Facilitating Cross-Border Remittances for Native SMEs
After acquiring the MPI license, XTransfer is about to introduce complete e-business pockets companies in Singapore. These will embrace seamless account opening, handy top-up choices, environment friendly foreign money alternate companies, and streamlined cross-border fund assortment and fee options tailor-made particularly for small and medium-sized enterprises (SMEs) engaged in international commerce. Leveraging our superior technological capabilities, rigorous threat administration practices, and strategic enterprise method, XTransfer goals not solely to boost commerce facilitation between SMEs in China and Singapore but additionally to facilitate clean international commerce transactions between Singaporean firms and their international counterparts.
Based in 2017, XTransfer is devoted to utilizing know-how to bridge giant monetary establishments and SMEs worldwide, offering them with safe, compliant, quick, handy and low-cost cross-border commerce fee & fund assortment options. With greater than 450,000 enterprise shoppers, XTransfer has turn into the business chief in China. Earlier this 12 months, the corporate formally launched its worldwide service. Buying and selling firms worldwide are actually beginning to use XTransfer, which helps sellers handle the difficult difficulty of fund assortment and in addition caters to the worldwide purchaser aspect. When each consumers and sellers use XTransfer accounts, they will obtain safe and compliant 24/7 fee settlement, doubtlessly saving 95% on remittance charges and 20% on foreign money conversion prices. This facilitates uninterrupted fund circulation all through the whole commerce course of.
“We’re thrilled to have acquired IPA from the MAS. This approval marks a pivotal second for us to strengthen our presence in Singapore and the area. Singapore, because the hub of Southeast Asia, enjoys a strategic geographic benefit, not solely as a world monetary centre but additionally as a number one centre of worldwide commerce, with one of many world’s top-ranked ports.” stated Invoice Deng, Founder and CEO of XTransfer, “Within the following interval, our focus can be on the immediate deployment of our localised options to cater the wants of Singaporean SMEs. Subsequently, our endeavour will lengthen to Southeast Asia, utilising know-how to assist SMEs effectively take part in international commerce and improve their international competitiveness.”
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XTransfer
XTransfer, World’s Main & China’s No.1 B2B Cross-Border Commerce Cost Platform, is devoted to offering SMEs with safe, compliant, quick, handy and low-cost international commerce fee & fund assortment options, considerably lowering the price of international growth and enhancing international competitiveness. Based in 2017, the corporate is headquartered in Shanghai and has branches in Hong Kong SAR, the UK, the Netherlands, america, Canada, Japan, Australia, and Singapore. XTransfer has obtained native fee licenses in Hong Kong, the UK, america, Canada, and Australia. With greater than 450,000 enterprise shoppers, XTransfer has turn into the business No.1 in China.
By cooperating with well-known multinational banks and monetary establishments, XTransfer has constructed a unified international multi-currency clearing community and constructed a data-based, automated, Web-based and clever anti-money laundering threat management infrastructure centred on small and medium enterprises. XTransfer makes use of know-how as a bridge to hyperlink giant monetary establishments and small and medium enterprises around the globe, permitting SMEs to get pleasure from the identical stage of cross-border monetary companies as giant multinational companies.
XTransfer accomplished its Sequence D financing in September 2021 and achieved unicorn standing. The Firm possesses a various composition of worldwide traders, together with D1 Capital Companions LP, Telstra Ventures, China Retailers Enterprise, eWTP Capital, Yunqi Capital, Gaorong Capital, 01VC, MindWorks and Lavender Hill Capital Companions.