News related to
AI trade

Advancing Cross-Border Payments Across Latin America and Europe

AMSTERDAM, NETHERLANDS – Media OutReach Newswire – 3 June 2026 – XTransfer, the world’s leading B2B cross-border trade payment platform, and BBVA, a global financial group, have signed a Memorandum of Understanding (MOU) during Money20/20 Europe 2026 in Amsterdam to deepen cross-border payment infrastructure across Latin America and Europe.

Under the MOU, XTransfer and BBVA will combine their respective strengths to explore the delivery of integrated cross-border financial solutions, spanning FX conversion, local payments and cross-border payments across Latin America, Europe and Hong Kong SAR.

The parties will also explore leveraging technology and innovation, including APIs, digital platforms, collection solutions and virtual accounts, to support more automated, real-time and seamless FX conversion and transaction processing. By streamlining payment flows and improving operational connectivity, the collaboration is expected to enhance the scalability, efficiency and reliability of cross-border financial services for SMEs engaged in international trade.

In recent years, trade between China and Latin America has grown closer. XTransfer data shows that in 2025, payment collections from Latin America on its platform rose 94% y-o-y. Yet many SMEs still face major cross-border settlement hurdles, including slow onboarding, FX constraints, and complex compliance. The partnership between XTransfer and BBVA is structured to tackle these barriers directly.

For XTransfer, the partnership strengthens the coverage and depth of X-Net, its global unified B2B cross-border settlement and risk management network, in two of the most important regions for its SME clients. With Latin America emerging as a high-growth corridor for Chinese exporter settlements, BBVA’s strong presence across Latin America and Europe further strengthens XTransfer’s reach and competitive position.

With XTransfer’s network of more than 897,000 SME clients worldwide, the partnership also strengthens BBVA’s position in global payments and expands its ability to serve a broader, more diverse client base across multiple regions.

Bill Deng, Founder and CEO of XTransfer, said, “Latin America remains an active but underserved B2B trade corridor, where SMEs still encounter significant challenges. We are pleased to sign this MOU with BBVA, enabling us to leverage their expertise to bring X-Net’s infrastructure directly into the region. Together, we aim to simplify cross-border finance and improve the efficiency and inclusivity for global traders.”

Ksenia Nekrasova, Global Sector Co-Head of TMT at BBVA, said: “Beyond the growth in flows, we are seeing a shift in how our clients operate: digital platforms with global, real-time and highly integrated needs. This agreement allows us to anticipate that evolution, strengthening our capabilities in the TMT space and supporting these clients in their international expansion with solutions designed for their scale and complexity.”
Hashtag: #XTransfer #BBVA #CrossborderPayments #SMEs

https://www.xtransfer.com
https://www.linkedin.com/company/xtransfer.cn

The issuer is solely responsible for the content of this announcement.

About XTransfer

XTransfer, the world’s largest B2B cross-border trade payment platform with over US$60 billion TPV in 2025, according to CIC. Founded in 2017 as one of the first payment platforms worldwide dedicated to B2B cross-border trade, we serve the largest customer base of over 800,000 registered SMEs globally as of March 31, 2026.

We connect top-tier financial institutions directly to SMEs, the backbone of global trade, giving businesses of every size access to the same secure, compliant and seamless payment infrastructure once reserved for multinationals. As of March 31, 2026, we provide payment services across more than 200 countries and regions through partnerships with financial institutions, including some of the most established international banks around the world.

XTransfer has obtained required licenses in major hubs, including the Chinese Mainland, Hong Kong, the United Kingdom, the United States, Singapore, the Netherlands, Australia and Canada.

For more information, please visit: https://www.xtransfer.com

The shift reflects a sharp change in investor preference after months of underperformance by Hong Kong equities against mainland peers. Mainland investors sold about HK$3.6 billion of Hong Kong shares through the trading links last month, the first monthly net outflow since June 2023 and one of only a small number of monthly selling episodes since the southbound channel became a key route for mainland money into the city’s market.

The move is striking because southbound buying has been one of the strongest supports for Hong Kong stocks over the past year. Mainland funds poured into high-dividend banks, telecoms groups, energy companies and internet platforms during earlier phases of the rally, helping offset caution among global investors. That support is now weakening as domestic funds chase companies tied to AI infrastructure, chips, optical modules, software and computing power.

Onshore AI shares have delivered a stronger performance than Hong Kong’s technology benchmarks this year. The CSI Artificial Intelligence Index has risen sharply, while the Hang Seng Tech Index has lagged, weighed down by concerns over platform margins, heavy spending on AI models and pressure from subsidy battles in e-commerce and online services. The divergence has encouraged active money managers and retail traders to reassess whether Hong Kong-listed internet giants still offer the most attractive exposure to China’s technology story.

The change in flows also comes as Beijing’s industrial policy continues to favour advanced manufacturing, domestic semiconductors, large language models and high-end computing. Companies linked to AI servers, data centres, optical communications, robotics and chip design have become favoured market proxies for China’s effort to reduce dependence on foreign technology. That policy backdrop has helped support valuations even as questions persist over earnings visibility, capital expenditure demands and competition.

Cambricon Technologies, Zhongji Innolight, Kingsoft Office, iFlytek and other mainland-listed technology names have been among the companies watched closely by investors seeking domestic AI exposure. Hong Kong still hosts major technology groups such as Tencent, Alibaba, Baidu, Meituan and Xiaomi, but the market’s heavyweight structure makes it more exposed to mature platform businesses than to the faster-growing AI hardware and infrastructure supply chain favoured by onshore traders.

Hong Kong’s role as a fundraising centre remains intact despite the outflow. The city has continued to attract listings from technology, healthcare, robotics and semiconductor-related companies, while mainland firms still view it as the most practical offshore venue for raising international capital. Several AI and chip-linked companies are preparing or considering Hong Kong share sales, suggesting the city remains central to China’s capital market architecture even as secondary-market money rotates elsewhere.

The weakness in southbound appetite also reflects broader caution over Hong Kong valuations after a strong earlier advance. Investors who bought the market for dividends and policy support are locking in gains while seeking higher-beta opportunities at home. The shift does not necessarily point to a structural rejection of Hong Kong stocks, but it does show that mainland money is becoming more selective after helping drive earlier momentum.

Regulatory pressure on offshore investment channels may also be influencing behaviour. Authorities have tightened scrutiny of unauthorised cross-border trading accounts and offshore brokerage activity, reinforcing the appeal of regulated domestic routes. While Stock Connect remains an approved mechanism, wider efforts to keep capital within supervised channels have added another layer of sensitivity around outbound allocations.

Market analysts say the key question is whether the AI-led onshore rally can broaden beyond a narrow group of highly valued companies. China’s AI supply chain is benefiting from state support, falling model costs and growing enterprise adoption, but investors face risks from crowded positioning, uneven profitability and rapid technological shifts. Several AI-linked companies still trade more on expectations than on proven earnings, leaving the sector vulnerable to volatility if sentiment turns.

The reported move, if confirmed, would mark a significant shift in the composition of India’s external buffers at a time when oil prices, foreign portfolio outflows and import demand are combining to test the country’s balance of payments position. The RBI has not publicly confirmed any gold sale of that scale, and the latest available reserve data show a fall in the value of gold holdings rather than a definitive disclosure of physical bullion sales.

India’s foreign exchange reserves fell to $681.4 billion for the week ended May 22, down $7.5 billion from the previous week. Foreign currency assets declined by about $3 billion to $543 billion, while the value of gold reserves dropped by roughly $4.5 billion. The fall came as the rupee traded near record lows, having weakened by more than 4 per cent since the outbreak of the US-Iran conflict and the accompanying rise in energy prices.

The rupee has been under sustained pressure from higher crude oil and liquefied natural gas costs, wider hedging by importers and withdrawals by overseas investors from domestic equities. Brent crude has traded in the mid-$90 range, raising concern over India’s import bill because the country depends heavily on overseas energy supplies. Any prolonged disruption in Gulf shipping routes would add to inflation risks and intensify demand for dollars from refiners and importers.

The RBI has intervened through state-run banks to slow the currency’s decline, with traders indicating that the central bank has been uncomfortable with disorderly depreciation. The rupee was around 95 to the dollar this week after briefly sliding close to 97 in May. The central bank’s policy decision due this week is being watched for signals on whether it will rely mainly on liquidity tools, dollar sales and administrative measures, or consider a firmer monetary response.

The reported $12 billion gold-related action has drawn attention because India’s gold holdings have expanded in importance within the reserve portfolio. The central bank held about 880.5 tonnes of gold at the end of March, with gold accounting for nearly 17 per cent of total foreign exchange reserves. The physical stock has been broadly steady around 880 tonnes since mid-2025, suggesting that changes in the dollar value of gold reserves can reflect price movements, accounting effects and reserve operations as well as outright sales.

Gold has become a larger part of central bank reserves worldwide as monetary authorities seek diversification away from dollar assets and protection against geopolitical shocks. India has also moved more of its bullion to domestic vaults, reducing custody risks linked to overseas storage. That strategy had been seen as a long-term strengthening of sovereign reserve control, making any suggestion of sizeable gold liquidation politically and financially sensitive.

The government has moved separately to curb foreign exchange outflows. Import duties on gold and silver have been lifted sharply to about 15 per cent from 6 per cent, reversing earlier tariff relief and increasing the landed cost of precious metals. Rules around some bullion imports have also been tightened, while appeals have been made to households to reduce discretionary gold purchases.

Fuel prices have also been raised as state-run retailers pass through part of the increase in international crude costs. Petrol and diesel prices have risen after several years of limited retail adjustments, adding to household costs but reducing the burden on public-sector oil marketing companies. The step is intended to limit under-recoveries at fuel retailers and reduce the fiscal strain that would otherwise build if global prices stay elevated.

The combined policy response reflects the strain of a classic external shock: a weaker currency lifts import costs, higher oil prices widen the trade deficit, and investors demand higher compensation for risk. India enters this phase with substantial reserves, moderate inflation by past crisis standards and a financial system that remains broadly stable, but the speed of the rupee’s decline has revived comparisons with earlier episodes of currency stress.

For markets, the key question is whether the central bank can preserve confidence without exhausting liquid dollar assets or signalling panic. A calibrated use of reserves can smooth volatility, but heavy intervention may raise doubts if investors see it as a defence of a particular exchange-rate level. The RBI’s challenge is to keep currency markets orderly while allowing enough flexibility for the rupee to adjust to the oil shock and global risk aversion.

The Provisions on the Protection of Trade Secrets, issued by the State Administration for Market Regulation under Order No. 126, came into force on 1 June 2026 and replace rules first introduced in 1995. The overhaul gives regulators clearer authority to handle disputes involving digital assets that now sit at the centre of corporate value, from AI model architecture and training datasets to platform recommendation systems, software code and commercially valuable operational data.

The change marks a significant shift in China’s treatment of intangible technology assets. Earlier rules were drafted before cloud computing, AI systems and large-scale data operations became central to business competition. The new framework defines trade secrets as technical or business information that is not publicly known, has commercial value and has been subject to confidentiality measures by the rights holder. Technical information now expressly covers data, algorithms, computer programs and code, while business information can include management, sales, finance, planning, customer and operational data.

The timing gives the regulation wider strategic weight. China and the United States are locked in a prolonged technology rivalry involving semiconductor controls, restrictions on advanced computing hardware, limits on investment in sensitive sectors and scrutiny of cross-border technology transfers. Washington has tightened export controls on high-end chips and chipmaking equipment, while Beijing has expanded its own legal toolkit to protect critical technology, secure data flows and prevent overseas transfer of capabilities it regards as strategically important.

The new rules do not create a separate trade secret law, but provide more detailed administrative guidance under China’s Anti-Unfair Competition Law. They clarify how regulators should assess whether information is secret, whether it has commercial value, what counts as reasonable confidentiality measures and how infringement should be investigated. For companies, the central message is that protection will depend not only on the value of the information, but also on whether internal controls, access limits, confidentiality agreements, digital safeguards and evidence trails are in place.

The provisions also recognise that unsuccessful research can have commercial value. Stage-by-stage technical results, failed experimental data and development paths that save time or cost in future research may qualify for protection if they meet the legal conditions. That is especially relevant for AI labs, pharmaceutical developers, electric vehicle makers, chip design firms and advanced manufacturing groups, where failed trials can reveal important technical boundaries and prevent competitors from repeating expensive mistakes.

Regulators have been given practical enforcement tools, including powers to inspect business premises, question individuals, copy documents, examine electronic records and take action against materials linked to suspected infringement. Penalties can include orders to stop unlawful conduct, confiscation of illegal gains and fines that may reach CNY5 million in serious cases. The framework also covers improper acquisition, disclosure, use or permission to use trade secrets obtained through theft, bribery, fraud, coercion, electronic intrusion or breach of confidentiality obligations.

For multinational companies operating in China, the new rules create a mixed picture. Stronger protection could help firms defend proprietary data, software systems and industrial processes in a market where trade secret disputes have often been difficult to pursue. At the same time, wider protection for data and algorithms may increase compliance complexity, particularly in joint ventures, outsourced research, cloud services, employee mobility, cross-border collaboration and licensing arrangements.

Technology companies are likely to face tougher expectations over documentation. Firms seeking protection will need to show that the information was not easily accessible, carried economic value and was actively protected. Generic claims that an algorithm or dataset is confidential may not be enough. Companies will be expected to classify sensitive assets, restrict access by role, track downloads and transfers, maintain logs, use encryption or watermarking where appropriate, and ensure that employment and partnership contracts define confidentiality obligations with precision.

The rules also sit alongside China’s broader data and security regime, including laws on data security, personal information protection, cybersecurity and export control. That overlap could make enforcement more powerful but also more complicated. A dataset may be a trade secret, a regulated data asset and a cross-border transfer concern at the same time. Businesses handling AI training material, user behaviour data or industrial performance data will need to assess those obligations together rather than treating trade secret protection as a standalone issue.

The MoUs were signed during the Vietnam–Philippines Business Forum, held as part of the official visit by Party General Secretary and President Tô Lâm to the Republic of the Philippines.

The partnership with CAITO aims to enhance Vinpearl’s brand awareness within the Philippines’ travel trade community while creating additional opportunities to develop hospitality, entertainment and MICE offerings in Nha Trang, Phu Quoc and Da Nang. CAITO is currently one of the Philippines’ leading tourism organizations, with an extensive network of travel businesses across the region.

With Klook, one of Asia’s leading travel experience platforms, Vinpearl and VinWonders aim to expand their strategic collaboration across distribution, communications and tourism promotion in key international markets, particularly the Philippines and broader Southeast Asia. The partnership is expected to expand the presence of the Vinpearl–VinWonders ecosystem in major international markets, while further elevating Vietnam’s tourism image across global travel and digital media platforms.

Ms. Ngo Thi Huong, Chief Executive Officer of Vinpearl, shared: “Through these agreements in the Philippines, alongside a series of partnership initiatives in Thailand and Singapore, Vinpearl aims to drive high-quality inbound tourism to Vietnam, strengthen connectivity among ASEAN markets, and enhance the competitiveness of Vietnam’s tourism industry. With an integrated ecosystem spanning hospitality, entertainment, golf, and commercial services, Vinpearl remains committed to pioneering world-class experiences that contribute to positioning Vietnam as a leading destination in the Asia-Pacific region.”

Mr. Michelle Ho, Chief Executive Officer of Klook Philippines, said: “Vinpearl currently operates one of the region’s most distinctive tourism and entertainment ecosystems, with strong capabilities in integrating hospitality, theme parks and premium leisure experiences. We believe our partnership with Vinpearl will further enhance the appeal of Nha Trang, Phu Quoc and Da Nang among travelers across the region.”

Previously, during its business engagements in Thailand and Singapore, Vinpearl also entered into MoUs with Agoda, AirAsia MOVE, BeMyGuest and GlobalTix to expand international distribution channels for its hospitality, resort and travel experience offerings.

Together with the agreements established in the Philippines, this series of partnerships with leading regional players across aviation, travel trade, digital tourism, and travel distribution reflects Vinpearl’s ongoing efforts to build a comprehensive international market development network across Southeast Asia.

Beyond expanding its partner ecosystem, these collaborations provide a foundation for Vinpearl to strengthen its presence in key markets, engage more effectively with international travelers, and enhance the competitiveness of Vietnam’s tourism industry within the region.

Hashtag: #Vinpearl

https://vinpearl.com/en

The issuer is solely responsible for the content of this announcement.

About CAITO

CAITO (Calabarzon Alliance of Independent Tour Operators, Inc.) ONE CALABARZON is an association of independent travel businesses and tourism partners in the Philippines, established in 2020. With a rapidly expanding member network and close collaboration with the Philippines Department of Tourism (DOT), CAITO has become one of the country’s most dynamic tourism organizations, playing an active role in tourism promotion, business connectivity and international collaboration, particularly in the areas of MICE and B2B. The organization is anchored in a vision to promote Philippine destinations, tourism products, cultural heritage, cuisine, and services while strengthening the country’s tourism identity through collaboration, shared promotion, and collective growth.

About Klook
Klook is one of the leading travel experience platforms in the Asia-Pacific region, offering attractions, tours, transportation, accommodation, and travel services on a global scale. To date, Klook has recorded more than 65 million bookings across over 200 markets, supporting more than 40 payment methods alongside e-ticketing services and 24/7 customer support.

The platform currently operates a community of more than 30,000 content creators across 88 markets, helping promote tourism and inspire exploration for millions of travelers worldwide.

About Vinpearl

Vinpearl is Vietnam’s leading tourism, hospitality and entertainment brand, currently operating 60 properties across 20 provinces and cities nationwide. Its ecosystem includes a network of five-star hotels and resorts with more than 17,500 rooms; 16 VinWonders theme parks offering a wide range of attractions for all audiences; six world-class golf courses; and three international-standard convention centers and theaters under the VinPalace brand. The ecosystem also features two semi-wildlife conservation and care parks, an equestrian academy, and million-dollar live-action shows in Nha Trang and Phu Quoc, attracting millions of visitors each year.

The measures apply to online platforms with at least 8 million users in Malaysia, bringing Facebook, Instagram, TikTok and YouTube within the scope of the rules. Companies must introduce age-verification systems for new users and checks for existing account holders, while strengthening safeguards against harmful content, cyberbullying, grooming, scams, child sexual abuse material and other online risks identified by regulators.

The Malaysian Communications and Multimedia Commission has framed the move as a child-protection measure rather than a general restriction on internet access. Children under 16 are not being cut off from the internet, but they are no longer permitted to own private social media accounts in their own names. Parents will not face penalties if children bypass the rules, but platforms that fail to comply can face fines of up to 10 million ringgit.

Communications Minister Fahmi Fadzil had signalled the age floor last year, arguing that children were being exposed to online harms at a scale that demanded firmer platform accountability. He has said the policy is aimed at stopping under-16s from opening accounts independently, while allowing supervised access under parental control. Officials have also pointed to the spread of scams, online gambling, predatory contact and bullying as risks that existing moderation systems have failed to contain.

The enforcement places Malaysia among a growing group of governments testing age-based restrictions on social media. Australia has moved ahead with a comparable under-16 model, while the United Kingdom and several European governments are examining tougher obligations on platforms, age checks and design features that can encourage prolonged use by minors. Indonesia and Turkey have also discussed stronger limits for children’s access to social platforms.

Malaysia’s approach marks a significant shift in Southeast Asia’s digital regulation, where governments have increasingly moved from voluntary platform pledges to statutory obligations. The country has already required large social media and messaging platforms to obtain operating licences, with authorities saying the regime is intended to combat cybercrime, harmful content and misuse of online services. The under-16 rule adds a more targeted child-safety layer to that broader regulatory framework.

The most difficult part of implementation is likely to be age verification. Platforms may need to rely on identity documents, digital identity systems, facial estimation technology, parental confirmation or other mechanisms. Each option raises trade-offs. Stronger verification can reduce false age declarations, but it can also require users to hand over sensitive personal data. Privacy advocates have warned that age checks could create wider data-collection risks unless platforms limit retention, secure information properly and avoid using identity data for advertising or profiling.

Child-rights and free-expression groups have also questioned whether a blanket age rule will protect vulnerable users or push them towards less visible online spaces. Critics argue that determined teenagers may use virtual private networks, borrowed accounts, false birth dates or overseas registration routes to evade the restriction. They say a safer approach would combine age-appropriate design, stronger default privacy settings, rapid removal of harmful content, limits on addictive features and meaningful complaint channels.

Supporters of the policy counter that age limits give parents a clearer standard and force platforms to accept responsibility for systems that have often treated children as ordinary users. They argue that voluntary parental controls have not kept pace with algorithmic recommendation systems, private messaging risks and the commercial incentives behind engagement-driven platforms. The new rules are expected to test whether large technology companies can apply credible safeguards without excluding legitimate educational, civic and social uses of digital services.