Cross-border payments platform Skydo has received in-principle approval to operate as a Payment Service Provider (PSP) at GIFT City IFSC, becoming one of the first cross-border fintech firms to secure a GIFT City licence.
The approval gives Skydo access to a globally aligned financial ecosystem designed for international financial services, enabling the company to build infrastructure and products tailored for businesses operating across borders.
Expanding Multi-Currency and Global Payment Infrastructure
The licence will allow Skydo to expand capabilities such as multi-currency collections, e-money accounts, merchant acquisition, and new international payment corridors for Indian businesses.
The company has also received regulatory approval under the Reserve Bank of India’s Payment Aggregator-Cross Border (PA-CB) framework for outward payment flows. Earlier this year, Skydo secured final RBI authorisation for export collections under the same framework.
With both approvals in place, the platform will support end-to-end global payment journeys for Indian businesses, enabling them to receive international payments and make outbound payments to overseas vendors, software providers, and partners through a compliant infrastructure.
Growing Presence Across Indian Export Ecosystem
Skydo currently serves more than 40,000 Indian businesses across over 50 cities and supports collections from more than 150 countries.
The company enables exporters to receive payments locally from international clients across multiple currencies, while offering transparent pricing and faster settlements.
Going forward, Skydo plans to expand its product stack, enter new geographies, and build solutions for emerging cross-border payment use cases as India’s global trade ecosystem continues to digitise rapidly.