UAF registration strengthens compliance footing in Latin America
Santiago, Chile (ANTARA/PRNewswire)- XTransfer, a leading 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 its Latin America expansion.
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 specialises in serving 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 China and Chile grew from over US$7 billion in 2005 to US$66.905 billion in 2025, with China remaining Chile's largest trading partner for many consecutive years, according to China Customs data. According to XTransfer data, payment collections from Latin America rose 94% year-on-year in 2025, with collections from Chile increasing by 79%, reflecting the deepening trade ties between the two countries.
Solving the Export Payment Bottleneck
However, 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 FX 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 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 utilisation.
"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.
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Source: XTransfer
Reporter: PR Wire
Editor: PR Wire
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