SPD Bank Shanghai, XTransfer team up to help Chinese SMEs expand overseas

They aim to provide “safer, more efficient, more convenient” global collection and cash management services.

XTransfer has entered into a strategic partnership agreement with SPD Bank Shanghai Branch.

The partnership aims to enhance the two companies’ collaboration on a number of objectives, including local accounts, multi-currency settlement, and compliance risk control.

They aim to provide SMEs engaged in foreign trade with “safer, more efficient, and more convenient global collection and cash management services,” according to a press release published 16 September 2025.

Zhang Xianfeng, vice president of the SPD Bank Shanghai Branch, said that they are committed to enhancing their cross-border financial service system to provide “robust” financial support for Chinese enterprises expanding globally.

"SPD Bank will continue to collaborate closely with XTransfer, aiming to achieve the goal of 'local accounts that connect the globe and explore new opportunities in foreign trade',” Zhang said.

Looking ahead, the two parties said that they will continue to enhance their cooperation on several key objectives, including local accounts, multi-currency settlement, and risk control system development.

Earlier, XTransfer announced a separate partnership with CZBank Shanghai Branch to enhance cross border finance.