XTransfer Showcases Ground-Breaking Solutions at 137th Canton Fair, Boosting Cross-Border Trade with Emerging Markets

GUANGZHOU, China, April 17, 2025 /PRNewswire/ -- At the grand opening of the 137th Canton Fair, XTransfer, the world's leading and China's No.1 B2B Cross-Border Trade Payment Platform, unveiled its groundbreaking solution — the Local Currency Account — designed to revolutionise global trade, especially with emerging markets.

The Canton Fair, widely regarded as a barometer of China's foreign trade, has reached a record-breaking scale this year, attracting businesses from around the world. XTransfer's presence at the event underscores its commitment to empowering SMEs in China to trade more effectively with fast-growing economies across Asia, Africa, and Latin America.

XTransfer's Local Collection Account addresses long-standing pain points in traditional cross-border payments, such as high fees, slow processing times, and the risk of frozen accounts due to suspicious transactions. By enabling buyers to pay in their local currencies through local clearing networks, the product eliminates intermediary banks, reduces costs, and accelerates fund settlements, fastest within the same business day.

"As a small business trading with Africa, we used to face serious challenges when buyers couldn't send USD payments through traditional banks," said Li Pengsen, Chairwoman of Hebei Ovison Industrial Group. "XTransfer's Local Currency Accounts made it easy and safe for our African clients to pay directly into our Chinese accounts, without currency hurdles or banking delays."

Since launching the service in 2018, XTransfer has become a pioneer in local collection solutions. It now supports over 30 global and local currencies across more than 200 countries and regions, including key emerging markets like Kenya, Nigeria, Brazil, Mexico, Indonesia, and the Philippines. Today, it serves over 600,000 Chinese foreign trade enterprises, making it the largest B2B cross-border financial platform in China by client base.

"Trading with emerging markets presents huge growth opportunities, but payment friction often holds businesses back," said Bill Deng, Founder and CEO of XTransfer. "Our mission is to remove those obstacles and make global trade more inclusive, efficient, and secure."

As the Canton Fair continues to foster international cooperation and commerce, XTransfer remains at the forefront of digital financial innovation. It bridges the gap between Chinese exporters and emerging market buyers and unlocks new growth in global trade.

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