A heavy toll on their margin
- A month-long payment freeze blocked salaries and rent, which took nearly a month to resolve
- EUR–CNY swings hit margins directly, but their bank offered no hedging tools at the SME scale
- Wide spreads, opaque fees, and manual processes made every cross-border payment a guessing game
Stability across every border
- Business account holding EUR, CNY, and 9 other currencies — with a dedicated account manager they can turn to via WhatsApp, email, phone,
- Direct CNY payments to Chinese suppliers, making relationships with suppliers stronger and more long-term
- Forward contracts and FX monitoring to plan conversions instead of reacting to them
Meet Bestar Steel Limited, a German-Founded Steel Trader Operating at the Crossroads of Europe and Asia
Founded in Germany, the company opened a Hong Kong office in 2012 to sit closer to Asian suppliers and markets, aiming to have a more structured presence in the region. That office became the nerve centre of its cross-border operations: revenue flows in from the German HQ in EUR are converted to CNY, and supplier payments in CNY are sent to China. Hong Kong is the bridge between two currencies and two continents.
For over a decade, traditional banks handled that bridge. It's a simple enough flow, but it only works smoothly if the bank does.
What Traditional Banking Actually Felt Like
During a routine review, Bestar temporarily lost the ability to make outgoing payments. Salary and rent were blocked and delayed.
"During that period, it was very difficult to reach the right person to resolve the issue efficiently, and the account remained restricted for nearly a month."
With regular payments already being quite time-consuming, this payment freeze was the first wake-up call. It planted a question the team couldn't ignore: what happens when you can't rely on one bank?
"A bad month would typically be when EUR weakened against CNY. Since we needed to convert EUR into CNY, this directly increased our cost base and reduced margins. On top of that, with limited FX tools, we had no way to lock in favourable rates in advance."
With Statrys, the team could actually watch the rate and plan around it. Even hedge part of their CNY exposure before the invoice lands. The biggest shift was how the team viewed FX, leading to much better conversion rates for major transactions.
Their bank couldn't offer forward contracts at a scale that worked for an SME. The company explored fintech alternatives, but many lacked the FX management capabilities the business required. With large volumes and long-term contracts, even small rate moves matter — so the team started searching for a better solution.
The Search for a New Provider Led Them to Statrys
Bestar Steel Limited began looking for a provider that could offer greater visibility into EUR–CNY movements, better control over conversion timing, access to practical FX tools, and reduced operational dependence on a single bank. Statrys gave Bestar Steel what their bank could not: payment in CNY, real FX tools, and actual visibility into when to convert.
With Statrys, the team can now hold and manage both EUR and CNY, as well as 9 other currencies. As well as monitor FX movements more closely and hedge part of their expected CNY exposure.
"Having better FX visibility allows us to price with more confidence. We can monitor EUR-CNY movements more closely and even plan ahead, instead of building in large safety margins."
When using their traditional bank account, every quote included a buffer because nobody knew what the EUR-CNY rate would do between agreement and payment. With Statrys, the team could actually watch the rate, plan around it, and even hedge part of their CNY exposure before the invoice lands. The bigger shift wasn't just a number; it was how the team thought about FX at all.
"We now have more tools to actively manage FX rather than just reacting to it... I would say FX is not just a cost — it is a risk and an opportunity. When you start dealing with large volumes and long-term contracts, even small changes in exchange rates can have a big impact on margins."
Operating directly in EUR and CNY has improved efficiency across both supplier relationships and internal financial management. Paying Chinese suppliers directly in CNY has helped support long-term supplier agreements, while maintaining EUR flows with the company's German headquarters, keeping reporting and operations aligned.
