XTransfer Signs Strategic Agreements with CZ Bank and CIB at CIFIT
At the 26th China International Fair for Investment and Trade (CIFIT) in Xiamen, XTransfer signed strategic cooperation agreements with China ZheShang Bank (CZ Bank) and Industrial Bank Co., Ltd. (CIB). The partnerships aim to address cross-border finance challenges such as minor-currency collection in emerging markets and RMB conversion and withdrawal using fintech solutions. XTransfer's collaboration includes an all-currency settlement solution with CZ Bank, leveraging X-Net—a global local-collection network—to help export clients collect payments in local currencies across Africa, the Middle East, and Latin America. With CIB, it focuses on improving cross-border RMB clearing efficiency while ensuring compliance during trade settlements. XTransfer is also opening its X-Net platform to banks with diverse cooperation models, allowing them to directly use its global payment capabilities for their clients' international transactions.
Topics: bank partnerships CIFIT fintech foreign exchange (FX)