SINGAPORE – Media OutReach Newswire – 14 November 2025 – XTransfer, World’s Leading B2B Cross-Border Trade Payment Platform and KBank, a leading regional financial institution in the AEC+3 market, announced the signing of a memorandum of understanding (MoU) at Singapore FinTech Festival 2025. The partnership aims to deliver one‑stop cross‑border financial solutions for SMEs engaged in international trade across key ASEAN markets. The collaboration will focus on domestic and cross‑border payment solutions, FX conversion and operational integration to enhance trade efficiency and support SME growth.
Bill Deng, Founder and CEO of XTransfer (Left) and Dr Karin Boonlertvanich, Executive Vice President – Corporate Strategy and Innovation Division Head at KBank (Right), signed an MOU during the Singapore Fintech Festival. 
Under the MoU, the parties will work together to evaluate and develop comprehensive cross-border payment solutions, including domestic and cross-border collections and payments, as well as foreign exchange conversion, specifically designed for SMEs operating across ASEAN, including Thailand, Indonesia, and Vietnam. By utilising application programming interfaces (APIs) and the digital platform, XTransfer and KBank aim to facilitate automated, real-time, and seamless FX conversion and transaction processing. This technological collaboration is intended to improve scalability, efficiency, and reliability for clients involved in cross-border trade.
The partnership anticipates a closer operational integration between XTransfer and KBank. This will include enhanced system connectivity, standardised reporting formats, and straight-through processing to improve risk management and service performance. Additionally, to support clients’ working capital needs, XTransfer and KBank will further evaluate lending solutions for Chinese merchants to enhance access to financing and streamline customer journeys.
Bill Deng, Founder and CEO of XTransfer, said, “This collaboration with KBank represents another important milestone in our mission to make cross‑border trade more efficient and inclusive for SMEs across ASEAN. By combining KBank’s regional strengths, we aim to help clients reduce costs, improve cash flow, and increase transaction efficiency. We will continue to strengthen compliance and risk management to build a trusted cross‑border financial infrastructure for our clients.”
Dr. Karin Boonlertvanich, Executive Vice President – Corporate Strategy and Innovation Division Head at KBank, said, “Cross-border trade and commerce in ASEAN has been expanding at a rate of 8%, driven by rapid advancements in digital technology and artificial intelligence (AI). This digital transformation presents unprecedented growth opportunities for small and medium-sized enterprises (SMEs), enabling them to scale efficiently while reducing transactional banking costs and mitigating associated risks.”
In light of the strong growth trajectory of cross-border trade and the emergence of XTransfer as the world’s leading B2B cross-border trade payment platform, KBank is proud to enter into this strategic collaboration. By integrating KBank’s robust regional network—spanning Thailand, Vietnam, Indonesia, and China—with XTransfer’s cutting-edge digital solutions, we aim to deliver seamless, secure, and cost-effective cross-border financial services. This partnership is designed to empower SMEs to expand their reach, enhance operational efficiency, and strengthen their competitiveness in the global marketplace.
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About XTransfer
XTransfer, world-leading B2B Cross-Border Trade Payment Platform, is dedicated to providing small and medium-sized enterprises (SMEs) with secure, compliant, fast, convenient and low-cost foreign trade payment and fund collection solutions, significantly reducing the cost of global expansion and enhancing global competitiveness. Founded in 2017, the company is headquartered in Shanghai and has branches in Hong Kong SAR, the United Kingdom, the Netherlands, the United States, Canada, Australia, Singapore, Vietnam, Thailand, Malaysia, the Philippines, the UAE, and Nigeria. XTransfer has obtained local payment licences in the Chinese Mainland, Hong Kong SAR, Singapore, the United Kingdom, the Netherlands, the United States, Canada, and Australia. To date, XTransfer serves over 700,000 enterprise clients worldwide.
By cooperating with well-known multinational banks and financial institutions, XTransfer has built a unified global multi-currency clearing network and a data-based, automated, internet-based and intelligent anti-money laundering risk control infrastructure centred on SMEs. XTransfer uses technology as a bridge to link large financial institutions and SMEs around the world, allowing SMEs to enjoy the same level of cross-border financial services as large multinational corporations.
XTransfer completed its Series D financing in September 2021 and achieved unicorn status. The company has a diverse composition of international investors, including D1 Capital Partners LP, Telstra Ventures, China Merchants Venture, eWTP Capital, Yunqi Capital, Gaorong Capital, 01VC, MindWorks and Lavender Hill Capital Partners.
For more information, please visit: https://www.xtransfer.com/
About KBank
Established in 1945, KASIKORNBANK (KBank) has grown into a leading regional financial institution in the AEC+3 market. With a strong competitive edge in the SME segment, KBank is dedicated to being a comprehensive solution provider for both SME and retail banking. The bank also offers a wide array of financial products and services to support corporate clients in expanding their businesses, including supply chain financing, foreign exchange services, and offshore loans.
KBank is deeply committed to supporting SMEs, recognizing their vital role in driving Thailand’s economic resilience and growth. Under its 2025 strategy, “WE GROOM, YOU GROW,” the bank has developed a comprehensive framework to empower SMEs in overcoming economic challenges and achieving sustainable success. This includes providing in-depth knowledge and capability building. KBank also delivers expert financial advisory services to help SMEs manage risk, optimize financial planning, and prepare for expansion. In addition, the bank offers tailored financial solutions, including low-interest and zero-interest loans, designed to enhance liquidity and support long-term investment.
Looking ahead, KBank aims to deliver sustainable value to all stakeholders by leveraging AI and digital innovation, enhancing customer experience, and pioneering new financial solutions. With a target of achieving double-digit Return on Equity (ROE) by 2026, KBank continues to reinforce its role as a dependable partner for SMEs and the broader Thai economy.
For more information, please visit: https://www.kasikornbank.com/en/about
