TransFi launches BizPay for Southeast Asian SMEs

By Parth Prabhudesai

TransFi has launched BizPay, a cross-border payments platform aimed at helping small and medium-sized enterprises (SMEs) across Southeast Asia simplify international transactions.

The Dubai-based fintech said the platform is initially focused on businesses in Indonesia, Malaysia, Vietnam and the Philippines, offering collections and payouts through a single chat-style interface.

BizPay uses stablecoin infrastructure alongside AI-powered payment routing to improve transaction speed and reduce transfer costs. The company said the system automatically selects the most efficient payment route across both stablecoin and traditional fiat payment rails.

TransFi operates on what it describes as a “stablecoin sandwich” model, allowing businesses to benefit from blockchain-based settlement infrastructure without directly holding volatile crypto assets.

The launch comes as governments and regulators across Southeast Asia continue pushing for stronger regional payment connectivity. Indonesia recently joined the BIS Project Nexus initiative, while Vietnam and the Philippines are advancing digital finance and remittance interoperability programmes.

According to TransFi, the platform is designed to address payment inefficiencies commonly faced by SMEs and freelancers in the region. The company cited examples such as enabling Vietnamese freelancers to receive US dollar payments through local banking systems more efficiently.

TransFi said it has processed more than US$1 billion in transaction volume to date and raised approximately US$19.2 million in funding. The company also holds regulatory registrations in Singapore, Lithuania and Canada.

The launch highlights a broader trend within the fintech and digital asset sectors, where stablecoins are increasingly being positioned as back-end settlement infrastructure rather than speculative consumer products.

BizPay enters a competitive cross-border payments market currently dominated by traditional networks such as SWIFT and fintech firms including Wise and Airwallex, which primarily operate on fiat-based systems.

The company said the platform aims to help SMEs access faster, lower-cost and more streamlined international payment services as cross-border commerce in Southeast Asia continues to expand.