During “The Third Global Digital Trade Expo”, the “2024 Global Digital Trade Industry Enterprise 100” list was announced. XTransfer was selected for its technological innovation and leadership in B2B cross-border financial and risk control services. The company received the award on stage along with nine other outstanding enterprises, including Meridian Capital and LinkedIn. The award was presented by Mr. Ma Weiguang, Chairman of Hangzhou CPPCC, and Mr. Qian Houlin, Director of Forbes China Research Institute.
The Global Digital Trade Expo is co-hosted by the People’s Government of Zhejiang Province and the Ministry of Commerce, China. Co-organised by the Hangzhou Municipal People’s Government, the Department of Commerce of Zhejiang Province, and the Trade Development Bureau of the Ministry of Commerce, China. This expo is China’s only national, international, and professional trade show focusing on digital trade. XTransfer has been selected on the list, reflecting recognition of its contribution to the field of global trade digitisation and affirming the company’s potential for future development.
During the event, Leon Deng, Co-Founder and co-CGO of XTransfer, was invited to participate in the Forbes China Digital Trade Dialogue. He took part in the roundtable forum on “Global Digital Trade and Cross-border Operational Innovation,” where he discussed the new trend of digital trade development with leaders from companies like LinkedIn and UniUni.
The digitisation of global trade is an important trend in the current development of international trade. By using the internet, big data, cloud computing, artificial intelligence, and other technological means, trade efficiency can be improved, costs can be reduced, transparency can be enhanced, and trade facilitation can be promoted. Optimising cross-border settlement is an extremely important step in promoting trade facilitation. For SMEs, the efficiency of cross-border trade capital flow may directly affect the survival of the enterprises. XTransfer utilises AI, big data technology, and more to connect large financial institutions and SMEs in China and abroad, greatly improving the efficiency of cross-border trade capital flow.
Leon pointed out, “With the development of technology, the digital transformation of the whole chain of cross-border trade is an inevitable trend. In recent years, there has been a rise in eco-service providers for cross-border trade, encompassing logistics and marketing. These providers will leverage new technologies to offer more diverse and localised products and services to foreign trade enterprises. XTransfer aims to collaborate with these ecosystem service providers with an open and mutually beneficial approach. This collaboration will help foreign trade enterprises address cross-border settlement issues, enhance transaction efficiency, and ensure security and compliance by offering advanced cross-border payment and financial solutions.”
XTransfer focuses on building a one-stop B2B foreign trade finance platform, providing integrated solutions for foreign trade payment collection, multi-currency cash management, financing, and risk control services. Utilising advanced AI and big data technologies, XTransfer has built a data-driven, automated, Internet-enabled, and intelligent anti-money laundering risk control infrastructure centred on SMEs. Through cooperation with renowned multinational banks and financial institutions, XTransfer enables SMEs to enjoy cross-border financial services at the same level as those provided to large multinational companies.
Hashtag: #XTransfer #CrossBorder #Payment #SMEs
The issuer is solely responsible for the content of this announcement.
XTransfer, 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, Singapore, Vietnam, Thailand and Malaysia. XTransfer has obtained local payment licenses in Hong Kong, the United Kingdom, the United States, Canada, and Australia. With more than 550,000 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 built 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. 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.
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