XTransfer has entered into a collaboration with Bank SinoPac, through its Hong Kong Branch, to expand international operations and provide SMEs with comprehensive cross-border financial solutions.

The partnership was formalised with the signing of a memorandum of understanding between XTransfer Founder and CEO Bill Deng and Bank SinoPac Hong Kong Branch Chief Executive Lin Chia Yun during Hong Kong FinTech Week 2025.

Under the agreement, the two parties will work together to strengthen XTransfer’s cross-border payment capabilities.

In the first phase, with support from Bank SinoPac Hong Kong Branch’s network and services, XTransfer will offer over 700,000 clients access to Global Accounts, Local Currency Accounts, and foreign exchange (FX) services.

The collaboration also plans to expand into Vietnam, Taiwan, and other markets, enabling customers to settle foreign currency proceeds to mainland China.

Through the Local Currency Accounts service, XTransfer clients can receive payments directly from buyers in their respective currencies, reducing foreign exchange losses caused by intermediary bank conversions.

Buyers can also make payments in their local currencies, lowering remittance costs and improving transaction efficiency and cash flow.

Bill Deng said,

“By strengthening local collection and multi-currency settlement capabilities, we aim to make cross-border payments faster, cheaper, and more reliable for SMEs while maintaining strong compliance and risk management standards.”

Lin Chia Yun commented,

“This collaboration with XTransfer reflects our shared commitment to creating value for businesses. Through joint efforts, we aim to deliver improved services and experiences for our clients and continue exploring further cooperation opportunities.”

Featured image credit: XTransfer