KUALA LUMPUR (Nov 13): Malayan Banking Bhd (KL:MAYBANK) has partnered B2B cross-border trade payment platform XTransfer to capitalise on rising Asean-China trade flows.

The collaboration was formalised at the Singapore FinTech Festival 2025, where Maybank and XTransfer signed a memorandum of understanding (MOU) to expand cross-border payment and shariah-compliant financial solutions across Asean.

This move aims to strengthen both firms’ regional connectivity by offering seamless, technology-driven financial services for businesses engaged in international trade.

"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," said Maybank Group CEO Datuk Seri Khairussaleh Ramli in a statement."

"Total trade value is on track to reach US$1 trillion [RM4.13 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,” he adds.

Under the MOU, both parties will deliver end-to-end cross-border financial solutions covering domestic and international payments, as well as foreign exchange (FX) conversion across Asean, Hong Kong, the UK and the US.

The partnership will leverage APIs, digital platforms, and virtual accounts to enable automated, real-time transactions and FX conversion.

Meanwhile, both parties will also explore shariah-compliant FX and payment offerings to meet growing demand for Islamic finance services in the region.

XTransfer CEO Bill Deng noted that the tie-up will enhance local collection capabilities, FX conversion and potential shariah-compliant settlement options, helping clients lower transaction costs, improve cash flow and strengthen compliance.