XTransfer Opens Malaysia Office to Support Southeast Asia Cross-Border Trade

KUALA LUMPUR, Malaysia — 2026 — XTransfer has officially opened its new office in Malaysia, strengthening its local presence and expanding its capabilities to support businesses engaged in international trade across Malaysia and Southeast Asia. The new Malaysia office marks an important step in XTransfer’s regional expansion strategy. By combining localized operations with its global payment network, XTransfer aims to help businesses manage cross-border collections, supplier payments, and international business transactions more efficiently.

Malaysia plays an important role in Southeast Asia’s regional and global supply chains, supported by its strategic location, manufacturing capabilities, and extensive trade relationships.

According to the Malaysia External Trade Development Corporation (MATRADE), Malaysia’s total trade reached RM3.061 trillion in 2025, increasing 6.3% year on year and surpassing RM3 trillion for the first time.

China remains Malaysia’s largest trading partner. Data from the Department of Statistics Malaysia (DOSM) shows that bilateral trade between Malaysia and China reached RM542.2 billion in 2025, with China maintaining its position as Malaysia’s largest trading partner for the 17th consecutive year.

As Malaysian companies increasingly participate in cross-border sourcing, exporting, and regional supply chains, businesses need payment infrastructure that can support international transactions with greater efficiency and flexibility.

For businesses trading internationally, making and receiving payments across markets can involve multiple banks, currencies, payment networks, and compliance requirements.

Malaysian SMEs purchasing from overseas suppliers may need to manage international supplier payments while dealing with foreign exchange and settlement processes. Exporters, meanwhile, need convenient ways to receive payments from international customers and manage funds across markets.

As cross-border trade grows, efficient B2B cross-border payment solutions can help businesses simplify payment operations and better manage their international trade activities.

XTransfer’s expansion in Malaysia follows an important regulatory milestone.

In February 2026, XTransfer received conditional approval from Bank Negara Malaysia (BNM) for relevant payment licences. Subject to the completion of the required pre-issuance conditions and approval to commence operations, XTransfer plans to introduce digital payment services in Malaysia to support businesses, particularly SMEs engaged in international trade.

The regulatory progress represents an important step in XTransfer’s localization strategy and its efforts to develop compliant cross-border payment capabilities in the Malaysian market.

“Receiving conditional approval from Bank Negara Malaysia is an important milestone for XTransfer in the ASEAN region,” said Bill Deng, Founder and CEO of XTransfer. “We look forward to bringing Malaysian businesses compliant and efficient payment solutions that help trade move faster and more predictably.”

Through its Malaysia operations, XTransfer aims to support businesses with payment needs arising from international trade. Depending on the services available following regulatory approval, businesses may benefit from capabilities designed to support:

• International collections from overseas customers
• Supplier payments to businesses in other markets
• Cross-border business transactions across multiple trade corridors
• More connected payment operations for companies expanding across Southeast Asia

By connecting localized payment capabilities with its international network, XTransfer seeks to make cross-border business payments more accessible to SMEs that may traditionally have had fewer payment infrastructure options than large multinational companies.

The development of cross-border payment infrastructure increasingly depends on collaboration between fintech companies and established financial institutions.

Representatives from major Malaysian financial institutions, including Maybank, CIMB, and OCBC, attended the opening ceremony of XTransfer’s Malaysia office.

Their participation highlights the broader role of cooperation between financial institutions and fintech companies in developing more connected payment infrastructure for businesses engaged in international trade.

As Malaysia strengthens its position within regional supply chains, collaboration across the financial ecosystem can help support businesses operating across multiple markets.

XTransfer’s Malaysia expansion forms part of its broader strategy to strengthen its presence in Southeast Asia.

Malaysia’s role as a regional trade and manufacturing hub provides an important base for serving businesses involved in China–Malaysia trade as well as wider Southeast Asian supply chains.

For SMEs, access to more connected cross-border payment infrastructure can help reduce operational complexity and support expansion into new international markets.

XTransfer aims to combine local market capabilities, regulatory alignment, and its global payment network to support the evolving needs of businesses participating in Southeast Asia’s cross-border trade.

About XTransfer

XTransfer is a global fintech company building digital payment infrastructure for businesses engaged in international trade. Through its B2B cross-border payment platform, XTransfer helps SMEs manage global collections, supplier payments, and multi-market settlement with secure, compliant, and efficient payment solutions. Founded in 2017, XTransfer serves more than 1 million enterprise clients globally, provides payment services across 200+ countries and regions, and processed more than US$60 billion in total payment volume (TPV) in 2025, according to CIC. Recognised by CIC as a leading B2B cross-border payment platform, XTransfer connects financial institutions with SMEs worldwide, enabling businesses to access secure payment infrastructure traditionally available mainly to multinational corporations and participate more efficiently in global trade.

1. Malaysia External Trade Development Corporation (MATRADE) — “Malaysia Surpasses RM3 Trillion Trade Milestone in 2025”
   (Malaysia’s total trade reached RM3.061 trillion in 2025, increasing 6.3% year-on-year)
   https://www.matrade.gov.my/
2. Department of Statistics Malaysia (DOSM) — “Malaysia External Trade Statistics”
   (China remained Malaysia’s largest trading partner for the 17th consecutive year; Malaysia-China trade reached RM542.2 billion in 2025)
   https://www.dosm.gov.my/
3. Bank Negara Malaysia (BNM) — Payment Licence Announcement
   (XTransfer received conditional approval for key payment licences in Malaysia)
   https://www.bnm.gov.my/
4. XTransfer — “XTransfer Unveils New Malaysia Office”
   (Malaysia office opening; Maybank, CIMB, and OCBC representatives attended the ceremony; Southeast Asia expansion strategy)
   https://www.xtransfer.com/
5. XTransfer — “XTransfer Receives Malaysia Central Bank’s Conditional Approval for Key Payment Licence”
   (BNM approval milestone; Bill Deng CEO quote)
   https://www.xtransfer.com/
6. XTransfer Official Website
   (1 million+ enterprise clients globally; 200+ countries and regions)
   https://www.xtransfer.com/
7. XTransfer — HKEX Application Proof
   (US$60 billion+ total payment volume (TPV) in 2025)
   https://www1.hkexnews.hk/app/sehk/2026/108462/documents/sehk26042402872.pdf