XTransfer, a China-based business to business (B2B) cross-border trade payment platform and KBank, a Thailand-based financial institution in the AEC+3 (ASEAN Economic Community plus China, Japan, and South Korea) market, have teamed up to boost cross border solutions in ASEAN.
The duo said in a statement on last Friday that they have signed a memorandum of understanding (MoU) for the partnership which aims to deliver one‑stop cross‑border financial solutions for small and medium-sized enterprises (SMEs) engaged in international trade across key ASEAN markets.
The collaboration will focus on domestic and cross‑border payment solutions, foreign exchange (FX) conversion and operational integration to enhance trade efficiency and support SME growth.
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 utilizing 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 also anticipates a closer operational integration between XTransfer and KBank.
This will include enhanced system connectivity, standardized 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.
“This collaboration with KBank represents another important milestone in our mission to make cross‑border trade more efficient and inclusive for SMEs across ASEAN,” said Bill Deng, Founder and Chief Executive Officer of XTransfer.
“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,” he added.
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 percent, driven by rapid advancements in digital technology and artificial intelligence (AI).
“This digital transformation presents unprecedented growth opportunities for SMEs, enabling them to scale efficiently while reducing transactional banking costs and mitigating associated risks,” he noted.
In light of the strong growth trajectory of cross-border trade and the emergence of XTransfer as the world’s leading business to business (B2B) cross-border trade payment platform, he said 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,” he added.
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