XTransfer sees explosive growth in cross-border payments from emerging markets

On April 11, 2025, in Hong Kong SAR, XTransfer, a leading B2B cross-border trade payment platform, highlighted significant growth in trade activity with emerging markets during the first quarter of 2025. The company reported a staggering 300% year-over-year surge in cross-border collections from their Hong Kong clients who trade with ASEAN, Africa, and Latin America. This growth is indicative of a larger trend where enterprises are increasingly looking beyond traditional markets such as Europe and the United States. Collectively, these regions accounted for nearly half of XTransfer's total collection volume from Hong Kong clients during this period. The underlying reasons for this rush towards emerging markets can be attributed to shifting global trade dynamics, especially with rising trade routes in ASEAN, South America, and Africa. This shift reflects Hong Kong's broader trend towards diversified global trade partnerships, driven by changing consumer needs, economic development, and increased interactions among emerging economies. Nigeria emerged as a standout performer, recording the highest growth rate, which symbolizes not just regional progress, but also a growing trust in emerging economies as reliable trade partners. In addition to the traditional markets of the US, Canada, Eurozone, and Australia, XTransfer supports transactions in over 30 countries, thereby facilitating payments in more than 56 local currencies. This capability is crucial, especially for businesses operating in regions where there is a scarcity of US dollars. For businesses and clients, the ability to pay in local currencies alleviates the common issues associated with foreign exchange losses incurred through intermediary banks, offering a more seamless trading experience. It is estimated that XTransfer's services can reduce remittance fees by 95% while decreasing foreign exchange costs by as much as 80%. Bill Deng, the Founder and CEO of XTransfer, emphasized that the company’s presence in Hong Kong has been solidified through local events and exhibitions in recent years. His vision for the company is to assist Hong Kong enterprises navigate the increasingly complex international trade environment, addressing the challenges associated with cross-border payments. In conclusion, as businesses adapt to the rapidly evolving international marketplace, services like those offered by XTransfer play a critical role in enhancing operational efficiencies and expediting global business expansion.