Thunes, the global B2B payment infrastructure platform, has opened a new office in Beijing which will become the headquarters for its Greater China activity.

The firm has invested CNY100 million (approximately US$14 million) to establish Thunes China, which will serve as it’s registered entity in the country.

Thunes aims to provide efficient payment rails, enabling Chinese licensed institutions, such as banks, third-party payment service providers, e-commerce marketplaces, importers and exporters, to leverage Thunes’ global network capabilities and capacities.

It has already secured several strategic partnerships with China-based companies. This includes a partnership with Tencent Financial Technology, the fintech arm of Tencent in China, in 2022.

The company has reportedly become the first payment infrastructure partner connecting with Tencent which owns WeChat, allowing members of Thunes’ global network to send international payments to WeChat users.

Thunes said that it will invest heavily in building its team as it expects to more than double its current team in the region by employing around 60 people in the next 12 months.

Peter de Caluwe, CEO of Thunes said,

“Our decision to open an official office here was driven by several important factors, including the enormous economic potential of the Chinese market, the ever-increasing volume of cross-border transactions involving China, and the growing demand for efficient payment solutions.”

Daphne Huang, Senior Vice President for Asia Pacific and Greater China at Thunes said,

“Since our entry into China in late 2021, we have rapidly expanded our presence, and the establishment of Thunes China in Beijing marks a significant milestone in our commitment to the Chinese market. It further reinforces our dedication to localising Thunes’ products and services for our customers in this region.”