XTransfer, a global B2B cross-border trade payment platform, announced that XTransfer Chile SpA has completed registration with Chile’s Unidad de Análisis Financiero (UAF), marking a key milestone in the company’s Latin America expansion. The UAF serves as Chile’s financial intelligence unit, responsible for analyzing financial transactions to combat money laundering and terrorist financing, and completing registration places the local entity within the country’s anti-money laundering oversight framework. The registration strengthens XTransfer’s local compliance foundation in Chile and supports its ability to provide cross-border payment solutions to businesses in the market.

XTransfer specializes in serving small and medium-sized enterprises (SMEs) engaged in international trade, helping them simplify international collections and payments while navigating cross-border trade and compliance requirements.

China–Chile Trade Growth Fuels Demand for Cross-border Payments

The China–Chile Free Trade Agreement was the first bilateral free trade agreement signed between China and a Latin American country, coming into effect in 2006. Bilateral trade between the two countries grew from over US$7 billion in 2005 to US$66.905 billion in 2025 — nearly a tenfold increase over two decades — with China remaining Chile’s largest trading partner for many consecutive years, according to China Customs data.

XTransfer’s own data reflects the deepening trade ties between the two countries: payment collections from Latin America rose 94% year-on-year in 2025, with collections from Chile increasing by 79%.

Solving Export Payment Bottleneck

Despite this growth, many exporters still face the bottleneck of “easy to export, hard to get paid.” Latin American buyers often prefer paying in local currencies, while exporters may lack suitable collection channels. USD settlement can add foreign exchange costs and cross-border fees, and post-payment steps — including conversion, settlement, and repatriation — can slow cash flow and affect fulfilment. Businesses therefore need a full-chain solution covering pay, collect, settle, and repatriate.

To address this, XTransfer leverages its global local collection network and partnerships with licensed financial institutions to provide eligible companies with local-currency collection accounts in key Latin American markets including Chile, Brazil, Mexico, Colombia, Argentina, and Peru, supporting currencies such as the Chilean Peso, Brazilian Real, and Mexican Peso. Buyers can pay from local bank accounts via local clearing, while exporters can convert and settle into RMB through XTransfer, accelerating fund return and improving cash utilization. The UAF registration adds a formal compliance layer to this setup in Chile, a market where the company’s collections grew 79% in 2025.

“Completing our UAF registration is a key milestone in our Latin America expansion,” said Violas Xiao, Singapore and LatAm CEO of XTransfer. “XTransfer will continue to invest in regulated markets and strengthen its payment infrastructure to support SMEs participating in cross-border commerce,” she added.

Source: Globalfintechseries