XTransfer, the world’s leading B2B cross-border trade payment platform, and Maybank, a leading bank in ASEAN, have announced a strategic partnership aimed at expanding cross-border payment and Shariah-compliant solutions.
Coinciding with Singapore FinTech Festival 2025, senior representatives of XTransfer and Maybank officially signed the memorandum of understanding at the event.
Under the collaboration, XTransfer and Maybank will leverage their respective strengths to deliver one-stop, cross-border financial solutions, encompassing domestic and cross-border payments, as well as FX conversion, across key ASEAN markets, Hong Kong, the United Kingdom, and the United States.
The parties will leverage new technologies and innovations, including APIs, digital platforms, collection solutions, and virtual accounts, to enable automated, real-time, and seamless FX conversion and transaction processing, enhancing the scalability, efficiency, and reliability of cross-border financial services.
Recognising the growing demand for Islamic finance-compliant services in ASEAN, XTransfer and Maybank will also explore and develop Shariah-compliant FX and payment offerings tailored to regional needs, broadening financial inclusion and meeting the evolving requirements of businesses seeking Shariah-compliant solutions.
This comprehensive partnership deepens XTransfer’s Southeast Asia coverage and multi-currency settlement capabilities, while supporting Maybank’s strategy to strengthen its regional franchise and ecosystem connectivity.
Bill Deng, Founder and CEO of XTransfer, said, “This collaboration with Maybank marks a significant step in elevating our services across ASEAN.
“With stronger local collection, FX conversion, and potential Shariah-compliant settlement capabilities, we will help businesses reduce costs, enhance cash flow, and improve transaction efficiency. We will continue to strengthen compliance and risk management to build a trusted cross-border financial infrastructure for our clients.”
Dato’ Sri Khairussaleh Ramli, President and Group CEO of Maybank, said, “Together with XTransfer, we can enable more seamless cross-border payments and collections with competitive forex rates for merchants engaged in ASEAN-China trade, and participate in the surging flows between the two regions—now each other’s largest trading partners.
“Total trade value is on track to reach $1 trillion this year.
“This collaboration also opens opportunities to develop innovative solutions for businesses. With Maybank’s presence in the key ASEAN markets, we are truly well-positioned to support their cross-border needs.”
