XTransfer

XTransfer is a cross-border financial technology company founded in 2017 by Deng Guobiao and headquartered in Shanghai, China. The platform helps Chinese small and medium export businesses receive international payments from overseas buyers by providing them with virtual overseas bank accounts through partnerships with global banks including Citibank, Standard Chartered, and Barclays. This solves a critical pain point for SMEs that lack offshore banking accounts and cannot directly accept foreign currency wire transfers from international buyers. Core services include multi-currency overseas receiving accounts, automatic currency conversion to Chinese Yuan, supplier payments, export tax rebate financing, and trade credit insurance. As of 2025, the platform serves over five hundred fifty thousand Chinese exporting companies across categories including apparel, electronics, machinery, home goods, and automotive parts. The product integrates anti-money-laundering compliance screening, customs declaration matching, and risk-control alerts to help enterprises meet regulatory requirements during cross-border transactions. Registered companies receive a dedicated account manager and the entire account-opening and fund-receiving workflow can be completed without the enterprise needing to physically visit an overseas bank branch. For solo foreign-trade operators without import-export licenses and for cross-border e-commerce sellers just starting out, the platform significantly reduces the barrier and cost of international payment collection.