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XTransfer and KBank Team Up to Turbocharge International Trade Across ASEAN at SFF 2025
Under the MoU, the parties will work together to evaluate and develop comprehensive cross-border payment solutions, including domestic and cross-border collections and payments, as well as foreign exchange conversion, specifically designed for SMEs operating across ASEAN, including Thailand, Indonesia, and Vietnam. By utilising application programming interfaces (APIs) and the digital platform, XTransfer and KBank aim to facilitate automated, real-time, and seamless FX conversion and transaction processing. This technological collaboration is intended to improve scalability, efficiency, and reliability for clients involved in cross-border trade.
The partnership anticipates a closer operational integration between XTransfer and KBank. This will include enhanced system connectivity, standardised reporting formats, and straight-through processing to improve risk management and service performance. Additionally, to support clients’ working capital needs, XTransfer and KBank will further evaluate lending solutions for Chinese merchants to enhance access to financing and streamline customer journeys.
Bill Deng, Founder and CEO of XTransfer, said, “This collaboration with KBank represents another important milestone in our mission to make cross‑border trade more efficient and inclusive for SMEs across ASEAN. By combining KBank’s regional strengths, we aim to help clients reduce costs, improve cash flow, and increase transaction efficiency. We will continue to strengthen compliance and risk management to build a trusted cross‑border financial infrastructure for our clients.”
Dr. Karin Boonlertvanich, Executive Vice President – Corporate Strategy and Innovation Division Head at KBank, said, “Cross-border trade and commerce in ASEAN has been expanding at a rate of 8%, driven by rapid advancements in digital technology and artificial intelligence (AI). This digital transformation presents unprecedented growth opportunities for small and medium-sized enterprises (SMEs), enabling them to scale efficiently while reducing transactional banking costs and mitigating associated risks.”
In light of the strong growth trajectory of cross-border trade and the emergence of XTransfer as the world’s leading B2B cross-border trade payment platform, KBank is proud to enter into this strategic collaboration. By integrating KBank’s robust regional network—spanning Thailand, Vietnam, Indonesia, and China—with XTransfer’s cutting-edge digital solutions, we aim to deliver seamless, secure, and cost-effective cross-border financial services. This partnership is designed to empower SMEs to expand their reach, enhance operational efficiency, and strengthen their competitiveness in the global marketplace.
Hashtag: #XTransfer #KBank #Crossborder #Payment #SMEs #SFF2025 #MOU
https://www.xtransfer.com
https://www.linkedin.com/company/xtransfer.cn
https://x.com/xtransferglobal
https://www.facebook.com/XTransferGlobal/
https://www.instagram.com/xtransfer.global
The issuer is solely responsible for the content of this announcement.
About XTransfer
XTransfer, world-leading B2B Cross-Border Trade Payment Platform, is dedicated to providing small and medium-sized enterprises (SMEs) with secure, compliant, fast, convenient and low-cost foreign trade payment and fund collection solutions, significantly reducing the cost of global expansion and enhancing global competitiveness. Founded in 2017, the company is headquartered in Shanghai and has branches in Hong Kong SAR, the United Kingdom, the Netherlands, the United States, Canada, Australia, Singapore, Vietnam, Thailand, Malaysia, the Philippines, the UAE, and Nigeria. XTransfer has obtained local payment licences in the Chinese Mainland, Hong Kong SAR, Singapore, the United Kingdom, the Netherlands, the United States, Canada, and Australia. To date, XTransfer serves over 700,000 enterprise clients worldwide.
By cooperating with well-known multinational banks and financial institutions, XTransfer has built a unified global multi-currency clearing network and a data-based, automated, internet-based and intelligent anti-money laundering risk control infrastructure centred on SMEs. XTransfer uses technology as a bridge to link large financial institutions and SMEs around the world, allowing SMEs to enjoy the same level of cross-border financial services as large multinational corporations.
XTransfer completed its Series D financing in September 2021 and achieved unicorn status. The company has a diverse composition of international investors, including D1 Capital Partners LP, Telstra Ventures, China Merchants Venture, eWTP Capital, Yunqi Capital, Gaorong Capital, 01VC, MindWorks and Lavender Hill Capital Partners.
For more information, please visit: https://www.xtransfer.com/
About KBank
Established in 1945, KASIKORNBANK (KBank) has grown into a leading regional financial institution in the AEC+3 market. With a strong competitive edge in the SME segment, KBank is dedicated to being a comprehensive solution provider for both SME and retail banking. The bank also offers a wide array of financial products and services to support corporate clients in expanding their businesses, including supply chain financing, foreign exchange services, and offshore loans.
KBank is deeply committed to supporting SMEs, recognizing their vital role in driving Thailand’s economic resilience and growth. Under its 2025 strategy, “WE GROOM, YOU GROW,” the bank has developed a comprehensive framework to empower SMEs in overcoming economic challenges and achieving sustainable success. This includes providing in-depth knowledge and capability building. KBank also delivers expert financial advisory services to help SMEs manage risk, optimize financial planning, and prepare for expansion. In addition, the bank offers tailored financial solutions, including low-interest and zero-interest loans, designed to enhance liquidity and support long-term investment.
Looking ahead, KBank aims to deliver sustainable value to all stakeholders by leveraging AI and digital innovation, enhancing customer experience, and pioneering new financial solutions. With a target of achieving double-digit Return on Equity (ROE) by 2026, KBank continues to reinforce its role as a dependable partner for SMEs and the broader Thai economy.
For more information, please visit: https://www.kasikornbank.com/en/about
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Thailand Approves $1.99 Billion in New Investment, Led by AI and Advanced Electronics
The approvals, cleared during a meeting of the Thailand Board of Investment (BOI) chaired by Mr. Ekniti Nitithanprapas, Deputy Prime Minister and Minister of Finance, highlight the country’s appeal to multinational corporations seeking reliable production hubs.
“These investments by leading multinationals signal strong global confidence in our industrial capacity,” said Mr. Narit Therdsteerasukdi, Secretary General of the BOI. “By locating key parts of the AI and advanced electronics value chain here, we are connecting our economy directly to the core of next-generation global technology.”
To sustain this influx of high-tech investment, the BOI has restructured and expanded the mandate of its specialized energy panel into the “Subcommittee on Energy Management for Data Center Investment and Project Screening.” Chaired by the Minister of Energy, this body will serve as a one-stop regulatory filter to evaluate data center proposals on resource consumption, environmental impact, and clean energy sourcing before investors can apply for tax incentives, thereby providing policy transparency for international operators.
The largest share of the approvals covers Thailand’s advanced electronics and digital sector, led by companies from East Asia’s technology supply chains. In the AI infrastructure sector, Datasection (Thailand) Co., Ltd., a subsidiary of Japan’s Datasection Inc., will invest USD 235.2 million (7.8 billion baht) to establish high-performance GPU server infrastructure for data hosting in Bangkok and Pathum Thani. This specialized hardware will directly power advanced AI applications and digital businesses in the region.
Doosan Electro-Materials (Thailand) Co., Ltd., a unit of South Korean conglomerate Doosan Corp. and a global leader in non-flow prepregs, will also invest USD 180.2 million (6 billion baht) in Samut Prakan to manufacture copper-clad laminate (CCL) and prepreg, which serve as critical inputs for printed circuit boards (PCBs).
Similarly, Taiwan Union Technology (Thailand) Co., Ltd. is set to invest USD 189.2 million (6.3 billion baht) in Chonburi to manufacture CCL and prepreg designed specifically for high-demand AI servers and data centers. Fulltech Fiber Glass (Thailand) Co., Ltd. will invest USD 99.4 million (3.3 billion baht) to produce specialized glass fiber fabric, a raw material for PCB manufacturing, in Chachoengsao.
Beyond technology, multinational brands and critical infrastructure providers committed major investments to serve regional demand. In the consumer goods sector, Switzerland’s Nestlé (Thai) Co., Ltd. is committing USD 688.7 million (22.9 billion baht) to expand its Samut Prakan production facilities for instant, mixed, and ready-to-drink coffee, targeting both domestic and regional Southeast Asian markets.
National carrier Thai Airways International PCL secured approvals for two expansion projects totaling USD 430.2 million (14.3 billion baht) to lease eight passenger aircraft for its international flight networks.
For the infrastructure sector, Lomrak Green Energy Co., Ltd. will invest USD 168.7 million (5.6 billion baht) across two wind power projects in Lopburi province. The facilities will deliver a combined capacity of 120 megawatts to Thailand’s electrical grid, supporting the clean energy needs of high-demand industrial users.
To accommodate hyper-scale projects, the government has fast-tracked a seven-point energy action plan. This includes establishing a dedicated utility tariff rate for data centers, aligning data centers’ green energy targets with the Power Development Plan, facilitating clean power trading via Direct PPAs, introducing electricity usage guarantee rules, exploring direct high-voltage transmission for major operators, accelerating grid investment, and mapping water and power availability to guide site selections.
“We are building the infrastructure needed for the next wave of future-industry investment,” said Mr. Narit. “The government is aligning resource management with its green transition goals to ensure long-term operational security and give global investors confidence.”
Note: Currency conversions are based on the Bank of Thailand’s average selling rate of approximately 1 USD = 33.30 THB.
Hashtag: #Thailandboardofinvestment #BOI #FDI #Investment
https://www.boi.go.th/en/index/
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Thailand Board of Investment (BOI)
Established in 1966, the Office of the Board of Investment (BOI) has continuously played an essential role for over 60 years in promoting value-adding investment for the country, from both foreign and Thai investors, to enhance national competitiveness and drive towards a new era of sustainable and balanced growth.
Investment Services Center — PR Section, The Office of the Board of Investment (BOI)
555 Vibhavadi-Rangsit Road, Chatuchak Bangkok 10900 Tel. +66 (0) 2553 8111, Fax: +66 (0) 2553 8222
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Genetic Study Reveals Multiple Introductions and Human-Mediated Spread of Invasive Blackchin Tilapia in Thailand
Based on genetic analysis of 466 fish samples collected nationwide, the study identified high genetic diversity, including 19 distinct haplotypes, revealing that the species originated from multiple introduction events rather than a single release. The findings also show that subsequent human-mediated translocations within Thailand played a major role in the species’ rapid spread.
The study represents one of the most comprehensive genetic assessments of blackchin tilapia in Thailand to date. Researchers confirmed that the invasive populations belong to Sarotherodon melanotheron melanotheron subspecies and identified 13 private haplotypes unique to specific populations. Several of these occurred at relatively high frequencies in Samut Songkhram, Prachuap Khiri Khan and Surat Thani, indicating multiple introduction sources and limited mixing among some regional populations.
Using haplotype distribution patterns, network analysis and phylogenetic comparisons, the researchers traced the origins of Thailand’s blackchin tilapia to multiple geographic sources, including Ghana and Côte d’Ivoire, as well as potentially other unsampled native populations in West Africa.
The study also found that blackchin tilapia populations in different parts of Thailand are genetically distinct, particularly in Samut Songkhram, which is believed to be the earliest site of the invasion. At the same time, researchers discovered that fish sharing the most common genetic signature were found in provinces across eastern and southern Thailand, including Chachoengsao, Rayong, Chanthaburi, Chumphon, Nakhon Si Thammarat and Songkhla, suggesting they were transported by human activities rather than spreading naturally through connected waterways.
The researchers said “The findings provide valuable scientific evidence for strengthening surveillance and management of the invasive species. By identifying introduction pathways and patterns of dispersal, the study offers important guidance for preventing further spread, improving biosecurity measures and mitigating ecological impacts on Thailand’s freshwater ecosystems.”
Link to the research paper https://www.sciencedirect.com/science/article/pii/S2352513426002152
Hashtag: #ChulalongkornUniversity
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Aurora Mobile’s EngageLab Showcases AI-First Omnichannel Customer Engagement Solutions at The MarTech Summit Hong Kong
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About EngageLab
EngageLab is an AI-first customer engagement platform that helps you build stronger customer relationships with AI agents, unified customer data, and reliable delivery across channels.
For more information, please contact: ma*******@*******ab.com
Aurora Mobile Limited
