XTransfer receives five more payment licenses in the US – FinanceFeeds

XTransfer has received five additional payment licenses in the US as part of its regulatory expansion in the US.

The Chinese payments company has been licensed in New Hampshire, the District of Columbia, Utah, Georgia, and Arizona, giving it a total of eight payment licenses in the US to date. Florida, Delaware, Colorado.

XTransfer partners with well-known multinational banks and financial institutions such as JP Morgan, DBS, Deutsche Bank, and BARCLAYS to provide a unified global multicurrency payment network.

With this infrastructure, XTransfer provides technology as a bridge that connects large financial institutions and small and medium-sized businesses around the world, enabling them to enjoy the same level of cross-border financial services as large corporations.

“Meeting the highest standards of compliance and security in the global financial ecosystem”

Alice Yao, CRO and co-founder of XTransfer, said: “Obtaining these additional licenses is a testament to XTransfer’s commitment to meeting the highest standards of compliance and security in the global financial ecosystem. We are proud to be recognized by regulators in these additional states. “This will allow us to serve a wider range of customers and promote international business activities,” Alice added.

XTransfer is licensed to conduct domestic and cross-border remittances in New Hampshire, the District of Columbia, Utah, Georgia, and Arizona, and serves international trading companies operating in these states. and support local companies in their international expansion.

XTransfer’s global financial infrastructure and platform is designed to meet the needs of small and medium-sized businesses involved in international trade. The company bridges the gap between large financial institutions and small businesses, giving them access to the same level of financial services as multinational corporations.

The company has offices in Hong Kong, China, the United Kingdom, the Netherlands, the United States, Canada, Japan, Australia and Singapore. The company currently holds local payment licenses in Hong Kong, China, the UK, the US and Canada and is focused on further expanding its global footprint.

XTransfer receives in-principle approval in Singapore

XTransfer recently received In-Principle Approval (IPA) for a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This will enable XTransfer to provide services such as account issuance, domestic remittances, cross-border remittances, and electronic money issuance.

The cross-border trade payment platform plans to introduce comprehensive e-business wallet services to Singapore, including account opening, top-up options, currency exchange services, and cross-border fund collection and payment solutions.

The company officially launched its international services earlier this year. Currently, trading companies around the world have started using XTransfer, which helps sellers deal with difficult issues of fund recovery, and also meets the needs of buyers around the world. Both buyers and sellers can use XTransfer accounts to achieve secure and compliant 24/7 payment settlement, potentially saving 95% on transfer fees and 20% on currency conversion costs. This ensures uninterrupted circulation of funds throughout the trade process.

In May, XTransfer partners with TerraPay to leverage its global payment infrastructure to further enhance its service offering. Customers will be able to make local payments globally and pay in local currencies in 136 countries and territories, including emerging markets such as Africa, Latin America and Southeast Asia. TerraPay boasts an extensive international payments network regulated in 31 global markets, with payments to over 144 receiving countries, 210 sending countries, over 750 million bank accounts, and over 210 million mobile wallets. Payment is possible.