XTransfer has unveiled a cross-border payments solution for China-based exporters at the 23rd China–ASEAN Expo, combining local-currency collections in Southeast Asia with RMB settlement. The platform targets exporters facing foreign-exchange costs, fragmented collection channels and slower repatriation as China–ASEAN trade continues to expand.

XTransfer, a B2B cross-border trade payment platform, has introduced a one-stop payment and settlement solution designed to help Chinese exporters collect local currencies across Southeast Asia and settle proceeds into renminbi (RMB).

The company showcased the offering at the 23rd China–ASEAN Expo (CAEXPO) in Nanning, Guangxi, as businesses increasingly look for payment infrastructure that matches the growing integration of China and Southeast Asian supply chains.

The underlying challenge is familiar to companies expanding internationally: completing a sale is only part of the transaction. Exporters also need to collect funds efficiently, manage foreign exchange, settle proceeds and ultimately repatriate the money to their home market.

For businesses selling into Southeast Asia, that process can become complicated when buyers prefer to pay in local currencies while exporters lack local collection infrastructure. Receiving U.S. dollars instead can introduce additional foreign-exchange conversions and cross-border fees, while subsequent settlement and repatriation can slow the movement of working capital.

XTransfer’s new offering is designed around that payment lifecycle. Through its local collection network and partnerships with licensed financial institutions, the company says eligible businesses can access local-currency collection accounts in markets including Malaysia, Indonesia, Vietnam and Thailand.

Supported currencies include the Indonesian rupiah (IDR), Malaysian ringgit (MYR), Thai baht (THB), Vietnamese dong (VND), Philippine peso (PHP) and Singapore dollar (SGD).

The model allows Southeast Asian buyers to make payments from local bank accounts through domestic clearing infrastructure. Exporters can then convert and settle their funds into RMB through XTransfer.

For businesses, the proposition is less about adding another payment method and more about reducing friction between the buyer’s preferred currency and the seller’s home-market currency. A local collection account can make payment instructions more familiar to buyers while potentially reducing the number of international payment steps involved in a transaction.

The timing reflects the scale of China–ASEAN commerce. According to figures supplied by XTransfer, bilateral trade exceeded $1 trillion in 2025, reaching approximately $1.05 trillion, up 7.4% year over year. The company says China has been ASEAN’s largest trading partner for 17 consecutive years, while ASEAN has held the position of China’s largest trading partner for six consecutive years.

Trade momentum has continued into 2026. From January through July, China–ASEAN bilateral trade reached $744.41 billion, an increase of 24.7% year over year and equivalent to 21.8% of China’s total foreign trade, according to the figures provided by XTransfer.

Those numbers point to a growing requirement for payment infrastructure that can operate across multiple currencies and banking systems. As manufacturers, wholesalers and trading companies deepen relationships across Southeast Asia, the ability to receive local payments and manage proceeds efficiently becomes part of the broader infrastructure supporting cross-border commerce.

The trend also reflects a wider evolution in digital payments. Traditional correspondent banking remains important for international trade, but fintech companies are increasingly building localized payment networks that connect domestic financial infrastructure with cross-border business platforms.

Providers such as Wise, Airwallex and Stripe have similarly built international payment products around local collection, multi-currency accounts and cross-border settlement, although their target customers and geographic coverage differ. Banks and payment networks are also investing in faster cross-border payment infrastructure as regulators seek to reduce the cost and friction associated with international transactions.

XTransfer’s focus is specifically tied to B2B trade flows. That distinction matters because corporate payments often involve larger transaction values, recurring supplier relationships, invoices and more complex compliance requirements than consumer remittances.

Compliance is therefore another important part of the model. XTransfer says it works with licensed financial institutions and is focused on secure and compliant operations while optimizing foreign-exchange and settlement processes.

For exporters, the potential benefit is improved cash utilization. Faster collection and repatriation can reduce the time between completing a sale and accessing usable working capital. That can become increasingly important for businesses managing inventory, manufacturing costs and supplier payments across borders.

The broader opportunity extends beyond China and ASEAN. As global supply chains become more regionalized, cross-border payment platforms are competing to provide localized financial infrastructure without requiring businesses to establish banking relationships in every market they enter.

XTransfer’s CAEXPO debut highlights that shift. Rather than treating cross-border payments simply as an international transfer, the company’s approach connects local collection, currency conversion and RMB settlement into a single workflow.

The effectiveness of the model will ultimately depend on pricing, foreign-exchange rates, coverage, transaction limits, compliance requirements and the ability to support businesses as they expand into additional markets. But the launch reflects a clear direction in financial technology: B2B cross-border payments are increasingly being built around local payment access and integrated settlement rather than one-size-fits-all international transfers.

Market Landscape

China–ASEAN trade is creating a growing market for localized B2B payment infrastructure, particularly as exporters and suppliers operate across multiple currencies.

The competitive landscape includes banks, payment networks and fintech platforms offering local accounts, foreign-exchange services, payment orchestration and cross-border settlement. For businesses, the differentiator is increasingly the ability to combine collect, convert, settle and repatriate into one workflow.

XTransfer’s model is particularly relevant to Digital Payments Platforms, Embedded Finance Infrastructure, Open Banking Infrastructure and the Fintech Startup Ecosystem, as Southeast Asian commerce becomes more interconnected.

Top Insights

• XTransfer is combining local-currency collection across Southeast Asia with RMB settlement for eligible Chinese exporters.
• Supported currencies include IDR, MYR, THB, VND, PHP and SGD across key Southeast Asian markets.
• China–ASEAN trade reached $1.05 trillion in 2025, according to figures supplied by XTransfer.
• Local collection can reduce reliance on dollar-denominated settlement and potentially simplify foreign-exchange and repatriation workflows.
• The launch highlights growing demand for localized B2B payment infrastructure supporting increasingly regionalized Asian supply chains.

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