2nd July 2024, Kathmandu
XTransfer CEO Bill Deng participated in the 2024 Dalian Summer Davos Forum, sharing insights on cross-border trade payments, innovation, and regulatory challenges. He joined a special dialogue with Chinese Premier Li Qiang, discussing global expansion and collaboration opportunities.
XTransfer CEO Bill Deng Speaks
XTransfer, the world’s leading & China’s No. 1 B2B cross-border trade payment platform, participated in the World Economic Forum’s 15th Annual Meeting of the New Champions (Summer Davos Forum) held in Dalian at the end of June.
Bill Deng, founder and CEO of XTransfer, met with leaders of renowned international financial institutions during the forum to explore collaboration opportunities. XTransfer was honoured to be invited to join the Special Dialogue with Chinese Premier Li Qiang.
Bill was invited to share his insights at the “Decoding E-Commerce Payments” panel discussion on the first day of the forum. With the further development of cross-border trade, payment service providers face different regulatory challenges in different regional markets, ranging from data privacy and consumer protection to fraud prevention and anti-money laundering, as well as managing national-level regulations.
Bill shared the current payment service challenges SMEs face in cross-border transactions and how XTransfer addresses regulatory requirements in different markets while assisting these SMEs in expanding globally.
During the forum, Bill was also invited to participate as a speaker in the “Next Steps from Chinese Innovators” roundtable meeting. As a representative of cross-border payment enterprises, Bill engaged in in-depth discussions on innovative development with Gong Yuan, Managing Director of HongShan, Anne Ma, Founder and CEO of Shukun; Alex Zhavoronkov, Founder and CEO of Insilico Medicine; and Cheryl Cui, Co-Founder and CEO of Bota Biosciences.
Innovation always accompanies competition in various industries. When asked how to perceive competition in terms of innovation in China, Bill pointed out, “Competition is a natural occurrence, and in the process of innovation, competition is one of the driving forces. Innovation and competition go hand in hand. From our perspective, it requires us to provide quality services to our customers and ensure we deliver excellent services.”
China has built a globally competitive innovation ecosystem and has experienced robust growth. However, this growth has also presented challenges requiring innovative leaders to step up.
Bill stated, “For foreign trade enterprises, the ability to keenly sense industry changes and adapt to them is crucial for effectively responding to challenges. XTransfer will play a significant role in providing SMEs with secure, low-cost, and convenient payment services, empowering SMEs to adapt to new changes and new markets quickly.
Finally, Bill said, “Our participation in Davos resonated with Premier Li Qiang’s speech, highlighting the significance of international cooperation and openness.
The event expanded our perspectives, showcased our capabilities, and enhanced our relationships with industry leaders and government officials. This will positively impact our ability to advance cross-border payments and fintech innovations on a global level.”
XTransfer
XTransfer, the world’s leading & China’s No. 1 B2B cross-border trade payment platform, is dedicated to providing SMEs with secure, compliant, fast, convenient, and low-cost foreign trade payment & fund collection solutions, significantly reducing the cost of global expansion and enhancing global competitiveness. Founded in 2017, the company is headquartered in Shanghai and has branches in Hong Kong SAR, the United Kingdom, the Netherlands, the United States, Canada, Japan, Australia, and Singapore.
XTransfer has obtained local payment licenses in Hong Kong, the United Kingdom, the United States, Canada, and Australia. With more than 450,000 enterprise clients, XTransfer has become the industry No. 1 in China.
By cooperating with well-known multinational banks and financial institutions, XTransfer has built a unified global multi-currency clearing network and a data-based, automated, Internet-based, and intelligent anti-money laundering risk control infrastructure centred on small and medium enterprises.
XTransfer uses technology as a bridge to link large financial institutions and small and medium enterprises around the world, allowing SMEs to enjoy the same level of cross-border financial services as large multinational corporations.
XTransfer completed its Series D financing in September 2021 and achieved unicorn status.
XTransfer CEO Bill Deng Speaks
The company possesses a diverse composition of international investors, including D1 Capital Partners LP, Telstra Ventures, China Merchants Venture, eWTP Capital, Yunqi Capital, Gaorong Capital, 01VC, MindWorks, and Lavender Hill Capital Partners.
