A XTransfer,the world's leading cross-border B2B payment platform and number 1 in China, and Ouribank, one of the main foreign exchange banks in Brazil, celebrated a global partnership. This collaboration aims to reduce the cost and processing time of cross-border payments for XTransfer customers,benefiting particularly Chinese and global traders with significant markets in Latin America. Companies with an XTransfer account will be able to receive Pix transfers from Brazilian clients.
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 Latin American country to exceed 100 billion dollars in exports to China and is China's largest trading partner in Latin America. In 2024, bilateral trade between China and Brazil grew 3,5% in year-on-year terms, reaching about 188 billion dollars.
When companies make cross-border payments, often encounter challenges such as long shipping times, high costs and exchange losses.A study by EBANX andXTransfershowed that, in Brazil, a transaction of this type can take up to 14 days to be completedif done using conventional methods. This translates to a lower operational capacity of companies, inefficiency and unexpected costs.
XTransfer is dedicated to providing foreign trade companies with secure cross-border payment and collection solutions, conformists, fast, convenient and low cost, significantly reducing the cost of global expansion and increasing global competitiveness. With more than 600.000 clients of the company, 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. She is one of the pioneers of eFX technology and works with some of the largest currency fintechs in Brazil with FxaaS solutions since 2019.
Both parties work together in payment and exchange services. When integrating the infrastructure of Ouribank, XTransfer can now offer clients a wider range of local payment options and fund collection. Global foreign trade companies with an XTransfer account can now receive payments inBrazilian real (BRL) of its Brazilian consumers, that can pay Chinese and global suppliers inBRL via PIXwithout the exchange rate complexities.
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 those from China. This collaboration helps to simplify and promote cross-border trade transactions from Brazil.
For Bill Deng, founder and CEO of XTransfer, the partnership with Ouribank marks 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 of Latin American SMEs. We look forward to the long-term success of this alliance.”
Bruno Luigi Foresti, Director of Ouribank, saidIn 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, 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.”
