XTransfer, the world-leading and China’s No. 1 cross-border B2B trade payment platform, and Ouribank, one of Brazil’s top foreign exchange banks, have formed a comprehensive partnership. This collaboration aims to reduce the cost and processing time of cross-border payments for XTransfer’s customers, particularly benefiting Chinese and global merchants with significant markets in Latin America.
XTransfer is dedicated to providing foreign trade enterprises with secure, compliant, fast, convenient, and low-cost cross-border payment and fund collection solutions, significantly reducing the cost of global expansion and enhancing global competitiveness. With over 600,000 corporate clients, XTransfer has become the industry leader in China.
Four decades of experience have made Ouribank a benchmark in the foreign exchange market. It is one of the pioneers of eFX technology and has been working with some of Brazil’s largest foreign exchange fintechs with FxaaS solutions since 2019.
The two parties collaborate on payment and foreign exchange services. By integrating Ouribank’s infrastructure, XTransfer can now provide customers with a broader range of local payment and fund collection options. Global foreign trade companies with an XTransfer account can now receive payments in Brazilian reais (BRL) from their Brazilian buyers. Buyers in Brazil and Latin America can now pay Chinese and global suppliers in reais via PIX, without the complexities of foreign exchange.
In addition to traditional trade clients, XTransfer has established relationships with major e-commerce platforms in Latin America. For e-commerce clients, XTransfer’s partnership with Ouribank enables them to receive payments from Brazil through their XTransfer account, especially for Chinese clients, who can easily transfer received funds to their domestic accounts via XTransfer.
According to data, China has been Brazil’s most important trading partner since 2009 and is one of the country’s primary sources of foreign investment. Brazil was the first Latin American country to exceed $100 billion in exports to China and is China’s largest trading partner in Latin America. In 2024, China’s bilateral trade with Brazil grew 3.5% year-on-year, totaling approximately $188 billion.
When companies engage in cross-border payments, they often face challenges such as long remittance times, high costs, and exchange rate losses. The new partnership between XTransfer and Ouribank benefits not only global foreign trade companies involved in Latin American markets but also Brazilian companies working with international suppliers, especially in China. This collaboration helps simplify and promote Brazil’s cross-border trade transactions.
Bill Deng, founder and CEO of XTransfer, commented on the partnership, stating: ‘Partnering with Ouribank represents a significant milestone in our expansion into Brazil and Latin American markets. This collaboration not only drives XTransfer’s global growth but also transforms the trading experience for Latin American small and medium-sized enterprises. We look forward to the long-term success of this alliance.’
Bruno Luigi Foresti, director of Ouribank, said: ‘In the foreign exchange and payments segment, we serve businesses of all sizes, from small entrepreneurs to large corporations, including international financial institutions offering payment services in Brazil. With the Hub, we are advancing in the payment technology sector, delivering solutions that reduce friction in international transactions without compromising the tradition and expertise we’ve built over more than four decades. We are confident that our partnership with XTransfer will bring significant value to markets across Latin America.’
