XTransfer, the world's leading B2B cross-border payment platform and China's number one, and Ouribank, one of Brazil's main foreign exchange banks, have announced a global partnership. This collaboration aims to reduce the cost and processing time of cross-border payments for XTransfer customers, particularly benefiting Chinese and global merchants with significant markets in Latin America. Companies with an XTransfer account will be able to receive Pix transfers from Brazilian clients.
China has been Brazil's most important trading partner since 2009 and is one of the country's main sources of Foreign Investment. Brazil was the first Latin American country to surpass 100 billion dollars in exports to China and is China's largest trading partner in Latin America. In 2024, China's bilateral trade with Brazil grew by 3.5% year-on-year, reaching approximately 188 billion dollars.
When companies make cross-border payments, they often face challenges such as long processing times, high costs, and currency exchange losses.A study by EBANX andXTransfershowed that, in Brazil,a transaction of this type can take up to 14 days to completeif done using conventional methods. This translates into lower operational capacity of companies, inefficiency, and unexpected costs.
XTransfer is dedicated to providing foreign trade companies with secure, compliant, fast, convenient, and low-cost cross-border payment and collection solutions, significantly reducing the cost of global expansion and increasing global competitiveness. With more than 600,000 clients, XTransfer has become the number 1 in the industry in China.
Four decades of experience have made Ouribank a reference in the foreign exchange market. She is one of the pioneers of eFX technology and has been working with some of the largest foreign exchange fintechs in Brazil with FxaaS solutions since 2019.
The two parties work together in Payment and Exchange Services. By integrating Ouribank's infrastructure, XTransfer can now offer customers a wider range of local payment and fund collection options. Global foreign trade companies with an XTransfer account can now receive payments inBrazilian Real (BRL) of its Brazilian consumers, who can pay Chinese and global suppliers in BRL via PIXwithout the currency complexities.
The new partnership between XTransfer and Ouribank benefits not only the global foreign trade companies involved in Latin American markets but also Brazilian companies working with international suppliers, especially those from China. This collaboration helps to simplify and promote cross-border commercial transactions in Brazil.
For Bill Deng, Founder and CEO of XTransfer,“The partnership with Ouribank marks an important milestone in our expansion into the Brazilian and Latin American markets. This collaboration not only drives XTransfer’s global growth, but also transforms the business experience for Latin American SMEs. We look forward to the long-term success of this alliance.”
Bruno Louis Foresti, Chief Executive Officer of Ouribank, said:“In the foreign exchange and payments segment, we serve companies of all sizes, from small entrepreneurs to large corporations, including international financial institutions that offer payment services in Brazil. With Hub, we are advancing in the payments technology sector, offering solutions that reduce friction in international transactions without compromising the tradition and experience we have built over more than four decades. We are confident that our partnership with XTransfer will bring significant benefits to both organizations.”
