AMSTERDAM, June 5, 2026 /PRNewswire/ -- XTransfer, the world's leading B2B cross-border trade payment platform, and Societe Generale, a leading European bank in transaction banking, announced having signed a Memorandum of Understanding (MOU) during Money20/20 Europe 2026 in Amsterdam, to enhance cross-border payment infrastructure and develop integrated financial solutions to support international trade flows.
The cooperation aims to deliver more efficient, seamless and cost-effective cross-border payment experiences, particularly for businesses operating from China across Europe and global markets.
As global supply chains diversify and international trade becomes increasingly digital and interconnected, companies expect cross-border payments that are not only secure and compliant but also faster, more predictable and easier to automate. Yet despite growing flows, many still face persistent frictions: fragmented collection solutions, limited transparency over fees and FX, lengthy settlement times, and complex compliance requirements across jurisdictions.
Against this backdrop, XTransfer and Societe Generale will combine their respective strengths - bank-grade resilience, regulatory expertise and execution capabilities with platform-enabled digital connectivity - to streamline international payment flows and improve client experience across markets.
Under the MOU, the parties will explore the development of integrated cross-border financial solutions. This includes developing local collection and outbound payment solutions that help suppliers collect from overseas buyers more efficiently and reliably, while enabling global importers to pay suppliers worldwide with greater speed, security and end-to-end operational certainty.
The cooperation also includes "Pay to China" services with USD and CNY settlement and transfer services in Hong Kong SAR and Mainland China, strengthening connectivity for trade flows between Asia and Europe and supporting more seamless cross-border settlement.
The parties will further explore FX solutions to enable fast and reliable conversion of local currencies into major FX currencies such as USD and EUR, supporting smoother settlement and greater certainty for cross-border traders.
Bill Deng, Founder and CEO of XTransfer, said, "We are pleased to sign this MOU with Societe Generale to strengthen X-Net, a globally unified B2B cross-border settlement network and risk management platform developed by XTransfer, with deeper banking connectivity for global traders. By combining Societe Generale's transaction banking capabilities with XTransfer's platform and global SME network, we aim to deliver more digital, scalable cross-border payment solutions for traders worldwide."
Andreea Parneci, Deputy Head of Global Transaction and Payment Services at Societe Generale added: "Seamless and transparent cross-border payments are now a baseline expectation for internationally active clients. By combining our global infrastructure with an innovative digital platform such as XTransfer, we continue to enhance the efficiency and reliability of international payments. This initiative also reflects our ambition to further scale our transaction banking franchise, helping clients navigate an increasingly complex global trade landscape."
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