XTransfer Helps HK Companies Expand into Emerging Markets, Sees Soaring Collection Volume from Asia, Africa, and Latin America

Written by XTransfer

HONG KONG SAR - Media OutReach Newswire ^[1] - 11 April 2025 - XTransfer, the world's leading and China's No.1 B2B Cross-Border Trade Payment Platform, proudly returns to the Global Sources Consumer Electronics Show 2025 at AsiaWorld-Expo. As one of the most influential global sourcing events, the exhibition draws over 200,000 international buyers seeking to discover cutting-edge products and forge strategic partnerships with suppliers. XTransfer showcases its innovative "Global Business Account" and "Local Currency Account" solutions, offering Hong Kong and global SMEs a more efficient, secure, and cost-effective cross-border payment service.

XTransfer at the Global Sources 2025

In recent years, global enterprises have increasingly looked beyond traditional markets in Europe and the United States. Amid shifting global trade dynamics, commerce with emerging economies is projected to experience sustained growth. Hong Kong is seeing a notable rise in trade activity with emerging markets, particularly in ASEAN, South America, and Africa, reflecting a broader trend toward diversified global trade partnerships.

According to XTransfer's latest data, the first quarter of 2025 (January–March) saw a remarkable surge in cross-border collections from emerging markets. Collection volume from XTransfer's Hong Kong clients trading with ASEAN, Africa, and Latin America increased by an impressive 300% year-over-year, with Nigeria recording the highest growth. During this period, collections from these three regions accounted for nearly 50% of the total collection volume from XTransfer's Hong Kong clients. Additionally, close to 70% of all clients on the XTransfer platform in Q1 of 2025 exported to Asia, Africa, or Latin America, underscoring a clear shift in trade focus toward high-growth emerging markets.

To support this trend, XTransfer not only provides Hong Kong clients with the "Global Business Account" but also offers the "Local Currency Account", enabling clients to receive payments in local currencies from multiple emerging countries directly. In addition to traditional markets like the US, Canada, the Eurozone, and Australia, supported countries include ASEAN markets such as Indonesia and Vietnam, Latin American countries such as Brazil and Mexico, and African countries such as Nigeria and Kenya, covering over 30 countries and supporting more than 56 local currencies.

This service addresses the common issue of a lack of US dollars in emerging markets and avoids foreign exchange losses caused by necessary conversions through intermediary banks. For overseas buyers, paying in local currencies also significantly reduces remittance costs for both parties.

Additionally, XTransfer's "Local Currency Account" support 24 types of local currency payments. Hong Kong companies that need to pay overseas partners in local currencies can do so easily through XTransfer. By using local clearing networks, there are no intermediary bank fees, and payments can be received instantly in the fastest cases. These services are estimated to reduce remittance fees by 95% and foreign exchange costs by 80%, significantly improving cash flow efficiency.

Bill Deng, Founder and CEO of XTransfer, said, "Over the past two years, we have actively participated in local events and exhibitions in Hong Kong, strengthening our presence in the market. This year, we are once again taking part in the Global Sources Consumer Electronics Show further to promote XTransfer's innovative global trade payment solutions. We aim to help more Hong Kong enterprises adapt to the rapidly changing international trade environment, solve cross-border payment challenges, improve fund operation efficiency, and accelerate global business expansion."

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