Cross-border payments platform XTransfer said it plans to establish a regional compliance centre in Malaysia, outlining the move at Forum Ekonomi Malaysia 2026.

Founder and CEO Bill Deng spoke on a panel on accelerating technology applications and innovation under the 13th Malaysia Plan alongside Deputy Finance Minister Liew Chin Tong and SkyeChip Senior Director of Engineering Ooi Ching Liang.

The discussion examined ways to strengthen high-growth industries and support MSMEs in global value chains.

Deng said many Malaysian SMEs are able to export but struggle to scale due to operational and compliance hurdles.

He cited payment delays, repeated documentation checks, foreign exchange uncertainty and working capital strain as key issues.

Deng added that the complexity of cross-border payments, foreign exchange management and anti-money laundering requirements often creates friction for both banks and businesses and can slow legitimate trade.

He also pointed to shifting trade patterns, including growing intra-Asia and emerging market corridors.

In 2025, XTransfer recorded a 106 percent year-on-year increase in average collection amounts across Asia, Africa and Latin America.

Africa grew by more than 270 percent, while Latin America and ASEAN rose by 94 percent and 82 percent respectively. Liew said these trends reflect trade corridors Malaysia could further pursue.

“Malaysia gives us the talent, governance environment, and regional proximity to scale compliance as intra-Asia and emerging-market trade accelerates,”

Bill added.

Watch Bill Deng discuss cross-border payment challenges facing SMEs in a recent Fintech Fireside Asia interview here.

Featured image: Bill Deng (second from the right), Founder and CEO of XTransfer, joins as a speaker at Forum Ekonomi Malaysia 2026.