A XTransfer, the cross-border B2B commerce payment platform that is the world leader and number 1 in China, and Ouribank, one of the main exchange banks in Brazil, they 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 traders who have significant markets in Latin America
XTransfer is dedicated to providing foreign trade companies with secure cross-border payment and fund collection solutions, in accordance, fast, convenient and low cost, significantly reducing the cost of global expansion and increasing global competitiveness. With more than 600.000 business clients, XTransfer has become the number 1 in the sector in China
Four decades of experience have made Ouribank a reference in the currency exchange market. He is one of the pioneers of eFX technology and works with some of the largest currency fintechs in Brazil with FxaaS solutions since 2019
The two parties work together in payment and exchange services. When integrating the infrastructure of Ouribank, XTransfer can now provide customers with 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 the exchange rate
In addition to traditional retail customers, XTransfer has established relationships with major e-commerce platforms in Latin America. For e-commerce clients, the partnership between XTransfer and Ouribank allows them to receive payments from Brazil through the XTransfer account, especially for Chinese clients, that can easily transfer the received funds to their domestic accounts through XTransfer
According to data, China has been Brazil's most important trading partner since 2009 and is one of the main sources of foreign investment in the country. Brazil was the first country in Latin America to exceed US$ 100 billion in exports to China and is the largest trading partner of the Chinese in Latin America. In 2024, bilateral trade between China and Brazil grew 3,5% year-on-year comparison, adding about US$ 188 billion
When companies engage in cross-border payments, often face challenges such as long shipping times, high costs and losses with the exchange rate. The new partnership between XTransfer and Ouribank benefits not only the global foreign trade companies involved in the Latin American markets, but also Brazilian companies that work with international suppliers, especially in China. This collaboration helps to simplify and promote cross-border trade transactions from Brazil
Bill Deng, founder and CEO of XTransfer, commented on the partnership, stating: "The partnership with Ouribank represents an important milestone in our expansion in the markets of Brazil and Latin America. This collaboration not only drives the global growth of XTransfer, but also transforms the business experience for small and medium-sized Latin American companies. We eagerly await 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.”
