XTransfer has partnered with European bank Societe Generale to develop cross-border payment and currency settlement solutions for businesses moving money between China and global markets.
The two firms signed a memorandum of understanding at the Money20/20 Europe 2026 conference in Amsterdam.
The agreement outlines plans for local collection and outbound payment services to speed up international trade settlements.
A key focus of the partnership is a “Pay to China” service. This will offer US dollar and Chinese yuan settlement options in Hong Kong and mainland China.
The companies will also work on foreign exchange products to convert local currencies into major denominations like the dollar and euro, giving traders more certainty over costs.
The collaboration brings together Societe Generale’s banking infrastructure and regulatory network with XTransfer’s B2B payment platform, which serves small and medium-sized enterprises.
“By combining Societe Generale’s transaction banking capabilities with XTransfer’s platform and global SME network, we aim to deliver more digital, scalable cross-border payment solutions for traders worldwide,”
said Bill Deng, Founder and Chief Executive Officer of XTransfer.
“Seamless and transparent cross-border payments are now a baseline expectation for internationally active clients,”
said Andreea Parneci, Deputy Head of Global Transaction and Payment Services at Societe Generale.
“By combining our global infrastructure with an innovative digital platform such as XTransfer, we continue to enhance the efficiency and reliability of international payments.”
Featured image credit: Edited by Fintech News Hong Kong, based on image by Frolopiaton Palm via Magnific