XTransfer and Ouribank Join Forces to Empower Businesses and Boost Cross-border Trade in Brazil
SAO PAULO, March 13, 2025 /PRNewswire/ -- XTransfer, the world-leading and China's No.1 B2B Cross-Border Trade Payment Platform, and Ouribank, one of Brazil's leading foreign exchange banks, have entered into a comprehensive partnership. This collaboration aims to reduce the cost and processing time of cross-border payments for XTransfer's clients, particularly benefiting Chinese and global traders 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 enhancing global competitiveness. With more than 600,000 enterprise clients, XTransfer has become the industry No.1 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 worked with some of the largest foreign exchange fintechs in Brazil with FxaaS solutions since 2019.
The two parties work together in payment and foreign exchange services. By integrating Ouribank's infrastructure, XTransfer can now provide clients 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 Real (BRL) from their Brazilian buyers. Buyers in Brazil and Latin America can now pay Chinese and global suppliers in BRL via PIX without the foreign exchange complexities.
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 allows them to receive payments from Brazil through the XTransfer account, especially for Chinese clients, who 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 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 by 3.5% year-on-year to reach around USD 188 billion.
When businesses engage in cross-border payments, they often encounter challenges such as lengthy remittance times, high costs, and exchange rate losses. The new partnership between XTransfer and Ouribank benefits not only global foreign trade companies engaged in Latin American markets but also Brazilian businesses working with international suppliers, especially those in China. This collaboration helps simplify and promote Brazil's cross-border trade transactions.
Bill Deng, Founder and CEO of XTransfer, remarked on the partnership, stating, "Partnering with Ouribank marks a major milestone in our expansion across Brazil and Latin American markets. This collaboration not only drives XTransfer's global growth but also transforms the trade experience for 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 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 payments 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 throughout Latin America."
About XTransfer
XTransfer, the world-leading and China's No.1 B2B Cross-Border Trade Payment Platform, is dedicated to providing small and medium-sized enterprises (SMEs) with secure, compliant, fast, convenient and low-cost foreign trade payment and fund collection solutions, significantly reducing the cost of global expansion and enhancing global competitiveness. Founded in 2017, the company is headquartered in Shanghai and has branches in Hong Kong SAR, the United Kingdom, the Netherlands, the United States, Canada, Australia, Singapore, Vietnam, Thailand, Malaysia, the Philippines, the UAE, and Nigeria. XTransfer has obtained local payment licences in Mainland China, Hong Kong SAR, Singapore, the United Kingdom, the United States, Canada, and Australia. With more than 600,000 enterprise clients, XTransfer has become the industry No.1 in China.
By cooperating with well-known multinational banks and financial institutions, XTransfer has built a unified global multi-currency clearing network and built a data-based, automated, internet-based and intelligent anti-money laundering risk control infrastructure centred on SMEs. XTransfer uses technology as a bridge to link large financial institutions and SMEs around the world, allowing SMEs to enjoy the same level of cross-border financial services as large multinational corporations.
XTransfer completed its Series D financing in September 2021 and achieved unicorn status. The Company possesses a diverse composition of international investors, including D1 Capital Partners LP, Telstra Ventures, China Merchants Venture, eWTP Capital, Yunqi Capital, Gaorong Capital, 01VC, MindWorks and Lavender Hill Capital Partners.
For more information, please visit: https://www.xtransfer.com/
About Ouribank
Ouribank is your go-to partner to expand boundaries in Brazil. With over 40 years of experience, it has already served more than 500,000 clients and carried out over 1 million foreign exchange transactions. In 2024 alone, it transacted more than 29 billion dollars. These figures highlight our commitment to transparency, integrity, and innovation, ensuring excellence in personalized service and efficiency at every stage.
Today, Ouribank is divided into two business units: the Bank, which is a reference in specialized foreign exchange services, and the Solutions Hub, which offers a broad range of digital financial products. Within the Hub, we highlight the FX & Payments unit, featuring increasingly efficient, integrated, and automated digital journeys. This initiative utilizes cutting-edge technology to digitize and simplify the process of international payments and transfers, connecting our clients to the global market. Ouribank's history is marked by a constant drive to innovate, enhance efficiency, and exceed the expectations of those who trust in our services.
SOURCE XTransfer
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