XTransfer and Banking Circle Announce Strategic Partnership

Collaboration Set to Boost Payment Capabilities for Importers/Exporters  in Europe and the Middle East

HONG KONG SAR – Media OutReach Newswire – 11 June 2024 – XTransfer, the World’s Leading & China’s No.1 B2B Cross-Border Trade Payment Platform, and Banking Circle, the innovative tech-driven Payments Bank, have entered into a strategic partnership. This collaboration aims to reduce the cost and processing time of cross-border payments for XTransfer’s clients, particularly benefiting Chinese suppliers with significant markets in Europe and the Middle East.

Both XTransfer and Banking Circle are committed to minimising the cost associated with global trade payments. XTransfer focuses on providing SMEs with secure, compliant, fast, and cost-effective cross-border payment and fund collection solutions, thereby enhancing global competitiveness and facilitating international expansion. Banking Circle has established a comprehensive local clearing network for major currencies and an effective FX engine supporting 24 currencies, ensuring quick, low-cost payments without hidden fees.

Through the integration of Banking Circle’s infrastructure, XTransfer can now offer its clients a broader array of local payment and fund collection options. Clients will be able to receive payments not only in major currencies like the US Dollar, Euro, GBP, and Danish Krone, but also in six additional currencies in Europe and the Middle East. This partnership is expected to expand further, with plans to introduce even more currency options in the near future.

This development is particularly advantageous for businesses dealing with Chinese suppliers. Buyers in Europe and the Middle East will have the convenience of paying Chinese suppliers in a wider range of local currencies.

Bill Deng, Founder and CEO of XTransfer, commented on the partnership, “Our alliance with Banking Circle represents a significant step forward in our expansion into the European and Middle Eastern markets. This partnership not only accelerates XTransfer’s global ambitions but also promises to revolutionise the international trade landscape for businesses. We are eager to see the continued success of this collaboration.”

Laust Bertelsen, Co-Founder and CEO of Banking Circle added, “We are thrilled to support XTransfer’s vision for global trade. By leveraging Banking Circle’s accounts and payment rails, XTransfer can streamline the payment process for its clients, reducing both costs and transaction times.”


XTransfer, World’s Leading & China’s No.1 B2B Cross-Border Trade Payment Platform, is dedicated to providing SMEs with secure, compliant, fast, convenient and low-cost foreign trade payment & fund collection solutions, significantly reducing the cost of global expansion and enhancing global competitiveness. Founded in 2017, the company is headquartered in Shanghai and has branches in Hong Kong, the United Kingdom, the Netherlands, the United States, Canada, Japan, Australia, and Singapore. XTransfer has obtained local payment licenses in Hong Kong, the United Kingdom, the United States, Canada, and Australia. With more than 450,000 enterprise clients, XTransfer has become the industry No.1 in China.

By cooperating with well-known multinational banks and financial institutions, XTransfer has built a unified global multi-currency clearing network and built a data-based, automated, Internet-based and intelligent anti-money laundering risk control infrastructure centred on small and medium enterprises. XTransfer uses technology as a bridge to link large financial institutions and small and medium enterprises around the world, allowing SMEs to enjoy the same level of cross-border financial services as large multinational corporations.

XTransfer completed its Series D financing in September 2021 and achieved unicorn status. The Company possesses a diverse composition of international investors, including D1 Capital Partners LP, Telstra Ventures, China Merchants Venture, eWTP Capital, Yunqi Capital, Gaorong Capital, 01VC, MindWorks and Lavender Hill Capital Partners.

For more information: https://www.xtransfer.com/


The Islamic Resistance has eulogized four martyrs who fell on the road to al-Quds. In a series of statements, the Islamic Resistance announced the martyrdom of fighters Taleb Sami Abdallah from the southern town of Adchit, Mohammad Hussein Sabra from the southern town of Haddata, Salim Soufan from the southern town of Jouwaya, and Hussein Qassem Hmayed from the southern town of Bint Jbeil. Source: National News Agency - Lebanon

400,000 Livestock Inspected by Weqaa Center Before Entering Makkah

Makkah: The Makkah region branch of the National Center for the Prevention and Control of Plant Pests and Animal Diseases (Weqaa) has inspected around 400,000 heads of livestock before their entry into Makkah. This inspection took place from May 23, 2024, to June 9, 2024, to ensure the animals are healthy and free from contagious diseases for the Hajj season. Director General of Weqaa's Makkah branch Dr. Ghaleb Al-Saedi highlighted that all imported and local livestock undergo daily visual inspection by epidemic disease control teams. These teams, supervised by the branch's animal health department, ensure the animals are free from contagious or epidemic diseases before entering the markets. Al-Saedi added that the teams also investigate animal diseases in importers' pens, issue health certificates for healthy livestock, and promptly isolate any suspected cases. Furthermore, the epidemic disease control teams continue their inspections and issue necessary clearances at the entrances surrounding Makkah city. The efforts of the field teams have resulted in the clearance of nearly 400,000 livestock for entry into Makkah. Additionally, they have conducted 1,591 rounds of disease vector surveillance and control, along with 403 rounds of monitoring in markets and slaughterhouses. Source: Saudi Press Agency

Adaa Measures Pilgrim Satisfaction During Hajj Journey

Makkah: The National Center for Performance Measurement (Adaa) is gauging pilgrim satisfaction for the 1445 AH Hajj season. This initiative targets 81 services provided by 18 government agencies to understand pilgrim sentiment regarding the services they receive throughout their Hajj journey, including visits to the Prophet's Mosque. Adaa Director General Rashid bin Abdullah Al-Qaoud emphasized the Kingdom's prioritization of serving pilgrims under the leadership of Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister. He noted that Adaa's year-round efforts include measuring pilgrim satisfaction to improve the quality of services offered in Makkah. The measurement process encompasses the entire Hajj experience, from permit application and travel arrangements to the performance of Hajj rituals, movement between holy sites, support services in Makkah, the visit to the Prophet's Mosque in Ma dinah, and the pilgrims' departure journey. Adaa's work extends to evaluating services provided by a range of ministries, government agencies, and other entities. Source: Saudi Press Agency

General Directorate of Passports: 1,547,295 Pilgrims Have Arrived for Hajj Season 1445 AH

Makkah: The General Directorate of Passports announced yesterday the arrival of 1,547,295 pilgrims for the Hajj season of 1445 AH. This figure encompasses all pilgrims entering the Kingdom through air, land, and sea ports until the end of Monday, 4th of Dhu Al-Hijjah 1445 AH (June 10, 2024). A breakdown of the arrival data revealed that 1,483,312 pilgrims arrived via air travel, while 59,273 pilgrims entered through land ports. Sea ports received a total of 4,710 pilgrims. The directorate emphasized its commitment to facilitating the entry process for all pilgrims. This commitment is reflected in the deployment of the latest technological advancements at international ports alongside a team of highly qualified multilingual personnel to ensure a smooth experience for all arriving for Hajj. Source: Saudi Press Agency

Interior Ministry Showcases Makkah Route Initiative at Hajj Media Hub

Makkah: The Ministry of Interior, through its pavilion at the Hajj Media Hub, has shined a spotlight on its Makkah Route Initiative. The initiative which is a part of the Pilgrim Experience Program under Saudi Vision 2030, aims to provide high-quality services to Hajj pilgrims from beneficiary countries in collaboration with various government entities. The Hajj Media Hub, organized by the Ministry of Media, is taking place at the Makkah Chamber Exhibitions and Events Center from June 10 to 16. The event seeks to raise awareness about the importance of adhering to Hajj regulations and instructions, ensuring the comfort and safety of the pilgrims. Visitors to the Ministry of Interior's pavilion have the opportunity to learn about the significant role played by the Makkah Route Initiative in facilitating the Hajj journey for pilgrims from several countries. This year, the initiative is being implemented for the sixth time in the initiative's lounges across 11 airports in seven countries: Pakistan, Malaysia , Indonesia, Morocco, Bangladesh, Trkiye, and Ivory Coast. The Ministry of Interior is participating in the Hajj Media Hub to showcase the services provided by the general security sectors, General Administration of Security Patrols, General Directorate of Civil Defense, and the National Center for Security Operations. Source: Saudi Press Agency