XTransfer Expands Latin American Footprint with Chile UAF Registration and New Payment Services

XTransfer Chile SpA has registered with Chile’s Unidad de Análisis Financiero (UAF), formalising its presence in the Latin American market. For fintech professionals, this represents a significant bridge between Chinese trade and South American SMEs, addressing the friction of local currency settlement in a corridor that saw trade exceed $66 billion in 2025.

What was announced

XTransfer Chile SpA has finalised its registration with Chile’s Unidad de Análisis Financiero (UAF), marking a formal expansion into the Latin American financial ecosystem. This move is designed to facilitate cross-border payment solutions for small and medium-sized enterprises (SMEs) that have historically struggled with the complexities of international trade compliance and currency conversion. The registration allows XTransfer to offer local-currency collection accounts in several key markets, including Chile, Brazil, Mexico, Colombia, Argentina, and Peru. By supporting currencies such as the Chilean Peso, Brazilian Real, and Mexican Peso, the platform enables buyers to use local clearing systems while exporters receive funds in RMB.

This infrastructure addresses a significant growth trend; bilateral trade between China and Chile has surged from approximately US$7 billion in 2005 to US$66.905 billion in 2025. XTransfer’s internal data highlights this momentum, reporting a 94% year-on-year increase in payment collections from Latin America in 2025, with Chilean collections specifically rising by 79%. The platform’s model aims to bypass the traditional USD settlement bottleneck, which often introduces high foreign exchange costs and slows cash flow for businesses operating across the Pacific. By leveraging a global local collection network and partnerships with licensed financial institutions, the platform provides a full-chain solution covering payment, collection, settlement, and repatriation.

"Completing our UAF registration is a key milestone in our Latin America expansion. XTransfer will continue to invest in regulated markets and strengthen its payment infrastructure to support SMEs participating in cross-border commerce."

Violas Xiao, Singapore and LatAm CEO of XTransfer

The companies involved

XTransfer is a global B2B cross-border trade payment platform that has rapidly scaled its operations to serve the needs of international SMEs. The company provides a comprehensive suite of services covering payment, collection, settlement, and repatriation, often partnering with licensed financial institutions to leverage local clearing networks. In August 2026, the company reached a significant milestone by surpassing one million enterprise clients, cementing its position as a major player in the cross-border fintech space. Its operations are heavily focused on simplifying the "full-chain" of trade finance, particularly for businesses that find traditional banking routes cost-prohibitive or slow.

The Unidad de Análisis Financiero (UAF) is Chile’s public decentralised institution responsible for preventing money laundering and the financing of terrorism. By registering with the UAF, XTransfer Chile SpA aligns itself with the country’s anti-money laundering (AML) and counter-terrorist financing (CTF) frameworks. This regulatory step is a prerequisite for fintechs seeking to provide legitimate financial services within the Chilean market and serves as a foundation for broader regional operations across Latin America.

What FF News has reported before

FF News has followed XTransfer’s aggressive global expansion and technological development throughout 2026. In September, the company made headlines when XTransfer Partners with CZ Bank and CIB to Revolutionize B2B Cross-Border Trade Payments, a move aimed at streamlining the domestic-to-international trade pipeline. This followed news that XTransfer Gains In-Principle Approval for UAE Retail Payment Licence, showing a clear pattern of securing regulatory footholds in high-growth trade hubs. On the technical side, we reported how XTransfer Leverages AI to Solve the 'Impossible Trinity' in Cross-Border B2B Trade Payments, focusing on their use of automation to balance security, speed, and cost. Additionally, the company recently celebrated its scale when XTransfer Reaches 1 Million Enterprise Clients and Showcases TradePilot AI at Annual Summit, highlighting its growing influence in the global B2B sector.

What this means

The formalisation of XTransfer’s presence in Chile highlights a broader industry shift where B2B fintechs are successfully challenging the dominance of the USD-denominated SWIFT system. As bilateral trade between emerging markets and China grows, the demand for local-currency clearing is putting pressure on traditional correspondent banks that rely on FX spreads and high wire fees. This move suggests that the "easy to export, hard to get paid" problem is being solved by agile platforms that integrate compliance directly into the payment flow. The industry must now consider whether traditional banks in Latin America will adapt their fee structures or cede the SME trade corridor entirely to specialized fintech providers.