XTransfer Receives Malaysia Central Bank’s Conditional Approval for Key Payment Licences
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Plans Regional Operational Hub and Supports Local SME Trade Settlements
KUALA LUMPUR, MALAYSIA -
Media OutReach Newswire - 26 February 2026 –
XTransfer,
the World's Leading B2B Cross-Border Trade Payment Platform, is pleased to announce that it has received conditional approval from
Bank Negara Malaysia (BNM) for key payment licences, including issuing
electronic money, as well as a
Money Services Business Licence (Class A) covering remittance and currency exchange.
XTransfer receives Malaysia Central Bank’s conditional approval for key payment licences.
Upon completing the pre-issuance conditions and being permitted to launch,
XTransfer plans to introduce digital payment services in Malaysia
designed to support businesses, particularly small and medium-sized
enterprises (SMEs) engaged in international trade. These services are
intended to include streamlined onboarding, convenient funding options,
efficient foreign exchange, and secure remittance and settlement
experiences, with a focus on compliance, security, and operational
reliability, helping Malaysian SMEs reduce friction in legitimate trade
as they scale into regional and emerging-market corridors.
"Receiving conditional approval from Bank Negara Malaysia is an important milestone for XTransfer in the ASEAN region,"
said Bill Deng, Founder and CEO of XTransfer. "We appreciate
BNM's guidance and oversight. We look forward to bringing Malaysian
businesses compliant and efficient payment solutions that help trade
move faster and more predictably, especially as intra-Asia and broader
South–South trade routes continue to expand.
Malaysia is also central to XTransfer's regional strategy, with a plan to establish Malaysia as its
regional operational hub, serving as a strategic control centre
within Southeast Asia, coordinating compliance, risk management,
customer support, and global operations to ensure alignment with both
local and Group-wide standards.
"Malaysia gives us the talent, governance environment, and regional proximity to scaleacross the region," Bill added.
Founded in 2017, XTransfer is dedicated to using technology to bridge
large financial institutions and SMEs worldwide, providing secure,
compliant, fast, convenient and low-cost cross-border trade payment and
fund collection solutions. With more than 800,000 enterprise clients,
XTransfer has become a global industry leader and continues to expand
internationally to support trading companies worldwide.
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