XTransfer Attends Brazil’s Largest E-Commerce Summit

SÃO PAULO--(BUSINESS WIRE)--Aug 12, 2025--

XTransfer, the World's Leading & China's No.1 B2B Cross-Border Trade Payment Platform, recently participated in Fórum E-Commerce Brasil 2025, the largest and most influential e-commerce summit in Brazil. The event brought together leading Latin American e-commerce platforms, including Mercado Libre, Amazon, and TikTok, among others. During the event, XTransfer announced its commitment to deepening its presence in Brazil and the Latin American market, partnering with local banks and financial institutions to provide secure, convenient, and compliant cross-border payment solutions for SMEs in Brazil and across Latin America.

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Currently, Brazil is the largest e-commerce market in Latin America. According to data from Latin American analytics platform PCMI, Brazil’s total e-commerce transaction volume exceeded USD 346 billion in 2024. The platform also forecasts that by 2027, over two-thirds of Brazilians will be online shoppers, and e-commerce transaction volume will reach USD 586 billion. The number of online shoppers in Brazil has surpassed 100 million, with cross-border shopping demand continuously growing, and more SMEs actively participating in international trade. The overall e-commerce market in Latin America is also experiencing rapid development, showing enormous potential.

XTransfer’s Leader in Brazil Office stated at the forum, “The e-commerce development in Brazil and Latin America is booming, and consumers’ demand for cross-border payments and local collection is increasing. XTransfer is working closely with local banks and financial institutions in Brazil to provide SMEs with safe, compliant, and low-cost local payment and collection services, helping companies reduce international payment costs, improve operational efficiency, and seize global opportunities.”

Through XTransfer accounts, global foreign trade enterprises can directly receive payments from Brazilian buyers in Brazilian Real (BRL). Buyers in Brazil and across Latin America can use PIX (Brazil’s instant payment method) to pay suppliers in China and worldwide in BRL, eliminating the need for complex foreign exchange procedures and reducing intermediaries and exchange losses. In the future, XTransfer will continue to expand its cooperation network in the Latin American market, promote global trade facilitation, and empower more enterprises to go international.

XTransfer’s Leader in Brazil Office at the Forum.

DAKAR, Senegal (AP) — Senegal’s President Bassirou Diomaye Faye has fired Prime Minister Ousmane Sonko after years of simmering tension.

The decision was announced by the secretary general of the government, Oumar Samba Ba, during a late-night broadcast on Friday.

The firing caps a period of open confrontation between the two former allies from the Patriotes Africains du Sénégal pour le Travail, l’Éthique et la Fraternité (Pastef) party who had defeated the former ruling party.

Ba said the sacking of the prime minister led to the resignation of all the members of the government and its dissolution.

The Pastef party had ridden into office after a fierce campaign mounted against the then-ruling party Alliance pour la République following widespread speculation that former President Macky Sall used a 2016 constitutional change to revise his term in office. Sall, who led the country between 2012 and 2024, eventually did not contest the election and his party lost.

Sonko, who heads the Pastef party, was barred for running after a defamation conviction was upheld by Senegal's supreme court and the Constitutional Court dismissed his candidacy. Faye ran instead of Sonko.

“Praise be to Allah. Tonight I will sleep with a light heart in the Keur Gorgui neighborhood,” Sonko wrote in a short post on X after his dismissal.

FILE - Senegalese opposition leader Ousmane Sonko addresses journalists following his release from police custody in Dakar, Senegal, on March 8, 2021. (AP Photo/Sylvain Cherkaoui, File)

Senegal President Bassirou Diomaye Faye attends the Africa Forward Summit at the Kenyatta International Convention Centre in Nairobi, Kenya, Tuesday, May 12, 2026. (AP Photo/Brian Inganga)