XTransfer, the cross-border B2B commerce payment platform that is the world leader and number one in China, and Ouribank, one of Brazil's leading foreign exchange banks, have established a comprehensive 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.
XTransfer is dedicated to providing foreign trade companies with secure, compliant, fast, convenient, and low-cost cross-border payment and fund collection solutions, significantly reducing the cost of global expansion and increasing global competitiveness. With over 600,000 corporate clients, XTransfer has become the number one in the sector in China.
Four decades of experience have made Ouribank a reference in the foreign exchange market. He 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 clients a wider 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 currency exchange.
In addition to traditional trade clients, XTransfer has established relationships with the leading e-commerce platforms in Latin America. For e-commerce clients, XTransfer's partnership with Ouribank allows them to receive payments from Brazil through the XTransfer account, especially for Chinese customers, who can easily transfer the 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 main sources of foreign investment. Brazil was the first country in Latin America to surpass US$ 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 by 3.5% year-on-year, totaling around US$ 188 billion.
When companies engage in cross-border payments, they often face challenges such as long transfer times, high costs, and losses due to exchange rate fluctuations. 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 in China. This collaboration helps to simplify and promote Brazil's cross-border trade transactions.
Bill Deng, founder and CEO of XTransfer, commented on the partnership, stating: "The partnership with Ouribank represents a significant 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 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 currency 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 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 have built over more than four decades. We are confident that our partnership with XTransfer will bring significant value to markets across Latin America."
