Since late March 2026, the Cake GlobalX service has been made widely available, allowing all users to receive money from abroad and have it credited to their accounts within the same day. This solution adds a new channel for cross-border transfers directly via a digital bank, simplifying processes that previously relied on multiple intermediaries.
Amid booming cross-border e-commerce, estimated at 791.5 billion USD globally and projected to grow by over 30%, Vietnamese online sellers, content creators and freelancers often face cumbersome payment processes. These typically involve delays of three to four days, or even up to a week, along with hidden fees and unfavorable exchange rates.
Cake GlobalX tackles these challenges by allowing users to register and obtain account details within minutes to directly link with international e-commerce platforms, eliminating costly intermediaries. The service supports up to 10 popular foreign currencies, including USD, CAD, GBP and EUR, helping users to receive revenues from global commerce platforms and convert them into VND on the same day at competitive rates.
Transaction fees start from just 1.1 USD per transfer, thus optimizing costs, particularly for frequent cross-border earners. All transactions are managed 24/7 via the mobile app that allows users to track cash flow transparently, review transaction history, and maintain full control of their finances anytime and anywhere.
The process is conducted entirely online, making international transfers as seamless as domestic transactions. This assists users to improve capital turnover and ease cash flow pressures. Within a short period, the service has gained traction among Vietnam’s digital business community, with a growing number of users signing up.
The solution is built on the integration of Cake’s AI-powered digital banking infrastructure and the global payment network of Visa, ensuring fast and stable transactions that meet international standards while enhancing the security of cross-border money flows.
The launch further strengthens Cake’s position as a leading digital bank in Vietnam, offering a comprehensive ecosystem that includes payment accounts, deposits, international transfers, credit cards, consumer loans, and investment services—all integrated into a single platform.
Nguyen Huu Quang, CEO of Cake, said the rollout of GlobalX marks the next step in expanding digital financial services to meet the growing demand for international money flows among Vietnamese users, and also a strategic milestone that gives Cake confidence to expand further across the region.
Source: VNA