XTransfer, the world’s leading B2B cross-border payment platform number 1 in China, and Ouribank, one of Brazil’s leading currency exchange banks, have entered into a global 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. Companies with an XTransfer account will be able to receive Pix transfers from Brazilian customers.
China has been Brazil’s most important trading partner since 2009 and is a major source of Foreign Investment in the country. 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 around 188 billion dollars.
When companies make cross-border payments, they often face challenges such as long sending times, high costs, and exchange rate losses. A study by EBANX and XTransfer showed that in Brazil, such a transaction can take up to 14 days to complete if done using conventional methods. This results in lower operational capacity for companies, inefficiency, and unexpected costs.
XTransfer is dedicated to providing safe, compliant, fast, convenient, and low-cost cross-border payment and collection solutions to international trade companies, significantly reducing the cost of global expansion and increasing global competitiveness. With over 600,000 corporate 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. It is a pioneer in eFX technology and has been working with some of the largest foreign exchange fintechs in Brazil with FXaaS solutions since 2019.
Both parties work together in Payment and Foreign Exchange Services. By integrating Ouribank’s infrastructure, XTransfer can now offer clients a wider range of local payment and fund collection options. Global international trade companies with an XTransfer account can now receive payments in Brazilian Real (BRL) from their Brazilian consumers, who can pay Chinese and global suppliers in BRL via PIX without the complexities of exchange.
The new partnership between XTransfer and Ouribank benefits not only global international trade companies involved in Latin American markets, but also Brazilian companies working with international suppliers, especially those from China. This collaboration helps simplify and promote Brazil’s cross-border business transactions.
For Bill Deng, founder and CEO of XTransfer, “The partnership with Ouribank marks a significant milestone in our expansion into the markets of Brazil and Latin America. This collaboration not only boosts XTransfer’s global growth but also transforms the business experience of Latin American SMEs. 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 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 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.”
