XTransfer has completed UAF registration in Chile, supporting its expansion in Latin America and local-currency collection services.
B2B cross-border trade payment platform XTransfer has completed the registration of XTransfer Chile SpA with Chile’s Unidad de Análisis Financiero (UAF), as part of its expansion in Latin America. The registration strengthens the company’s local compliance base in Chile and supports its ability to provide cross-border payment services to businesses in the country. XTransfer focuses on SMEs engaged in international trade, helping them manage international collections and payments while meeting cross-border trade and compliance requirements.
China–Chile trade and payment demand
The China–Chile Free Trade Agreement, which came into effect in 2006, was the first bilateral free trade agreement signed between China and a Latin American country. According to China Customs data, bilateral trade between the two countries grew from more than USD 7 billion in 2005 to USD 66.905 billion in 2025. XTransfer’s own data shows that payment collections from Latin America rose 94% year-on-year in 2025, with collections from Chile increasing by 79%.
Despite this growth, many exporters still struggle to receive payment. Latin American buyers often prefer to pay in local currencies, while exporters may lack suitable collection channels. Settlement in US dollars can add foreign exchange costs and cross-border fees, and post-payment steps such as conversion, settlement, and repatriation can slow cash flow and affect order fulfilment.
Local currency collection accounts
To address these issues, XTransfer uses its local collection network and partnerships with licensed financial institutions to provide eligible companies with local-currency collection accounts in Chile, Brazil, Mexico, Colombia, Argentina, and Peru. Supported currencies include the Chilean peso, Brazilian real, and Mexican peso. Buyers can pay from local bank accounts through local clearing, while exporters can convert and settle the funds into renminbi through XTransfer, shortening the time it takes for payments to return to the exporter.
Violas Xiao, Singapore and LatAm CEO of XTransfer, described the UAF registration as a key milestone in the company’s Latin America expansion. According to Xiao, XTransfer will continue to invest in regulated markets and strengthen its payment infrastructure to support SMEs participating in cross-border commerce. Founded in 2017, XTransfer reports more than 1 million registered SMEs and a total payment volume of more than USD 60 billion in 2025, according to CIC. The company provides payment services across more than 200 countries and regions through partnerships with financial institutions, and holds licences in the Chinese Mainland, Hong Kong SAR, the UK, the US, Singapore, the Netherlands, Australia, and Canada.
