XTransfer secures EMI licence from Dutch central bank

By Gloria Methri

XTransfer, the Chinese B2B cross-border trade payment platform, has secured an Electronic Money Institution (EMI) licence from De Nederlandsche Bank (DNB), the Netherlands’ central bank.

The newly acquired licence enables XTransfer to launch localised payment services in the Netherlands, including local accounts, cross-border settlements, and foreign exchange solutions tailored for Dutch SMEs engaged in international trade. As the Netherlands ranks as China’s second-largest trading partner in the EU and is home to the critical Port of Rotterdam, XTransfer’s presence is set to play a pivotal role in facilitating faster, more cost-efficient transactions for Europe’s trade-focused businesses.

Obtaining this license is a significant endorsement of XTransfer’s compliance capabilities and validates the company’s credibility, transparency, and security in global markets.

Bill Deng, Founder and CEO of XTransfer, said, “Receiving this license from DNB is a significant milestone in our global strategy, following our earlier authorisation as an Authorised Payment Institution by the UK’s Financial Conduct Authority (FCA). With the Netherlands as our operational base, we plan to expand our services across all 30 countries in the European Economic Area (EEA). Our goal is to provide secure, efficient, and cost-effective cross-border payment solutions to more SMEs. Additionally, we will seek further opportunities in emerging markets by leveraging the Netherlands’ financial connectivity with regions like Africa and the Middle East.”

Since its founding in 2017, XTransfer has built a global regulatory footprint across major markets including the US, UK, Singapore, Canada, Australia, and Hong Kong SAR. With more than 600,000 trade enterprises served worldwide, the acquisition of the EMI licence in the Netherlands signals another major leap in XTransfer’s mission to simplify global trade payments for SMEs.