Currently, the global trade pattern is accelerating towards diversification, and small and medium-sized foreign trade companies have become important entities in the real economy going overseas.
However, cumbersome cross-border settlement compliance procedures, low collection and payment efficiency, and insufficient global service coverage have long restricted the high-quality development of my country’s foreign trade.
At the 2026 European Money20/20 Fintech Summit, XTransfer, a B2B cross-border trade payment platform, announced a strategic cooperation with BBVA and Société Générale.
By focusing on the real pain points of market segments, the platform continues to improve its X-Net global unified cross-border settlement and risk control infrastructure, providing a new sample for the industry to explore the collaborative development of Yinke.
Accurately enter emerging markets and build Latin American cross-border payment infrastructure
As China-Latin America economic and trade cooperation continues to deepen, Latin America is becoming an important incremental market for my country’s foreign trade.
However, practical challenges such as differentiated foreign exchange control policies in Latin American countries, high thresholds for local account opening, and fragmented cross-border compliance approval systems have caused domestic small and medium-sized foreign trade companies to face long-term problems such as long overseas account opening cycles, complex compliance processes, and blocked fund settlements.
The trade potential of emerging markets has not been fully unleashed, reflecting structural shortcomings in cross-border payment infrastructure.
In response to the bottleneck in trade settlement between China and Latin America, on June 3, XTransfer founder and CEO Deng Guobiao signed a memorandum of cooperation with Ksenia Nekrasova, co-head of BBVA’s global technology, media and telecommunications (TMT) industry.
For XTransfer, this cooperation further expands the scope and service depth of its global cross-border trade settlement network and risk control system X-Net in the two key regions of Europe and Latin America.
Latin America is already a high-growth market for cross-border settlement of Chinese foreign trade companies. Relying on BBVA’s complete local network layout in Europe and Latin America, XTransfer can further expand its business coverage and enhance its market competitiveness.
Latin America has high financial territorial barriers and complex compliance systems, making it difficult for a single technology company to independently complete localized infrastructure layout.
This cooperation demonstrates an effective path for the deep integration of technological capabilities and local financial infrastructure, and provides a reference for cross-border payment companies to deeply explore emerging markets and serve the increase in foreign trade.
Adapt to the changes in the global supply chain and upgrade the integrated payment system
In the context of the diversified reconstruction of the global supply chain, the trade model of small and medium-sized foreign trade enterprises has been fully transformed, from deep cultivation in a single market to a parallel layout in multiple regions. The market’s requirements for cross-border payment services have been upgraded from basic compliance and security to high-efficiency, transparent, and intelligent full-link services.
However, there are common problems in the industry such as fragmented collection channels, opaque exchange rates and handling fees, unstable cross-border remittance timeliness, and cumbersome cross-jurisdictional compliance reviews. These problems continue to increase the operating costs of small and medium-sized foreign trade companies, making it difficult to adapt to the new trend of global trade.
In order to solve the problem of cross-border payment industry in multiple markets, XTransfer has reached an in-depth strategic cooperation with Société Générale.
It is understood that the two parties will jointly explore and create integrated cross-border financial solutions, including local collection and cross-border payment services, to assist foreign trade companies in collecting payments from overseas buyers in a more efficient and safer manner, while allowing global traders to achieve end-to-end payments more quickly and safely, directly to global suppliers.
This solution not only helps domestic export companies to efficiently complete overseas repayments, but also provides safe and convenient end-to-end payment services for global buyers to connect with Chinese suppliers.
According to reports, relying on Société Générale’s global transaction banking network, XTransfer continues to iterate the X-Net risk control and settlement system, effectively solving the pain points of fragmented collections under multi-regional trade, and promoting the digitalization and standardization of cross-border collection and payment services.
Coordinated layout internally and externally to lead the high-quality development of the industry
While globalization is accelerating, XTransfer is also deeply exploring the domestic market. On May 28, the company reached a strategic agreement with China CITIC Bank Hefei Branch
Cooperate to launch the first direct-connected clearing system for cross-border payment platforms in Anhui Province, realizing online automation of the entire process of cross-border RMB clearing, declaration, and accounting, effectively solving local pain points of small and medium-sized foreign trade companies such as card freezes, slow payment returns, and high settlement costs, assisting the large-scale application of cross-border RMB, and serving the RMB internationalization strategy.
The two-way layout at home and abroad complements each other and builds a complete service system of “global infrastructure + local implementation”.
Up to now, XTransfer has served more than 800,000 small and medium-sized foreign trade companies, with local collection accounts covering nearly 60 countries and regions, and payment services reaching more than 200 countries and regions. In 2025, the payment transaction volume will exceed 60 billion US dollars. With its leading risk control and infrastructure capabilities, it continues to consolidate the foundation of industry services.
Small and medium-sized foreign trade enterprises are the core entities for the stable growth of foreign trade. Serving small, medium and micro enterprises and solving real pain points is the core mission of the cross-border payment industry.
From an industry perspective, against the backdrop of tightening global regulation and continued iteration of trade models, the Yinke collaboration model is expected to become the mainstream development direction of the cross-border payment industry.
As the demand for foreign trade overseas continues to expand, the B2B cross-border payment industry relies on collaborative innovation to continuously improve the global cross-border payment infrastructure, which will more accurately empower small and medium-sized foreign trade companies to expand the global market and help the high-quality development of my country’s foreign trade real economy.
