XTransfer Showcases New Cross-Border Payment Solution at Canton Fair to Empower Global Trade
At the 137th Canton Fair, XTransfer, the world’s leading and China’s No.1 B2B Cross-Border Trade Payment Platform, introduced its innovative Local Currency Account — a solution poised to transform global trade, particularly with emerging markets.
Recognized as a key indicator of China’s international trade activity, the Canton Fair hit record-breaking attendance and scale this year, drawing global businesses and buyers. XTransfer’s participation reflects its dedication to supporting Chinese SMEs by streamlining transactions with rapidly growing economies across Asia, Africa, and Latin America.
The Local Collection Account directly tackles major pain points in cross-border payments — such as high transaction costs, lengthy settlement times, and account freezes due to perceived risks. By allowing buyers to make payments in their own currencies through local clearing systems, the solution eliminates the need for intermediary banks, slashes fees, and expedites payment processing — with settlements completed as fast as the same business day.
“As a small business trading with Africa, we used to face serious challenges when buyers couldn’t send USD payments through traditional banks,” shared Li Pengsen, Chairwoman of Hebei Ovison Industrial Group. “XTransfer’s Local Currency Accounts made it easy and safe for our African clients to pay directly into our Chinese accounts, without currency hurdles or banking delays.”
Since launching the service in 2018, XTransfer has led the way in local collection innovation. Today, it supports over 30 global and local currencies and operates in more than 200 countries and regions. Key markets include Kenya, Nigeria, Brazil, Mexico, Indonesia, and the Philippines. Serving over 600,000 Chinese exporters, it has become the largest B2B cross-border financial platform in China.
“Trading with emerging markets presents huge growth opportunities, but payment friction often holds businesses back,” said Bill Deng, Founder and CEO of XTransfer. “Our mission is to remove those obstacles and make global trade more inclusive, efficient, and secure.”
As the Canton Fair continues to drive international trade and cooperation, XTransfer stands as a leader in financial technology, fostering seamless trade connections between Chinese exporters and emerging-market buyers around the globe.