Global fintech unicorn, XTransfer, renowned for its B2B Cross-Border Trade Payment Platform, has announced its ambitious expansion into over 200 countries with a focus on supporting Micro-, Small and Medium-sized Enterprises (MSMEs). The Shanghai-based company aims to dominate the cross-border trade realm, providing secure, compliant, and efficient payment solutions.
XTransfer Launches International Services Globally
In an aggressive push to expand its services, XTransfer has launched its international services to over 200 countries, following its successful premiere in Hong Kong last year. Subsequent launches have been received with enthusiasm, with over 1,000 overseas trading enterprises already benefitting from the service, and around thirty thousand businesses seeking account opening consultations. The global expansion will continue into 2024, covering almost all regions of the world.
XTransfer’s Innovative Solutions for Global MSMEs
XTransfer is not only facilitating cross-border payments between various countries and China but aims to establish a global payment infrastructure. The mission is to aid MSMEs from emerging countries by building a data-based, automated, AI-based anti-money laundering risk management infrastructure. Their innovative solution has garnered trust from international financial institutions like J.P. Morgan Chase Bank and Deutsche Bank, empowering MSMEs to open accounts with reputable financial institutions via the XTransfer platform.
XTransfer’s Impact on Cross-Border Trade
By using XTransfer accounts, businesses can enjoy secure, 24/7 payment settlement, likely to minimize remittance fees by 95% and currency conversion cost by 20%. The ultimate aim is to ensure seamless trade capital flow, allowing SMEs to enjoy the same level of cross-border financial services as multinational corporations. XTransfer predicts potential savings up to 10% on trade costs across the entire chain for its service users.
In summary, XTransfer’s global expansion is a significant development in easing cross-border transactions and supporting MSMEs. By providing secure, cost-effective and efficient solutions, the company is leveling the playing field for smaller enterprises, allowing them to compete with larger multinational corporations on the global stage.
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