Aleta Planet provides cross-border payments for China’s Jinnan

Fintech Aleta Planet to provide cross-border payments for China’s Shanxi Jinnan Steel Group

Singapore-based fintech Aleta Planet has announced a strategic partnership with China’s Shanxi Jinnan Steel Group for cross-border payments and green steel exports.

Jinnan will make use of Aleta Planet’s B2B payment solutions for its payment needs, according to a press release.

Jinnan expects that its total payment volume with international customers and suppliers will reach $1b over the next 12 months.

The Chinese iron and steel company is seeking to expand its international footprint particularly in exporting low-carbon steel products to the Middle East and Africa, according to a press release.

Aleta Planet will also leverage National Pulse’s networks to aid Jinnan in expanding into international markets, including the UAE, Middle East and Africa regions in the first phase.

National Pulse, a Dubai conglomerate, invested in Aleta Planet earlier in 2024 to tap on the UAE’s current strategy to grow digital and financial services.

Jinnan has invested over RMB2b to upgrade the production lines of low-carbon steel. It uses solar as one of the energy sources for its steel production in Linfen City, Shanxi Province, China, significantly reducing carbon emissions.

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