Hong Kong – XTransfer, a leading B2B cross-border trade payment platform, has entered into a strategic partnership with Bank SinoPac’s Hong Kong Branch to expand international operations and offer integrated financial solutions for SMEs engaged in global trade.
The agreement, announced during Hong Kong FinTech Week 2025, aims to provide comprehensive services including global and local collections, foreign exchange conversion, and FX settlement.
Under the partnership, XTransfer will leverage Bank SinoPac Hong Kong Branch’s network and service capabilities to offer more than 700,000 customers global accounts, local currency accounts, and foreign exchange services.
“This collaboration with Bank SinoPac’s Hong Kong Branch marks a new starting point in advancing XTransfer’s services,” Bill Deng, founder and CEO of XTransfer, stated.
He added, “With more robust local collection and multi-currency settlement capabilities, we will make cross-border payments faster, cheaper, and more reliable, helping SMEs connect with global markets at lower costs and higher efficiency.”
The collaboration is planned in multiple phases, with future expansion expected in markets such as Vietnam, Taiwan, and the Chinese Mainland, enabling seamless settlement of foreign currency proceeds.
Local currency accounts services allow recipients to receive payments directly in their domestic currency, reducing the foreign exchange losses often incurred through intermediary banks. This approach also enables buyers to pay in their own local currencies, lowering remittance costs while improving cash flow and operational efficiency for both buyers and sellers.
“We look forward to this collaboration with XTransfer as it is not only a business alliance but our shared commitment to creating value for the market,” Lin Chia Yun, chief executive of Bank SinoPac Hong Kong Branch, commented.
“Through this partnership, we believe we can deliver better services and experiences to our customers while deepening our cooperation and creating more possibilities together.”
This collaboration enhances XTransfer’s service offerings while providing Bank SinoPac with opportunities to extend its business reach and engage a broader customer base.
By combining XTransfer’s market leadership in B2B cross-border payments with Bank SinoPac’s financial infrastructure, the collaboration is designed to deliver faster, more cost-effective, and reliable cross-border payment solutions.
