“We hope this landmark achievement will pave the way for more China or international-based companies to expand their operations and grow in the Thai market.”
XTransfer, China’s number one B2B cross-border trade payment platform, has executed its first onshore Thai Baht (THB) trade in Thailand.
The milestone is particularly noteworthy because XTransfer utilized the latest Bank of Thailand’s Non-Resident Qualified Company (NRQC) rules.
This development allows XTransfer to receive local payments from Thai buyers on behalf of exporting companies.
Deutsche Bank is XTransfer’s partner in Thailand
Through Deutsche Bank’s facilitation, payments in THB are converted to Hong Kong Dollars (HKD) and Renminbi (RMB) before being transferred to XTransfer’s international accounts.
This process enables XTransfer to distribute the funds to its export clients efficiently, facilitating smooth…
