XTransfer Joins the Middle East Delegation of Hong Kong SAR

Explores Local Development Opportunities

HONG KONG SAR - Media OutReach Newswire - 16 May 2024 - XTransfer, World's Leading & China's No.1 B2B Cross-Border Trade Payment Platform, was invited to join the Hong Kong SAR delegation to visit the Middle East last week. The visit aimed to engage in discussions with local governments and financial institutions, exploring financial cooperation and development between Hong Kong and the Middle East.

The delegation was led by the Hong Kong Financial Services and the Treasury Bureau, the Hong Kong Financial Services Development Council, and Invest Hong Kong. Under Secretary for Financial Services and the Treasury of HKSAR, Joseph Chan, Executive Director of Financial Services Development Council, King Au, Global Head of Financial Services and Fintech of Invest Hong Kong, King Leung, and Head of Fintech of Cyberport, Victor Yim, were among the attendees. Neil Ni, Head of XTransfer Hong Kong Branch, participated as a member of the delegation.

The Middle East presents booming business opportunities and enormous market potential. Hong Kong plays a crucial role in the Belt and Road cooperation between the Middle East and China, serving as a significant bridge for economic exchanges. During the visit, XTransfer joined a delegation of over 50 representatives from the financial and fintech industries. The activities included participating in the Dubai Fintech Summit, meetings with the Department of Economic Development and Tourism in Dubai, and the Abu Dhabi Global Market.

Head of XTransfer Hong Kong Branch, Neil Ni, stated, "We are honoured to participate in this exchange activity, which provides us with an opportunity to gain an in-depth understanding of the Middle Eastern market and explore business collaboration opportunities. Apart from actively engaging with local government agencies during the visit, we also had in-depth discussions on cooperation opportunities with local virtual banks and payment institutions. Our company is actively setting up offices in the Middle East and applying for local payment licenses. With the accelerated pace of XTransfer's internationalisation, SME foreign trade enterprises worldwide, including those in the Middle East, will enjoy a secure, convenient, and cost-effective cross-border payment solution. XTransfer will continue to be rooted in Hong Kong and leverage its strengths to contribute to global trade development."
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About XTransfer

XTransfer, World's Leading & China's No.1 B2B Cross-Border Trade Payment Platform, is dedicated to providing SMEs with secure, compliant, fast, convenient and low-cost foreign trade payment & fund collection solutions, significantly reducing the cost of global expansion and enhancing global competitiveness. Founded in 2017, the company is headquartered in Shanghai and has branches in Hong Kong, the United Kingdom, the Netherlands, the United States, Canada, Japan, Australia, and Singapore. XTransfer has obtained local payment licenses in Hong Kong, the United Kingdom, the United States, Canada, and Australia. With more than 450,000 enterprise clients, XTransfer has become the industry No.1 in China.

By cooperating with well-known multinational banks and financial institutions, XTransfer has built a unified global multi-currency clearing network and built a data-based, automated, Internet-based and intelligent anti-money laundering risk control infrastructure centred on small and medium enterprises. XTransfer uses technology as a bridge to link large financial institutions and small and medium enterprises around the world, allowing SMEs to enjoy the same level of cross-border financial services as large multinational corporations.

XTransfer completed its Series D financing in September 2021 and achieved unicorn status. The Company possesses a diverse composition of international investors, including D1 Capital Partners LP, Telstra Ventures, China Merchants Venture, eWTP Capital, Yunqi Capital, Gaorong Capital, 01VC, MindWorks and Lavender Hill Capital Partners.

For more information, https://www.xtransfer.com/