XTransfer and Bank of China (Hong Kong) Partner to Revolutionize B2B Cross-Border Trade Payments

XTransfer and Bank of China (Hong Kong) (BOCHK) have entered a strategic partnership to streamline cross-border B2B trade payments. By integrating XTransfer’s risk management and settlement network with BOCHK’s clearing capabilities, the collaboration aims to provide SMEs with more efficient global collections and foreign exchange services, reducing friction in international fund transfers.

What was announced

The cooperation agreement was signed during Hong Kong FinTech Week 2026 by Martin Liu, Vice President of XTransfer, and Winnie Fan, Deputy General Manager of the Global Corporate Banking Department of BOCHK. The ceremony was witnessed by Bill Deng, Founder and CEO of XTransfer, and Liu Chao, General Manager of the Global Corporate Banking Department of BOCHK.

The partnership focuses on three core areas: global collections, payments, and foreign exchange. Under this model, XTransfer becomes the first corporate partner of BOCHK. The collaboration leverages BOCHK’s specific position as the RMB clearing bank in Hong Kong and its expertise in cross-border settlement. This is paired with XTransfer’s proprietary B2B settlement network and risk management systems.

The goal is to offer foreign trade enterprises in Hong Kong and globally a lower-cost, compliant experience for multi-currency transactions. By reducing the number of handover points in the cross-border process, the companies intend to improve capital turnover efficiency for SMEs. This move follows XTransfer’s "Financial Institution Partnership Model," where banks act as “Co-builders” to reach XTransfer’s customer base of over one million businesses while providing the necessary financial infrastructure.

"We are very honored to sign the cooperation agreement with BOCHK during Hong Kong FinTech Week. BOCHK is one of Hong Kong's most representative banks, with deep expertise in cross-border settlement and foreign exchange services. This cooperation combines the strengths of both parties, enabling SMEs to enjoy cross-border financial services of the same standard as large multinational corporations. Going forward, we will continue to refine our compliance and risk control capabilities and work with more financial institution partners to build trustworthy cross-border financial infrastructure."

Bill Deng, Founder and CEO of XTransfer

The companies involved

XTransfer is a leading B2B cross-border trade payment platform that focuses on providing financial services to small and medium-sized enterprises. The company operates a globally unified settlement network and maintains a heavy focus on risk management and compliance to facilitate international trade. With a customer base exceeding one million businesses, XTransfer has positioned itself as a bridge between traditional financial institutions and the underserved SME sector in the global trade market.

Bank of China (Hong Kong), or BOCHK, is a major commercial banking group in Hong Kong and serves as the sole clearing bank for Renminbi (RMB) in the region. As a key subsidiary of the Bank of China group, it holds a dominant position in the local market and provides a comprehensive range of corporate and retail banking services. Its role as an RMB clearing hub makes it a critical infrastructure provider for cross-border trade involving the Chinese currency. The bank’s Global Corporate Banking Department is central to its efforts in expanding international business and settlement capabilities.

What FF News has reported before

FF News has closely followed XTransfer’s rapid international expansion and its growing list of banking partnerships. The publication recently covered how XTransfer and Bank of China (Hong Kong) Forge Strategic B2B Trade Partnership during the 2026 FinTech Week. This follows a period of significant global activity, including the company's move into South America, where XTransfer Expands Latin American Footprint with Chile UAF Registration and New Payment Services.

The platform has also been active in the Middle East, having recently Gains In-Principle Approval for UAE Retail Payment Licence. Furthermore, the partnership with BOCHK mirrors similar domestic collaborations in mainland China, such as when XTransfer Partners with CZ Bank and CIB to Revolutionize B2B Cross-Border Trade Payments.

What this means

This partnership signals a shift in how traditional tier-one banks view fintech aggregators. By naming XTransfer as its first corporate partner in this specific model, BOCHK is acknowledging that direct SME acquisition is often more efficiently handled by agile tech platforms. For the wider industry, this puts pressure on other regional clearing banks to find similar "co-builder" partners or risk losing the high-volume SME trade flow. The integration of a major RMB clearing bank directly into a fintech’s settlement network also suggests that the technical barriers between legacy banking infrastructure and modern B2B payment platforms are rapidly dissolving, setting a new benchmark for cross-border liquidity.