In 2026, Hangzhou’s cross-border payment companies have taken solid steps in the global market and ushered in double breakthroughs.
Local companies PingPong and Lianlian Digital have successively won international cooperation results and key financial licenses, fully demonstrating Hangzhou’s strong capabilities in cross-border services.
First, let’s look at the strategic cooperation between PingPong and the Bank of Thailand.
Recently, at the Money20/20 Asia Summit (Bangkok, Thailand), PingPong officially signed a strategic cooperation agreement with Kasikornbank Group (KASIKORNBANK, referred to as KBank), one of the four major commercial banks in Thailand.
The two parties will achieve deep embedding and two-way empowerment through API direct connection, integrating PingPong’s payment service network covering more than 200 countries and regions around the world, and KBank’s local banking infrastructure that has been cultivated in Southeast Asia for more than 80 years.
It is worth mentioning that KBank has been deeply involved in China for 30 years and has branches in important cities such as Shanghai, Beijing, Chengdu, Shenzhen and Hong Kong.
Through this cooperation, KBank will be able to directly access PingPong’s global payment network and technological capabilities, and global corporate customers on the PingPong platform will also have seamless access to KBank’s local financial services in Thailand and Southeast Asia.
In the future, the two parties will jointly evaluate and develop one-stop, full-scenario cross-border payment services to achieve smooth and efficient transactions while ensuring compliance, and provide safer and more reliable financial support for enterprises to expand in regional and global markets at reasonable costs and excellent operational efficiency.
Let’s talk about the progress of consecutive numbers.
Recently, Lianlian Digital announced that it has obtained the DFSA Category 3D payment license issued by the Dubai Financial Services Authority, the regulatory agency of the Dubai International Financial Center (DIFC).
This is another key breakthrough for Lianlian Digital in the global compliance landscape, marking that its localized layout in the Middle East market has officially entered the licensed operation stage.
After the payment license is issued, Lianlian Digital can rely on local licensed entities to build a compliance operation infrastructure in the Dubai International Financial Center, cooperate with local banks, open customer fund accounts, and further improve its fund processing and cross-border settlement capabilities in the Middle East.
On this basis, Lianlian Digital will rely on cooperative banks and licensed systems to provide customers with more localized fund collection and payment solutions: not only supporting corporate fund collection and payment and account system management in the Middle East, but also achieving seamless connection and efficient distribution with cross-border capital flows.
Through the continuous optimization of capital paths and settlement links, the overall transaction efficiency and stability will be significantly improved, thereby better supporting Chinese companies to expand the Middle East market and helping Middle Eastern companies connect to global businesses.
Up to now, Lianlian Digital has established a compliance system consisting of 68 global payment licenses and related qualifications, covering multiple core markets such as mainland China, Hong Kong, Singapore, the United States, the United Kingdom, and Luxembourg. It has also established overseas offices in 13 countries and regions, forming a global payment network covering more than 100 countries and regions.
The internationalization progress of the two major companies is not only the result of Hangzhou’s cross-border payment companies’ continuous exploration of the global market, but also provides a safer, more efficient and low-cost capital channel for Chinese cross-border trade companies.
In the future, Hangzhou cross-border payment companies will continue to help Chinese and foreign companies unblock capital links and expand global business opportunities.
