Maybank and XTransfer have announced a strategic partnership to enhance cross-border payment solutions, including Shariah-compliant services, across ASEAN. The collaboration was formalised during the Singapore FinTech Festival 2025, where senior representatives from both companies signed a Memorandum of Understanding (MOU).
XTransfer, a leading B2B cross-border trade payment platform headquartered in Shanghai, will work with Maybank to deliver comprehensive financial solutions. These will include domestic and cross-border payments and foreign exchange (FX) conversion, targeting key markets in ASEAN, as well as Hong Kong, the United Kingdom, and the United States.
The partnership will leverage innovative technologies such as APIs, digital platforms, and virtual accounts to facilitate automated, real-time FX conversion and transaction processing. This aims to improve the efficiency and reliability of cross-border financial services.
Recognising the increasing demand for Islamic finance-compliant services in the region, the partnership will also focus on developing Shariah-compliant FX and payment offerings. This move is expected to broaden financial inclusion and meet the evolving needs of businesses seeking such solutions.
Bill Deng, CEO of XTransfer, highlighted the significance of the collaboration, stating, “This collaboration with Maybank marks a significant step in elevating our services across ASEAN.” Dato’ Sri Khairussaleh Ramli, President and Group CEO of Maybank, added, “Together with XTransfer, we can enable more seamless cross-border payments and collections with competitive forex rates for merchants engaged in ASEAN-China trade.”
The partnership is set to deepen XTransfer’s presence in Southeast Asia and support Maybank’s strategy to strengthen its regional franchise and ecosystem connectivity.
