#Netherlands #Amsterdam #BNP Paribas #XTransfer #Money20/20

Strategic Partnership Between XTransfer and BNP Paribas

In a landmark agreement, XTransfer, the premier B2B cross-border payment platform based in China, has teamed up with BNP Paribas, the leading bank in the European Union, to streamline international payments. This partnership was formally established at the Money20/20 Europe event held in Amsterdam on June 10, 2025. The collaboration aims to significantly reduce the costs and processing times associated with international transactions, specifically benefiting international traders operating extensively in the Eurozone.

At the signing ceremony, Bill Deng, founder and CEO of XTransfer, expressed enthusiasm about the partnership, stating, "It is a great honor to partner with BNP Paribas. This agreement underscores our shared ambition to provide improved international financial solutions for SMEs." The initiative comes at a time when the trade relationship between China and the EU is at its peak, with 2024 figures indicating a bilateral trade volume of $785.8 billion, marking a slight increase over the previous year.

According to the Chinese Customs data, the EU ranks as China's third-largest export destination and the second-largest source of imports. Conversely, China remains the EU’s largest source of imports and the third-largest export destination. This backdrop illustrates the importance of simplifying payment solutions for SMEs engaged in international commerce.

The partnership is poised to empower European SMEs involved in cross-border trade by leveraging BNP Paribas's extensive network across Europe. XTransfer will facilitate seamless euro fund collections for its Chinese clients, while simultaneously aiding European SMEs in making direct euro payments. These improvements aim to mitigate currency exchange issues and enhance transaction efficiencies.

Looking ahead, the partnership is set to broaden its scope with plans to introduce more currency options in the near future. This strategic alliance marks a critical step towards a robust, compliant, and innovative financial infrastructure tailored for international commerce. Bruno Mellado, Global Head of Payments and Receivables at BNP Paribas, highlighted the significance of this partnership by stating, "Combining BNP Paribas's extensive European network with XTransfer's expertise in B2B international payments allows us to simplify international commercial transactions, lower costs, and enhance our clients’ global competitiveness."

By addressing the complexities of international payments, this collaboration promises not only to reduce costs associated with global trade but also to significantly boost the international competitiveness of European SMEs. The future looks bright as these two industry leaders join forces to champion innovative financial solutions for the global market.

As the landscape of international trade continues to evolve, partnerships like that of XTransfer and BNP Paribas are crucial for fostering an environment that supports efficient and effective global commerce.

The impact of this collaboration will be closely watched by stakeholders across various sectors, as the financial services industry adapts to growing demands for streamlined solutions.