XTransfer, a business-to-business (B2B) cross-border payments company based in China, said on November 2 that it signed an agreement with Bank of China (Hong Kong) (BOCHK) at Hong Kong FinTech Week to offer foreign trade companies cross-border collections, payments, and foreign exchange services.

The companies said the partnership will combine BOCHK’s settlement and foreign exchange capabilities with XTransfer’s payment network and risk controls to serve businesses in Hong Kong and other markets.

XTransfer said it was BOCHK’s first corporate partner in this arrangement. The company added that the deal was part of its broader effort to work with banks on cross-border financial services.

XTransfer has secured multiple payment licenses in the US and announced five additional licenses there.

BOCHK also offers corporate trade finance services and runs a small and medium-sized enterprise account-opening service in Hong Kong.

🔗 Source: XTransfer

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