XTransfer has partnered with OCBC to establish a long-term collaboration that provides trading companies, especially SMEs, with compliant and efficient cross-border financial solutions.
OCBC will support XTransfer’s business development in Greater China and ASEAN by offering a range of corporate banking services.
This includes trade finance, local and foreign currency loans, foreign exchange, payments, collections, time deposits, and corporate internet banking.
Both companies will also explore new product areas to drive innovation in cross-border services and enhance efficiency and customer experience for corporate clients.
Jason Sun, Co-founder and CFO of XTransfer, said,
“Leveraging OCBC’s extensive network and integrated financial capabilities in Greater China and ASEAN, together with XTransfer’s strengths in cross-border fund collection and payment, compliance, and risk-control technology, we will jointly build a secure, compliant, transparent, and efficient one-stop cross-border integrated financial service system.
This will help foreign trade enterprises reduce costs and increase efficiency, safeguard transaction security, and improve capital turnover, thereby further promoting high-quality development of regional trade and investment.”
Seth Tan, Managing Director & Head of Corporate Banking of OCBC China, said,
“As XTransfer’s global account manager team, OCBC China actively integrates the Group’s rich resources across markets and, relying on the group’s advanced technology and systems, facilitates cross-border collaboration to open accounts for clients in locations such as Singapore and Hong Kong SAR.
Working hand-in-hand with teams across regions, we have tailored a basket of API-based financial solutions for XTransfer, empowering it to provide customers with more efficient and convenient payment services and a more diversified range of collection options.”
The partnership comes amid deepening trade relations between the two cities.
In the first half of 2025, bilateral trade between Shanghai and Singapore grew 5.4% year on year.
As of June, Singapore had invested in over 6,800 projects in Shanghai valued at more than US$27 billion, while Shanghai companies have launched more than 600 projects in Singapore with a combined investment of about US$8.5 billion.
Featured image: Seth Tan, Managing Director & Head of Corporate Banking of OCBC China (second from right) and Jason Sun, Co-founder and CFO of XTransfer (first from right), signed an MOU
