Bill Deng, Founder and CEO of XTransfer, was invited as a panellist for the session, "The Southeast Asia Payments Opportunity", where he joined guests from GFTN, HSBC and Stripe, to engage in in-depth discussions on digitalisation and opportunities in emerging markets.
Bill Deng, Founder and CEO of XTransfer (second from left), was invited to participate in a panel at the 2025 Inclusion·Conference on the Bund.
Data released by XTransfer for cross-border SMEs shows that exporters are accelerating their embrace of emerging economies. Chinese exporters' reliance on the U.S. market continues to decline: the share of transactions from U.S. buyers has fallen from 22% in 2018 to 9% in 2025. Meanwhile, Southeast Asia has emerged as the largest source region, accounting for 24%. Demand in Latin America and Africa is also growing rapidly, and XTransfer is expanding its service capabilities in markets such as Mexico, Brazil, Ghana, and Egypt. A McKinsey report released at the Bund Conference likewise noted that Asia has become the most dynamic region for global trade, with strong and fast adoption of digital technologies, providing fertile ground for the digital transformation of foreign trade enterprises.
From an industry structure perspective, the "new three", lithium batteries, new energy vehicles, and solar cells, together with high-tech product exports such as auto parts and consumer electronics, are raising the bar for cross-border payments: faster capital turnover, more precise compliance and risk controls, and high availability across multiple currencies and regions. Through self-developed risk and compliance infrastructure, a partner banking network, and localised services, XTransfer platform is continuously enhancing the stability and coverage of B2B payments.
To address the long‑standing challenges faced by SMEs, including high costs, slow settlement, and compliance uncertainty, XTransfer proposes technology‑driven solutions. On the one hand, XTransfer has formulated a new industry standard called X-Net, focusing on improving capital flow and AML risk management to drive industry standardisation. On the other hand, an AI-driven risk control system enables "non-intrusive transaction reviews", with relevant indicators improved from 96% to 99%, ensuring compliant and secure transactions while minimising interference with clients' operations to enhance transaction continuity and capital efficiency.
In terms of payment experience, XTransfer continues to advance its product roadmap of making "B2B payments as simple as scanning a QR code", focusing on streamlining processes and improving timeliness, from account opening and collections/payments to reconciliation and write-offs, to help foreign trade enterprises shorten cash conversion cycles and reduce fees & operating costs. It also leverages multi-dimensional data verification and supply‑chain-based solutions to improve the efficiency of trade authenticity verification.
Bill Deng, Founder and CEO of XTransfer, stated that XTransfer now serves over 700,000 clients globally, 47% of which are overseas enterprises. He expects the company's transaction volume to grow tenfold over the next five years, describing this as a "mobile payment revolution" in the cross‑border B2B arena.
On the exploration of stablecoins, Bill noted at the Bund Conference that as a payment tool built on blockchain infrastructure, stablecoins possess attributes such as traceability, real-time verification, and programmability. They are poised to ease the time and cost burdens caused by multi-layer correspondent banking clearing in cross-border B2B settlement. Within a compliant framework, XTransfer will adopt a dual risk‑control mechanism of "on-chain behaviour analytics + off-chain trade authenticity verification", advancing productisation prudently to offer options for more efficient cross-border settlement in the future. Bill further predicted that within three years, import‑export enterprises' wallets will be "dual‑currency" wallets supporting both fiat currencies and stablecoins. At the same time, Bill emphasised that related applications will strictly adhere to current regulatory requirements and be rolled out steadily.
Bill added that XTransfer will continue to increase its investment in emerging markets, working with global partners to upgrade cross-border B2B payment infrastructure, and providing SMEs with more convenient and secure global capital connectivity, thereby making foreign trade operations faster, steadier, and more cost-effective.
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