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2 clusters · 6 sources · 9 days · First seen · Last updated

XTransfer expansion into Latin America

Overview

XTransfer, a global B2B cross-border payment platform, has initiated an expansion into Latin America, beginning with the launch of services in Chile via its subsidiary, XTransfer Chile SpA. To facilitate this, the company completed registration with Chile’s Unidad de Análisis Financiero (UAF) to ensure regulatory compliance regarding money laundering and terrorist financing prevention.

The Chilean service aims to support small and medium-sized enterprises (SMEs) by providing local currency collection accounts, including support for the Chilean peso, to reduce exchange costs and settlement delays. This move follows a significant increase in bilateral trade between China and Chile.

Building on this momentum, XTransfer showcased its regional strategy at the Money20/20 USA conference in Las Vegas. The company is utilizing a cooperation model where financial institutions provide local exchange and settlement infrastructure, allowing XTransfer to connect its network of over one million SMEs to underserved markets.

Entities

Unidad de Análisis Financiero · XTransfer · Violas Xiao · China · J.P. Morgan

Timeline

  1. [BUSINESS] 2 sources
    XTransfer expands into Latin America at Money20/20 USA

    XTransfer debuted at Money20/20 USA, highlighting its expansion into Latin America following registration with Chile’s UAF to support SME international trade.

  2. [BUSINESS] 5 sources
    XTransfer launches cross-border payment services in Chile

    XTransfer has registered with Chile's UAF and launched cross-border B2B payment services to support SMEs amid growing China-Chile trade.

Sources

leianoticias.com.br · mobile.valor.com.br · noticias.dino.com.br · oglobo.globo.com · portal.comunique-se.com.br · thehubnews.net