XTransfer has opened a new office in Malaysia. The cross-border payments company stated the expansion will position Malaysia as a strategic hub for its operations across Southeast Asia.
The XTransfer Malaysia office launch follows the company receiving conditional approval from Bank Negara Malaysia (BNM) for key payment licenses in February.
Upon completing pre-issuance conditions, XTransfer intends to roll out digital payment services tailored for Malaysian SMEs engaged in international trade.
Representatives from major local financial institutions attended the opening ceremony.
Attendees included Winnie Wong, Director of Financial Institutions Group at Maybank, Sylvia Wong, Regional Head at CIMB, and Daphne Yoo, Director at OCBC.
XTransfer expects the new local presence to strengthen its regional trade finance services.
The company provides B2B cross-border payment and collection solutions designed to connect businesses with global financial networks.
By establishing operations in Malaysia, XTransfer aims to improve its localised settlement networks.
The company noted that the expansion will support regional trade businesses in accessing broader international markets.
Featured image credit: Edited by Fintech News Malaysia, based on image by XTransfer
