Maybank inks cross-border payments MOU with XTransfer

Collaboration expands FX and Islamic payment reach across ASEAN markets

Maybank signed a memorandum of understanding (MOU) with XTransfer at the Singapore FinTech Festival 2025 to expand cross-border FX conversion and develop Islamic finance-compliant payment services.

The partnership enables Maybank to scale FX and transaction processing across ASEAN, Hong Kong, the United Kingdom and the United States. 

The bank will deploy API-based platforms, virtual accounts and automated settlement tools to support real-time multi-currency flows.

Maybank and XTransfer will co-develop Shariah-compliant FX and payment offerings tailored to regional demand. 

ASEAN-China trade flows  are projected to reach $1t in total value this year, according to Maybank.

The collaboration strengthens Maybank’s cross-border capabilities and supports delivery of competitive FX rates and scalable transaction infrastructure for merchants operating across regional and global corridors.