XTransfer Joins the Chile Fintech Forum 2026

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XTransfer Joins the Chile Fintech Forum 2026

2026-05-12 16:39 Last Updated At：16:40

SANTIAGO, Chile--(BUSINESS WIRE)--May 12, 2026--

XTransfer, the world’s leading B2B cross-border trade payment platform, participated in the Chile Fintech Forum 2026 as Platinum sponsor and introduced X-Net in Latin America for the first time. X-Net is a globally unified B2B cross-border settlement network and risk management platform designed to connect banks and financial institutions with SMEs, supporting more efficient, secure, and inclusive cross-border payment solutions as China–Latin America trade continues to expand.

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SMEs continue to encounter significant obstacles in cross-border payment, including difficulties opening accounts with traditional banks, a high risk of frozen funds, high exchange losses, long remittance times, high remittance costs, and even being forced to remit funds through non-compliant channels.

Introducing X-Net

XTransfer developed X-Net as an infrastructure purpose-built for B2B cross-border trade. The hybrid network works with regulators, banks, and payment institutions to advance standards for fund-flow design, product integration, and risk control. As a settlement and risk-control layer linking financial institutions to import-export enterprises, X-Net aims to standardise collections, payouts, and compliance workflows across participants, helping SMEs access secure, compliant, and seamless payment infrastructure once reserved for multinationals.

The LatAm market potential

Latin America is growing and upgrading fast. XTransfer data shows collections from the region rose 94% year-on-year in 2025, outpacing China’s 8% export growth there and signalling a shift toward secure, compliant collections. The XTransfer Export PMI, a sample survey of XTransfer’s 800,000 SME users, selecting over 3,000 companies nationwide, also points to strong fundamentals, with Latin America’s export order index at 56.47 and price index at 57.81 in March 2026, above global readings of 53.85 and 56.15.

Violas Xiao, Singapore and LatAm CEO of XTransfer, said, “Emerging markets are central to XTransfer’s expansion, and in Latin America. Next, we’ll deepen coverage in Brazil and Mexico while expanding into growth markets like Chile, Colombia, Peru, and Argentina, improving minor-currency liquidity and risk automation so SMEs can pay and collect more predictably and compliantly.”

About XTransfer

XTransfer, the world’s largest B2B cross-border trade payment platform with over US$60 billion TPV in 2025, according to CIC. In Latin America, XTransfer operates in partnership with local banks and financial institutions across Brazil, Chile, Colombia, Mexico, and Peru, to give SME buyers access to local payment networks, enabling them to pay their global suppliers using bank transfers, digital wallets, and instant payment methods such as Brazil’s Pix.

Russia hammers Ukraine for a 3rd straight day, flattening a Kyiv apartment block and killing 7

KYIV, Ukraine (AP) — Russia on Thursday unleashed a third straight day of massive drone and missile attacks on Ukraine, demolishing an apartment building in Kyiv where seven people were killed and dozens injured, authorities said. More strikes elsewhere in the country wounded more than two dozen civilians.

As dawn broke on a clear day in Kyiv, a scene of devastation came into focus in the capital’s leafy Darnytsia neighborhood, located between a suburban forest and the Dnieper River. Wisps of smoke rose from the collapsed nine-story apartment block, where emergency workers dug under concrete slabs and took people away on stretchers. The building's entrance was smashed in the strike, preventing residents from escaping.

All 18 apartments in the building were destroyed, officials said. Among the dead was a 12-year-old girl, Mayor Vitali Klitschko said. The emergency service said seven people were killed, with at least 20 people believed to be missing.

Ukrainian officials noted that the attack coincided with U.S. President Donald Trump’s trip to China. Foreign Minister Andrii Sybiha said Trump and Chinese leader Xi Jinping have sufficient leverage to compel Russian President Vladimir Putin to end his 4-year-old invasion of Ukraine.

“At the very time when leaders of the most powerful countries are meeting in Beijing, and the world hopes for peace, predictability and cooperation, Putin launched hundreds of drones, ballistic and cruise missiles at the capital of Ukraine,” Sybiha wrote on X.

“Only pressure on Moscow can make him stop,” Sybiha said of Putin.

Russia fired ballistic and cruise missiles in the attack, Ukrainian President Volodymyr Zelenskyy said, adding that Moscow had launched more than 1,560 drones against Ukrainian population centers since Wednesday. In all, some 180 sites across the country were damaged, including more than 50 residential buildings, he said.

British Defense Secretary John Healey called Thursday's attack “shocking” and said he had accelerated U.K. deliveries of air defenses.

Russia has hammered Ukraine with large-scale aerial attacks following a May 9-11 ceasefire that Trump said he asked Zelenskyy and Putin to heed. Fighting continued over those 72 hours, although reportedly at a reduced intensity.

The attacks undercut recent suggestions from Trump and Putin that the war, which began with Moscow's all-out invasion of its neighbor in 2022, is nearing its end.

More than 30 people were injured in the apartment building collapse, while emergency workers rescued 28 residents, Interior Minister Ihor Klymenko said.

In neighboring blocks, windows had shattered from the blast wave.

Lyudmila Hlushko, 78, said she heard explosions and the sound of rockets about 3 a.m. “Then the house shook violently and there was a loud bang, breaking the glass in my house,” she told The Associated Press.

Another resident, Nadiia Lobanova, said “it was a terrible night.”

“We’re used to this. Well, it’s impossible to get used to this, but somehow we held on,” she added.

Damage was recorded across six districts of the capital, according to head of Kyiv’s Military Administration Tymur Tkachenko.

The Kyiv office of defense contractor Skyeton, specializing in reconnaissance drones, was destroyed in the overnight attack, although the company said it had anticipated such a development and had relocated its production. Russia frequently justifies strikes on civilian areas as taking aim at industrial or other war-related facilities.

The Ukrainian cities of Kremenchuk, Bila Tserkva, Kharkiv, Sumy and Odesa also were bombarded, officials said.

“We are now experiencing the largest strikes since the start of the full-scale invasion,” air force spokesperson Yurii Ihnat told Ukrainian public broadcaster Suspilne.

Ukraine’s air defense forces are under severe strain, he said. Even so, the interception rate of drones and missiles was over 93%, Zelenskyy said.

Air defenses shot down or jammed 693 Russian targets overnight, including 41 missiles and 652 drones of various types nationwide, the air force said.

Fifteen missiles and 23 drones scored direct hits across 24 locations, it said. Debris from downed drones fell in another 18 locations.

Strikes on energy infrastructure left customers in Kyiv and 11 other regions temporarily without power, national grid operator Ukrenergo said.

On Wednesday, a rare daytime attack on Kyiv killed at least six people, Zelenskyy said. That assault, which involved 800 drones, struck about 20 regions and was among the longest such attacks of the war.

In other developments Thursday:

— The Hungarian government summoned the Russian ambassador over a drone attack near Hungary’s border with Ukraine. The step marked a stark shift in tone by new Prime Minister Péter Magyar toward Moscow after years of cozy relations with the Kremlin under former leader Viktor Orbán.

— Latvian Prime Minister Evika Silina resigned after her government’s coalition partner withdrew its support and left her without a majority. The government has been under pressure over its handling of multiple incidents involving stray drones suspected to be from Ukraine crossing into Latvian territory.

Associated Press journalists Hanna Arhirova in Kyiv, Ukraine, and Barry Hatton in Lisbon, Portugal, contributed.

Follow the AP’s coverage of the war at https://apnews.com/hub/russia-ukraine