institutions and governments, promoting cross-border payment efficiency.”
XTransfer’s Rise as a Global Leader in B2B Trade Payment Solutions
Founded in 2017 and headquartered in Shanghai, XTransfer operates globally with branches across Hong Kong, the United Kingdom, the United States, Canada, Australia, Singapore, and several other countries.
The company has acquired significant international payment licenses and currently serves over 550,000 enterprise clients, firmly establishing itself as China’s No.1 in the cross-border trade payment domain.
XTransfer’s Series D financing in 2021 propelled it to unicorn status, backed by notable investors such as D1 Capital Partners, Telstra Ventures, China Merchants Venture, and Lavender Hill Capital Partners.
With a comprehensive, multi-currency clearing network and data-centric anti-money laundering system, XTransfer uses cutting-edge technology to link SMEs with global financial institutions, enhancing global trade and empowering SMEs to compete on an international scale.
XTransfer’s participation in Hong Kong FinTech Week 2024 marked a significant step forward in transforming cross-border trade payments.
By leveraging emerging technologies and expanding its global reach, XTransfer reaffirms its commitment to enabling financial inclusion and supporting SMEs worldwide with secure, efficient, and affordable financial services.
Key Takeaways
XTransfer is revolutionizing cross-border payments for SMEs by providing secure, data-driven solutions.
Strategic partnerships with global financial giants position XTransfer as a top innovator in the fintech space.
XTransfer’s global expansion continues to target emerging markets, enhancing financial inclusion and operational efficiency for SMEs.
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