December 10, 2024

XTransfer and Banking Circle announce strategic partnership

XTransfer and Banking Circle announce strategic partnership
24/7 Real-time online currency exchange from XTransfer Image taken from XTransfer website

XTransfer, the leading B2B cross-border payment platform from China, and Banking Circle, the innovative tech-driven Payments Bank, have entered into a strategic partnership. This collaboration aims to reduce the cost and processing time of cross-border payments for XTransfer’s clients, particularly benefiting Chinese suppliers with significant markets in Europe and the Middle East.

Logos taken fro XTransfer and Banking Circle websites

Both XTransfer and Banking Circle are committed to minimising the cost associated with global trade payments. XTransfer focuses on providing SMEs with secure, compliant, fast, and cost-effective cross-border payment and fund collection solutions, thereby enhancing global competitiveness, and facilitating international expansion. Banking Circle, has established a comprehensive local clearing network for major currencies and an effective FX engine supporting 24 currencies, ensuring quick, low-cost payments without hidden fees.

Through the integration of Banking Circle’s infrastructure, XTransfer can now offer its clients a broader array of local payment and fund collection options. Clients will be able to receive payments not only in major currencies like the US Dollar, Euro, GBP, and Danish Krone, but also in six additional currencies in Europe and the Middle East. This partnership is expected to expand further, with plans to introduce even more currency options in the near future.

This development is particularly advantageous for businesses dealing with Chinese suppliers. Buyers in Europe and the Middle East will have the convenience of paying Chinese suppliers in a wider range of local currencies.

Bill Deng, Founder and CEO of XTransfer
Bill Deng, Founder and CEO of XTransfer
Image taken from LinkedIn profile

Bill Deng, Founder and CEO of XTransfer, commented on the partnership: “Our alliance with Banking Circle represents a significant step forward in our expansion into the European and Middle Eastern markets. This partnership not only accelerates XTransfer’s global ambitions but also promises to revolutionize the international trade landscape for businesses. We are eager to see the continued success of this collaboration.”

Laust Bertelsen, Co-Founder and CEO of Banking Circle
Laust Bertelsen, Co-Founder and CEO of Banking Circle
Image taken from LinkedIn profile

Laust Bertelsen, Co-Founder and CEO of Banking Circle, added: “We are thrilled to support XTransfer’s vision for global trade. By leveraging Banking Circle’s accounts and payment rails, XTransfer can streamline the payment process for its clients, reducing both costs and transaction times.”

Source

Interested to know about companies which offer cross border payment solutions? Then please visit

WorldFirst launches WorldTrade, new payment solutions for SME in international trade

TerraPay Appoints Louise Brett as Independent Director

LemFi receives USD 33 Million investment to enhance its services

(Visited 53 times, 1 visits today)

Share:

Facebook
Twitter
WhatsApp
LinkedIn

 

Comments are closed.

Social Media

Most Popular

LRMF missile
Aerojet Rocketdyne joins Lockheed Martin to develop LRMF missile
Maria Jackson
BOURNEWOOD HEALTH SYSTEMS onboards Maria Jackson as CEO
Tahini located in the vibrant One Central.
GRIT Hospitality launches Tahini in Dubai
3D-Systems-EXT-1070-Titan-Pellet-printer
3D Systems and SWANY partnership to promote large-format pellet extrusion 3D printing

Related Posts