XTransfer and Shanghai Pudong Bank Collaborate to Enhance Cross-Border Payment Solutions

Enhancing Global Trade Finance with Strategic Partnership

In a significant move for the finance sector, XTransfer, renowned as the leading B2B cross-border trade payment platform, has signed a pivotal strategic agreement with the Shanghai Pudong Development Bank (SPD Bank) Co. Ltd., specifically its Hong Kong branch. This partnership was officially announced during the Hong Kong FinTech Week held in November 2025. The collaboration is built upon a shared commitment to enhance cross-border financial services.

Key Features of the Agreement

This collaboration aims to consolidate the capabilities of both institutions, focusing primarily on various aspects of payment solutions, transaction processing, and efficient cash management. By leveraging SPD Bank's extensive network and service offerings from its Hong Kong facilities, XTransfer plans to provide its clientele—over 700,000 SMEs engaged in foreign trade—with a suite of secure and convenient payment services tailored for global transactions.

Innovations in Financial Services

Potential services as a result of this partnership include "Global Accounts," which will enable businesses to operate with ease in various currencies, and "Local Currency Accounts" designed to simplify transaction processing. These enhanced features are expected to ensure that XTransfer's clients can efficiently and compliantly receive payments from international buyers, thus boosting their overall global trade capabilities.

Expansion of Service Reach

Initially, the focus of this collaboration will lie within the Chinese Mainland and Hong Kong SAR, with anticipations for future expansion into additional regions. This strategic growth trajectory mirrors the intent of both companies to continually refine and elevate the service system available to SMEs, providing them access to cross-border financial solutions akin to those used by larger multinational corporations.

Voices from Leadership

Bill Deng, Founder and CEO of XTransfer, expressed enthusiasm about this collaboration, stating: "We are excited to partner with Shanghai Pudong Development Bank's Hong Kong branch. By merging SPD Bank's extensive knowledge and resources in cross-border finance with our robust global network and technology, we can significantly improve transaction processing and compliance governance, giving SMEs an integrated cross-border financial infrastructure that supports their global expansion goals."

Zhu Jun, Deputy Chief Executive Officer of SPD Bank, also highlighted the significance of this partnership, emphasizing the bank's continuity in refining the cross-border financial service system. He stated, "Our collaboration with XTransfer is aimed at providing convenient and reliable financial support for Chinese enterprises looking to expand their reach globally."

Future Endeavors and Innovations

Looking ahead, both XTransfer and SPD Bank are keen to delve deeper into cooperative ventures, including the development of local accounts, multi-currency settlement solutions, and enhanced compliance and risk control systems. This ambitious agenda aims to innovate and enrich China's foreign trade finance landscape, ensuring that SMEs can access comprehensive financial services that meet their expanding needs.

In summary, the partnership between XTransfer and Shanghai Pudong Development Bank represents a robust initiative to augment the cross-border financial capabilities of SMEs, paving the way for innovation and enhanced service offerings that are essential for successful global trade.