The cross-border relationship between Yuxin Technology and Coral has advanced from strategic cooperation to the equity level.
Recently, Hangzhou Mumin Network Technology Co., Ltd., the entity of Coral Cross-border, has changed its shareholders and registered capital.
EGPHK II LIMITED withdrew from the list of shareholders. Mingyu Venture Capital II Co., Ltd. and Beijing Yuxin Technology Group Co., Ltd. were added as shareholders. The company’s registered capital increased from 31.899174 yuan to 33.578078 yuan.
Among them, Beijing Yuxin Technology Group Co., Ltd. subscribed for 1.678904 yuan, with a shareholding ratio of 5%.
Yuxin Technology and Coral Cross-border signed a strategic cooperation agreement as early as January 29. The cooperation direction covers global trade payment infrastructure, trade finance value-added services, cross-border payment intelligent risk control, digital currency applications, Southeast Asian financial technology, AI cross-border overseas marketing, etc.
Three months later, Yuxin Technology entered the shareholder list of Hangzhou Mumin Network Technology Co., Ltd., and the relationship between the two parties further deepened.
As an A-share listed financial IT company, stock code 300674, Yuxin Technology has long-term services to banks, non-bank financial institutions and overseas financial institutions.
Its business covers banking technology solutions, non-bank technology solutions and innovative operation services. Its products involve customer business, channels, operations, management, credit, risk control, regulatory reporting, data intelligence and other fields.
Traditionally, financial IT companies have provided services behind financial institutions, but cross-border trade capital services have provided them with new scenarios.
Cross-border trade companies face many specific issues such as collection, payment, exchange, settlement, reconciliation, fund collection, supplier payment, platform repayment, exchange rate risk, trade authenticity review, compliance review, etc. These issues have the attributes of payment, banking technology, data risk control and trade finance.
For companies like Yuxin Technology, Coral cross-border connects a group of merchants, platform sellers, foreign trade companies and small and medium-sized trading entities that are going overseas.
After financial IT capabilities enter the cross-border trade capital service scenario, more integration points can be extended.
For example, there is account management behind cross-border receipts and payments, exchange and risk management behind multi-currency funds, supply chain finance behind trade payments, anti-fraud and anti-money laundering systems behind abnormal transaction identification, and local financial institutions and compliance service networks behind companies going global.
Coral Cross-border is affiliated to Hangzhou Mumin Network Technology Co., Ltd. and is headquartered in Hangzhou Cross-border E-Commerce Comprehensive Pilot Zone, China.
According to its official website, the company is committed to providing comprehensive service solutions for cross-border trade. It currently has branches in Hong Kong, Southeast Asia, North America, Europe, Africa, etc., and its business covers more than 100 countries and regions.
Its services include cross-border e-commerce payment collection, foreign trade B2B, foreign exchange risk management solutions, coral cards, global payments, etc. Its corresponding customers include platform sellers, foreign trade B2B companies, overseas merchants, foreign trade factories and more cross-border trade entities.
Competition in the cross-border payment industry is extending from channel coverage, rates, platform account opening speed, account arrival efficiency and currency support range to compliance, risk control, trade finance and localized service capabilities.
The cross-border cooperation between Yuxin Technology and Coral mainly lies in the coordination of financial IT capabilities and cross-border trade capital services.
This small-proportion strategic investment by Yuxin Technology does not involve changes in the cross-border control rights of Coral. The subsequent synergy between the two parties will depend on product co-construction, customer transformation, regional market expansion and bank cooperation promotion.
Yuxin Technology’s investment in Coral Cross-border shows that cross-border payments and corporate overseas financing services are entering the business vision of financial technology companies. It also reflects the change in the position of financial IT companies. From serving more financial institution systems, it is beginning to be closer to cross-border trade, corporate overseas and capital management scenarios.
