XTransfer to Sign New Partnership Agreements in Future
Operators may see faster cross-border settlements as XTransfer adds new financial institutions to its clearing network.
Updated on Oct. 29, 2026 in Financial Services
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Cross-border payments provider XTransfer plans to expand its global clearing network through new partnerships at upcoming fintech events in Hong Kong and Singapore. The company, which served over one million small and medium-sized enterprises in 2025, leverages these agreements to integrate local payment capabilities for its clients.
Why it matters
By adding more regional financial institutions to its network, XTransfer aims to reduce settlement delays and improve foreign exchange access for small businesses. These partnerships are critical for operators relying on cross-border transactions to bypass traditional banking friction in emerging markets.
XTransfer processed over US$60 billion in payments in 2025 and currently supports more than one million small and medium-sized enterprises. The firm maintains a network of 170 financial partners covering 60 countries and regions.
The players
XTransfer
A cross-border payments provider serving over one million small and medium-sized enterprises with clearing and settlement services.
Maybank
A major Southeast Asian financial institution that partnered with XTransfer at the 2025 Singapore Fintech Festival.
Kasikornbank
A leading Thai bank that established a partnership with XTransfer during the 2025 Singapore Fintech Festival.
Siam Commercial Bank
A Thailand-based bank that signed a partnership agreement with XTransfer at the 2025 Singapore Fintech Festival.
Bank SinoPac
A Taiwanese financial services provider that partnered with XTransfer during the 2025 Hong Kong Fintech Week.
The details
The XTransfer partnership model enables financial institutions to integrate their local collection, payout, and foreign exchange capabilities directly into the XTransfer platform. Partners connect to these Pay-to-China services via an application programming interface, allowing for smoother cross-border fund movement. This infrastructure is designed to resolve common liquidity and settlement hurdles for small firms operating internationally.
Timeline
2025: XTransfer processed US$60 billion in total payments.
October 29, 2026: Official publication date of the report.
Market Landscape
XTransfer follows the broader industry trend of shifting from traditional correspondent banking to decentralized, API-led clearing networks. This approach addresses systemic settlement delays by enabling direct integration with local financial institutions in emerging markets.
Operators using cross-border payment platforms should monitor whether their service providers are integrating more direct local banking partners to improve settlement speeds. The expansion of these clearing networks can significantly reduce foreign exchange volatility and transaction costs for small international trade businesses.
The takeaway
The move toward API-integrated regional clearing networks signals that small-business cross-border payments are becoming more streamlined and less reliant on legacy correspondent banking. Operators should track whether their current payment provider expands its list of local clearing partners to ensure competitive transaction fees.
Further reading
For broader trends in cross-border payment architecture, explore our coverage in Financial Services.
Source note: This article includes information reported by Fintech Singapore.
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