Xiamen – September 18, 2026 -- XTransfer, a global B2B cross-border trade payment platform, signed strategic cooperation agreements with China ZheShang Bank (CZ Bank) and Industrial Bank Co., Ltd. (CIB) at the 26th China International Fair for Investment and Trade (CIFIT) in Xiamen, targeting minor-currency collection in emerging markets and RMB conversion services for foreign trade firms.
CIPS launches first cross-border bank-enterprise zone with over 70 banks at CIFIT
The agreements were signed inside a newly established cross-border bank-enterprise cooperation zone set up by CIPS at this year's fair, hosted by China's Ministry of Commerce. More than 70 Chinese and foreign banks showcased cross-border RMB services in the zone, with XTransfer signing its deals there to align with national-level financial infrastructure.
XTransfer and CZ Bank launch all-currency settlement solution for Africa, Middle East, Latin America
XTransfer and CZ Bank jointly announced an all-currency settlement solution powered by XTransfer's X-Net global local-collection network. The service allows CZ Bank's export clients to collect payments in local currencies across Africa, the Middle East, and Latin America, addressing cases where local buyers cannot pay in their own currency and where fund arrival times are prolonged.
CIB partnership enables RMB conversion without affecting export tax rebates
XTransfer and CIB signed a separate agreement to deepen cross-border RMB clearing and minor-currency collection. The service will handle declaration of international receipts on behalf of foreign trade companies during trade settlement, convert funds, and credit them directly to onshore corporate accounts without affecting export tax rebates.
Bill Deng, Founder and CEO of XTransfer, said the partnerships create an end-to-end funding chain covering minor-currency collection in emerging markets through to onshore RMB conversion and withdrawal, so that "minor currencies no longer become a major headache" for companies expanding globally.
XTransfer opens X-Net infrastructure directly to banks for the first time
XTransfer presented its X-Net global settlement and risk-control network to financial institution partners at CIFIT, outlining new cooperation models. Banks have long supplied XTransfer with domestic collections, payments, FX conversion, and cross-border compliance reporting; under the new arrangement, banks can directly use X-Net's cross-border payment and local collection capabilities to serve their own customers.
XTransfer launched a dedicated "Bank Minor-Currency Collection Solution,