Highlighting Financial Risk Control Innovations, Actively Exploring Regional Collaboration Opportunities

SINGAPORE - 13 November 2024 - XTransfer, the World's Leading & China's No.1 B2B Cross-Border Trade Payment Platform, attracted extensive attention last week at the Singapore Fintech Festival 2024.

The event attracted a large number of visitors to XTransfer's booth, where the company showcased its innovative cross-border payment solutions and advanced AI risk control technology. XTransfer solutions streamline the settlement process for B2B cross-border trade, significantly reduce costs, and enhance trade efficiency. Representatives from various foreign trade companies, banks, financial institutions, and government agencies visited the booth to learn more about XTransfer's offerings.

As one of the main official sponsors of the event, the company actively engaged in various activities. Bill Deng, Founder and CEO of XTransfer, participated in multiple roundtable discussions and met with representatives from Singapore and other governments, industry peers, and international financial institutions. He also served as a guest speaker at two stages. During the event, representatives from various banks and financial institutions, including Barclays, VISA, OCBC Bank, Maybank, and CIMB, visited XTransfer's booth to learn more about the company. XTransfer actively seeks collaboration with banks and financial institutions from Singapore and the region, aiming to provide efficient, customised cross-border payment solutions for SMEs in the area, facilitate trade between Chinese and Singaporean SMEs, and support foreign trade transactions for Singaporean enterprises in various countries.

During the speech titled "Payment Solutions in the Era of Globalization: How Cross-Border Transactions for Businesses Are Facilitated", Bill stated, "Despite current news and trends regarding deglobalisation, I still believe in the benefits of globalisation for the world economy. This is particularly true for SMEs involved in foreign trade, which drive globalisation forward day by day." Bill also emphasised, "At the beginning of XTransfer's establishment, we developed an anti-money laundering (AML) risk control infrastructure specifically for SMEs. By efficiently utilising AI and big data technology, assisting international banking institutions in connecting with foreign trade SMEs and providing them with streamlined cross-border financial services while ensuring secure and compliant trade practices."

During the "Global Fintech Innovation: Insights from China" panel, Bill discussed China's role in Southeast Asia and other emerging markets. He noted, "Trade between the two regions has always been robust, especially following the signing of the Regional Comprehensive Economic Partnership (RCEP), further strengthening the connection between China and Southeast Asia. We are committed to supporting SMEs in the region. Through close collaboration with internationally renowned banks, XTransfer offers global business account and local currency account services. We have also introduced the innovative "XTransfer-to-XTransfer Payment" (X2X Payment) service, which allows zero transaction fees and instant payments. This facilitates cross-border transactions for buyers and sellers worldwide while ensuring the security and compliance of all transactions."

About XTransfer

XTransfer, World's Leading & China's No.1 B2B Cross-Border Trade Payment Platform, is dedicated to providing SMEs with secure, compliant, fast, convenient and low-cost foreign trade payment & 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, Nigeria, etc. XTransfer has obtained local payment licenses in Hong Kong, the United Kingdom, the United States, Canada, and Australia. With more than 550,000 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 small and medium enterprises. XTransfer uses technology as a bridge to link large financial institutions and small and medium enterprises 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.

The issuer is solely responsible for the content of this announcement.