XTransfer and Maybank form strategic partnership
18 November 2025 Singapore
Image: rinrada/stock.adobe.com
XTransfer, a business-to-business cross-border trade payment platform, and Maybank, a bank in ASEAN, have entered a strategic partnership to expand cross-border payment and Shariah-compliant solutions.
Senior representatives of XTransfer and Maybank officially signed the Memorandum of Understanding (MOU) at the Singapore FinTech Festival 2025.
Under the collaboration, XTransfer and Maybank will harness their respective strengths to deliver cross-border financial solutions, spanning domestic and cross-border payments and FX conversion, across key ASEAN markets, Hong Kong, United Kingdom and United States.
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.
The firms say 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, comments: "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, notes: "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 US$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."
Senior representatives of XTransfer and Maybank officially signed the Memorandum of Understanding (MOU) at the Singapore FinTech Festival 2025.
Under the collaboration, XTransfer and Maybank will harness their respective strengths to deliver cross-border financial solutions, spanning domestic and cross-border payments and FX conversion, across key ASEAN markets, Hong Kong, United Kingdom and United States.
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.
The firms say 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, comments: "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, notes: "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 US$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."
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