XTransfer, a global B2B cross-border payment platform, has partnered with Maybank, one of ASEAN’s leading banks, to expand cross-border payment services and Shariah-compliant financial solutions.
The partnership was made official during the Singapore FinTech Festival 2025, where senior representatives from both companies signed a Memorandum of Understanding (MOU) at the event.
Through this partnership, XTransfer and Maybank will combine their strengths to offer complete cross-border financial solutions for businesses.
These services will include domestic and international payments and foreign exchange (FX) conversion across major markets such as ASEAN countries, Hong Kong, the United Kingdom, and the United States.
XTransfer and Maybank will use new technologies such as APIs, digital platforms, collection tools and virtual accounts to make transactions faster and more efficient. These innovations will allow real-time FX conversion and automated payment processing, improving the speed and reliability of cross-border financial services.
Seeing the rising demand for Islamic finance in ASEAN, both companies plan to develop Shariah-compliant FX and payment services that meet the unique needs of regional businesses.
These new solutions aim to promote financial inclusion and support businesses that require Shariah-compliant financial options.
The partnership strengthens XTransfer’s presence in Southeast Asia and enhances its multi-currency settlement capabilities, while also helping Maybank grow its regional network and improve ecosystem connectivity.
Bill Deng, Founder and CEO of XTransfer, said, “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 said, “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 USD1 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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