XTransfer alternative for paying a Chinese factory from USDT
XTransfer does not list USDT or USDC as a way to fund Pay to China. For importers paying a factory from stablecoins, Unigox is an XTransfer alternative. Stay with XTransfer for its local accounts or capped CNY fee.
When to stay with XTransfer
Your customers pay you in shillings, reais or rand
XTransfer opens local collection accounts in Kenya, Ghana, Brazil, Mexico, South Africa and other countries. Collecting shillings, reais or Mexican pesos is free on its price list, and rand costs from 0.5%. The money your customers pay in can then settle the factory's invoice from the same account.
You want a fee ceiling on every CNY payment
XTransfer publishes a maximum fee of 0.4% of the CNY amount for paying a supplier's designated account. Its help centre puts each payment between 500 and 5,000,000 CNY, with larger sums sent as several payments. It says the money arrives the same day, as fast as a minute. A request made after 18:00 on a working day, or on a non-working day, that needs a special review arrives the next working day. Its blog adds that the exchange rate sits outside that 0.4%.
The factory also holds an XTransfer account
Transfers between two XTransfer accounts (X2X) arrive near-instantly and are free to send and to receive on its price list, so paying a factory already on XTransfer costs no transfer fee.
XTransfer and Unigox for one factory payment
| Topic | XTransfer | Unigox |
|---|---|---|
| What it is | A B2B trade payment platform: local and global collection accounts, FX around the clock, payouts, withdrawals and Pay to China, built around invoices and shipping documents. | One step of what XTransfer does: paying a supplier's bank in China, Hong Kong or Singapore, from USDT, USDC or local currency. |
| Where the supplier is paid | CNY to a mainland China bank account of the supplier, its legal representative or a shareholder. Before the first payment, XTransfer reviews the account, asks for the supplier's business licence, and needs a declarant from mainland China, Hong Kong or Macau: a company director or an authorised individual. Payouts in other currencies go to bank accounts in many countries. | A bank account in mainland China in CNY or USD; a bank account in Hong Kong or Singapore in USD. |
| Money in | Bank transfers from many countries, local currency into its collection accounts, or another XTransfer account. Its price list and product pages name no way to pay in with crypto. | USDT or USDC held in your Unigox Wallet, or local currency where your account offers it. |
| Paperwork per payment | For CNY settlement: the supplier's English name, the product name and quantity, the product or store website, and logistics documents, or the expected shipping date if the goods have not shipped. FX reporting can need more. Deposits before shipment are allowed. | For CNY: bank name, account number, the company name in Latin letters and Chinese characters, and the +86 mobile number registered to the account, with no invoice upload. Each payment also asks for its purpose and your relationship to the supplier. A USD payment to a mainland non-resident (NRA) or offshore (OSA) account needs the invoice. |
| Pricing | Published list:
| No published list. The total for that invoice and its price breakdown appear before you confirm; on a USD payment, bank fees can reduce the amount the supplier receives. |
| Regulation | XTransfer lists a Payment Business Permit in mainland China, a Hong Kong Money Service Operator licence, UK authorised payment institution status, a Singapore Major Payment Institution licence, a Dutch e-money licence, US money transmitter licences in 33 states, and money services registrations in Canada and Australia. | Unigox works through two companies: UNIGOX NETWORK CORP. in Canada handles the local-money side and is registered with FINTRAC as a money services business and with the Bank of Canada as a payment service provider; UNIGOX NETWORK CORP. in Panama handles the crypto side, including wallets and escrow. |
UnigoxPay your XTransfer supplier through Unigox
Verify as the paying person
XTransfer verified your business. Unigox runs its own identity check on you, the payer, and supplier payments open once it is approved.
Ask the factory for its Chinese details
XTransfer needed a declarant, the supplier's English name and your shipping papers. For a CNY payment on Unigox, get the company name in Chinese characters and the mobile number its bank holds, entered with +86, or upload its invoice to fill the form.
Pay the deposit or balance from USDT
Choose Unigox Wallet, enter only the amount due now in the supplier's currency, a 30% deposit for example, then check the total and the breakdown and pay from USDT or USDC.
XTransfer alternative: common questions
Is there an XTransfer alternative that takes USDT or USDC?
Unigox pays a supplier's bank in mainland China in CNY or USD, or in Hong Kong or Singapore in USD, from USDT or USDC in your Unigox Wallet. XTransfer funds supplier payments from bank transfers and local-currency collections and lists no crypto option.
See Pay suppliers in ChinaWhat is XTransfer, and which part of it can Unigox replace?
XTransfer is a trade payment platform: businesses collect from customers through its local and global accounts, convert, and pay suppliers, including CNY settlement to China. Unigox covers only the last step, paying the supplier, with stablecoins as a way to fund it.
How much does XTransfer charge to pay a supplier in China?
XTransfer's price list caps the fee for CNY sent to a Chinese supplier's designated account at 0.4% of the CNY amount, and its help centre takes it from the amount sent. Its blog notes the exchange rate comes on top. Other payouts start from $2, and transfers to another XTransfer account are free.
Is XTransfer legit and regulated?
XTransfer lists licences and registrations in mainland China, Hong Kong, the UK, Singapore, the Netherlands, the US (33 states), Canada and Australia. Unigox works through two companies: UNIGOX NETWORK CORP. in Canada handles the local-money side and is registered with FINTRAC as a money services business and with the Bank of Canada as a payment service provider; UNIGOX NETWORK CORP. in Panama handles the crypto side, including wallets and escrow.
Keep XTransfer collections, pay the factory from USDT
When the invoice money is in USDT or USDC, Unigox pays the factory's bank in mainland China, Hong Kong or Singapore and shows the total before you confirm. Local-currency collections can stay on XTransfer.
XTransfer and other names and logos are trademarks of their respective owners. Unigox is not affiliated with, endorsed or sponsored by them. Information about other companies comes from public sources, mainly the companies' own websites, and each company can change its products and fees at any time.