XTransfer participated in the Global Sources Consumer Electronics Show 2025 at AsiaWorld-Expo on April 11, 2025, to present its “Global Business Account” and “Local Currency Account” solutions. These services are designed to provide Hong Kong and global SMEs with faster, safer, and more affordable cross-border payment options via XTransfer cross-border payments.
XTransfer’s latest data showed a 300% year-over-year increase in collection volume from its Hong Kong clients trading with ASEAN, Africa, and Latin America. Nigeria recorded the highest growth. During this time, nearly 50% of the total collection volume from XTransfer’s Hong Kong clients came from these three regions.
Also, in Q1 2025, around 70% of all clients on the XTransfer platform were exported to Asia, Africa, or Latin America, highlighting a clear shift towards high-growth emerging markets.
XTransfer aims to support this trend by offering Hong Kong clients the “Global Business Account” and “Local Currency Account” to support via XTransfer cross-border payments.
Overall, the service would span over 30 countries and support more than 56 local currencies.
This service could solve the problem of limited US dollars in emerging markets and avoid foreign exchange losses from conversions through intermediary banks.
For overseas buyers, paying in local currencies also helps both parties save significantly on remittance costs. Additionally, XTransfer’s “Local Currency Account” support 24 types of local currency payments.
Bill Deng, Founder and CEO of XTransfer, said,
“We aim to help more Hong Kong enterprises adapt to the rapidly changing international trade environment, solve cross-border payment challenges, improve fund operation efficiency, and accelerate global business expansion.”
Back in September 2021, XTransfer completed its Series D financing, earning its unicorn status. The company has a diverse portfolio 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.
Source of image: Edited from XTransfer